IPO Details
Bidding Dates
12 May '24 - 14 May '24
Minimum Investment
₹1,34,000/ 1 Lot (2000 shares)
Price Range
₹67
Maximum Investment
₹1,34,000/ 1 Lot (2000 shares)
Retail Discount
To be announced
Issue Size
₹25.25 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
May 12, 2024
Closing Date
May 14, 2024
Basis of Allotment
May 15, 2024
Initiation of Refunds
May 16, 2024
Credit of Shares to Demat
May 16, 2024
Listing Date
May 20, 2024
Cut-off time for UPI mandate confirmation
May 14, 2024
About Mandeep Auto Industries Limited
Mandeep Auto Industries Limited, founded in 2000, specialises in manufacturing and supplying various products, including sheet metal components, auto parts, sprocket gears, and machined components. These products find applications in a variety of sectors, such as automobiles, tractors, material handling, earth-moving equipment, railways, defence, machine tools, and the DIY industry.
The company is known for its Press and Machining Components expertise, bolstered by a team of experienced professionals. Mandeep Auto Industries Limited is also recognised for its commitment to quality and environmental management, holding ISO 14001:2015 and ISO 9001:2015 certifications.
With a focus on both domestic and international markets, the company's notable clients include J.L Auto Parts Pvt. Ltd. in Faridabad, Haryana; Tube Investments of India Limited in Chennai, Tamil Nadu; Rockman Industries Limited in Saket, New Delhi; Manvi Automobiles in Faridabad, Haryana; and Jain Industrial Products Private Limited in Hissar, Haryana.
As of November 2023, Mandeep Auto Industries employs 54 individuals alongside 15 contract labourers, demonstrating its robust operational scale and commitment to industry leadership.
Industry Outlook:
- The automotive sector continues to be a robust contributor to India's GDP, with over 22.9 million vehicles produced in FY 2021-22 and steady growth in domestic sales. This growth and stability in the industry provide a conducive environment for Mandeep Auto Industries Limited to expand its operations and customer base.
- With India's automotive industry gaining recognition globally, there are ample opportunities for export growth. Mandeep Auto Industries Limited can leverage this by focusing on quality, innovation, and customised solutions to attract international clients and establish a strong presence in global markets.
Mandeep Auto Industries Limited IPO Details
Mandeep Auto Industries Limited IPO Dates
Mandeep Auto Industries Limited IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.
Mandeep Auto Industries Limited IPO Price Band
Mandeep Auto Industries Limited is a Fixed Price Issue IPO. The price per share is set at ₹67 per share.
Mandeep Auto Industries Limited IPO Lot Size
The lot size for Mandeep Auto Industries Limited IPO is 2000 shares with a minimum investment of ₹1,34,000.
Mandeep Auto Industries Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Mandeep Auto Industries Limited plans to use funds to expand its existing manufacturing facility in Faridabad, Haryana. This expansion includes constructing a new building and acquiring equipment to boost production capacity and efficiency.
- The company aims to repay/prepay certain term loans and working capital facilities using the funds raised. This strategy is intended to reduce outstanding debt, improve the debt-equity ratio, and strengthen the company's financial position.
- Funds will be allocated to meet the working capital requirements of the company, supporting day-to-day operations, business growth, and expansion plans during the current and upcoming financial years.
- The remaining funds will be utilised for general corporate purposes, such as strategic initiatives, acquisitions, R&D, fixed assets acquisition, and meeting expenses incurred in the ordinary course of business, ensuring flexibility and operational continuity.
Peer Details
The following are the listed peers of Mandeep Auto Industries Limited:
- Kranti Industries Limited
- Porwal Auto Components Limited
- Lumax Auto Technologies Limited
How to Check the Allotment Status of the Mandeep Auto Industries Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Mandeep Auto Industries Limited IPO
- Registered office: Plot No 26, Nangla, Faridabad, Haryana -121001
- Phone: +91-129-2440045
- E-mail:info@mandeepautoindustries.com
IPO Financials
| Particulars | As of December 31,2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue from Operation (in ₹) | 165,676,213 | 290,891,415 | 218,973,271 | 156,349,385 |
| Profit After Tax (PAT) (in ₹) | 21,492,785 | 10,491,003 | 6,469,086 | 4,981,025 |
| Cash and Cash Equivalents (in ₹) | 2,030,892 | 296,370 | 462,820 | 220,456 |
| Return on Net Worth (%) | 25.97 | 23.13 | 15.64 | 17.76 |
| Return on Equity (%) | 30.15 | 24.20 | 18.64 | 29.85 |
| Return on Capital Employed (RoCE) (%) | 27.94 | 28.18 | 17.02 | 24.61 |
| EBITDA(in ₹) | 33,989,283 | 22,092,796 | 14,411,905 | 12,576,409 |
Know before investing
Strengths
3-
The company's wide array of products, including precision sheet metal components, auto parts, and sprocket gears, caters to a broad customer base in the domestic market. This product diversity enhances market penetration and revenue streams.
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Mandeep Auto Industries has fostered long-standing relationships with clients and suppliers, demonstrating a commitment to reliability and quality in business dealings. This rapport contributes to sustained business growth and operational efficiency.
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The company places a strong emphasis on quality, as evidenced by ISO certifications for maintaining quality standards and environmental policies. This commitment to global quality benchmarks attracts both domestic and international customers, enhancing the company's reputation and market share.
Risks
3-
The company faces challenges in obtaining and renewing various approvals, permits, and licences required to operate its business. Delays or failures in obtaining these approvals promptly may disrupt operations and impact financial performance.
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The land where the existing manufacturing unit is situated and expansion activities are planned is categorised as agricultural land. Obtaining necessary permissions and approvals for land use change is crucial for the proposed expansion. Any delays or denials in these approvals can hinder the expansion plans and affect business operations and financial conditions.
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Mandeep Auto Industries faces challenges in evaluating historical performance and projecting future prospects as a relatively new company with a limited operating history. Investors may find assessing the company's viability difficult based on its short track record, which could affect investor confidence and funding opportunities.
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Mandeep Auto Industries Limited IPO FAQs
Mandeep Auto Industries Limited IPO is a Fixed Price Issue IPO. The IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.
The Basis of Allotment will happen on Thursday, May 16, 2024.
The IPO subscription window will open on Monday, May 13, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.
The listing date for Mandeep Auto Industries Limited IPO is Tuesday, May 21, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
