After completion of 2 days of the bidding process, Mangal Compusolution IPO recorded a subscription level of 13.25 times in the retail segment and 7.87 times overall. While a total of 3,420,001 shares are on offer, applications were received to buy 2,69,07,000 shares till the morning of November 14, the last day of bidding.
The Mumbai-based 13.5-year-old company offers hardware computer rental services to various industries. It rents IT hardware and offers a range of IT equipment that involves different IT equipment, servers, laptop and desktop computers, projectors, routers, workstations, Plasma/LCD display units etc. It offers solutions that are customised to the need of companies of different sizes.
Latest Mangal Compusolution IPO GMP
Investorgain tells us that Mangal Compusolution IPO GMP stands at Rs 7 on the morning of November 14, the last day of bidding. The GMP signalled a listing gain of 15.56%. On November 13, the second day of bidding, the GMP was recorded at 8. It was at Rs 2 on November 7 and rose to the level of Rs 10 on November 12 which was the first day of the subscription process kicking off. One must remember that Grey Market Premium is an unofficial estimate that guarantees nothing – listing gain or listing loss.
Mangal Compusolution IPO price band, allotment
One share of Mangal Compusolution IPO will cost the investor Rs 45, which is a fixed price. The minimum investible lot consists of 3,000 shares. It will need an investment of Rs 1.35 lakh by a retail investor.
The allotment of shares of Mangal Compusolution IPO will take place on Monday, November 18. The shares of the SME IPO will list at BSE SME on November 20. Mangal Compusolution IPO has been designed to mop up Rs 16.23 crores. It entirely consists of fresh shares and has no OFS part. It means the promoters of the company will not sell their existing shares and the entire IPO proceeds will accrue to the company, which is a factor that boosts investor confidence.
At the end of the second day of bidding, Mangal Compusolution IPO subscription level could put many high profile mainboard issues to shame. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
