Mandeep Auto Industries was incorporated on April 19, 2023. The company specializes in manufacturing and supplying sheet metal components, auto parts, and various types of sprocket gears and machined components. These products find applications across a diverse range of industries, including tractors, automobiles, material handling and earth moving equipment, railways, defense, machine tools, and the DIY industry.
| Bidding Dates |
|---|
| 13 May 2024 - 15 May 2024 |
| Subscription |
|---|
| 72.27x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,34,000 | 1 | 1 | 2000 | 3.8 M | ₹67 | 63.53 % | ₹252.5 M | RHP DOC |
Mandeep Auto IPO SUBSCRIPTION STATUS
15 May '24Mandeep Auto IPO overall subscription rate was 72.27 times the total available shares
Mandeep Auto IPO retail subscription rate was 86.01 times in the retail segment
Mandeep Auto IPO non-institutional investor subscription rate was 58.54 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
15 May 2024 (Day 3) | 86.01x | 58.54x | - |
14 May 2024 (Day 2) | 12x | 2.94x | - |
13 May 2024 (Day 1) | 1.43x | 0.24x | - |
Mandeep Auto FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 23.7 | 215.3 | -8.9 | -10.8 | - |
| FY23 | 10.5 | 290.9 | -17.1 | -18.4 | 7.4% |
| FY22 | 6.5 | 219.0 | -13.4 | -15.7 | 6.6% |
| FY21 | 5.0 | 156.3 | -35.3 | -39.5 | 8.0% |
Mandeep Auto IPO SUBSCRIPTION STATUS DETAILS
Mandeep Auto had 3.8 M shares on offer
Mandeep Auto IPO offer price was ₹67
Mandeep Auto IPO minimum Investment was ₹134000
Mandeep Auto IPO issue size was ₹ 252.5 M
Mandeep Auto had a minimum lot size of 2000 Shares per application
Mandeep Auto NUMBER OF SHARES ON OFFER
Mandeep Auto IPO IMPORTANT DATES
| Issue Open Date | 13 May 2024 |
| Issue close Date | 15 May 2024 |
| Allotment Date | 16 May 2024 |
| Refund Date | 17 May 2024 |
| Demat Account Credit Date | 17 May 2024 |
| Listing Date | 21 May 2024 |
| Listing on Exchange(s) | NSE |
| Mandeep Auto Allotment Status | Exchange |
Mandeep Auto IPO subscription opened on 13 May 2024, and closed on 15 May 2024
IPO allotment for Mandeep Auto was finalized on Thursday, 16 May 2024
IPO listing for Mandeep Auto was on NSE on Tuesday, 21 May 2024
Mandeep Auto IPO LISTING GAINS
| Issue Price (adjusted) | 67.0 |
| Listing Open Price | 62.3 |
| Listing Close Price | 65.3 |
| Listing Gain% | -7.1% |
| Current Gain% | -68.8% |
Mandeep Auto Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mandeep Auto Industries Ltd. | 20.9 | 21.6 | 20.8 | -0.8 | 0.6 | 2.8 | 2.4 | 37.2 | 14.8 | 1.2 | -18.4 | 1 | -26.3 |
| Samvardhana Motherson International Ltd. | 168.5 | 177842.4 | 40.6 | 1.3 | 1.4 | 9.4 | 3.5 | 126414.2 | 10.7 | 3859.7 | 1.5 | 4.1 | 31.9 |
| Bosch Ltd. | 42950 | 126685.7 | 45.7 | 1.2 | 6.3 | 18.7 | 12.8 | 20888.7 | 10.5 | 2773.2 | 37.6 | 940.2 | 37.6 |
| UNO Minda Ltd. | 1285 | 74204.5 | 61.7 | 3.8 | 3.6 | 17.5 | 8.7 | 19692 | 17.2 | 1197.1 | 27 | 20.8 | 16.2 |
| Tube Investments of India Ltd. | 2772 | 53658.2 | 84.3 | -16 | 2.3 | 8.2 | 3 | 23234.6 | 17.1 | 636.8 | -5.5 | 32.9 | -5.3 |
| Sona BLW Precision Forgings Ltd. | 818 | 51009.7 | 73.3 | 3.8 | 10.3 | 10.7 | 8.6 | 4572.1 | 24.2 | 640.2 | 6.5 | 11.2 | 19.2 |
Mandeep Auto INFORMATION ON IPO ISSUE
About Mandeep Auto
Mandeep Auto Industries was incorporated on April 19, 2023. The company specializes in manufacturing and supplying sheet metal components, auto parts, and various types of sprocket gears and machined components. These products find applications across a diverse range of industries, including tractors, automobiles, material handling and earth moving equipment, railways, defense, machine tools, and the DIY industry.
Object of the Issue
- Expansion of the existing manufacturing facility in Faridabad, Haryana, including construction of a building on land adjacent to the existing unit and purchase of equipment and machinery.
- Repayment or prepayment of certain borrowings availed by the company.
- Funding working capital requirements.
- Allocation for general corporate purposes.
Mandeep Auto - PROMOTERS
| Name |
|---|
| Gurpal Singh Bedi |
| Rajveer Sing Bedi |
| Nidhi Bedi |
| Manjeet Kaur |
Mandeep Auto Lead Manager of the Issue
Jawa Capital Services Private Limited
mbd@jawacapital.in
Mandeep Auto Registrar to the issue
Cameo Corporate Services Limited
ipo@cameoindia.com
Mandeep Auto Strengths
Wide range of products
The company manufactures a wide range of machine components, including ring sprockets (42T), Activa self gears, CNG cover plates, Sparg clutches RE, Sparg clutches, Honda gear kicks, Yamaha gear kicks (B7J), Yamaha gear kicks, Discover 14 teeth, and various press components
Quality standards
The company is committed to providing high-quality products, as evidenced by its certifications. It holds ISO 9001:2015 certification for maintaining quality standards, and ISO 14001:2015 certification, which attests to its adherence to safe environmental standards and policies
Legacy business process
The company's management has successfully established a robust supply chain, maintained long-standing customer relationships, and built considerable goodwill and trust in the market
Mandeep Auto Risks
Limited operating history
The company has a very limited operating history, which may make it challenging for investors to evaluate its historical performance or future prospects
Dependent on few customers
The company is highly dependent on a few customers, with its top five clients accounting for more than 85.8% of its revenue
Dependent on automotive sector
The company's performance is heavily dependent on the automotive sector in India. Any adverse changes in the conditions affecting the Indian market can significantly impact the business
IPO FAQs
The promoters of the company are Gurpal Singh Bedi, Rajveer Sing Bedi, Nidhi Bedi and Manjeet Kaur.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 67.0 - 67.0.
The IPO application opens on May 13, 2024 and closes on May 15, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 134,000.0, the maximum value for this IPO is Rs 134,000.0.
This IPO will be allotted on May 16, 2024.
The refund will be credited to your account on May 17, 2024.
The allotted shares will be credited to your demat on May 17, 2024.
Mandeep Auto Industries Ltd.’s shares listed on the stock exchanges on May 21, 2024.