Mangal Compusolution share price sees muted debut; stock opens at ₹45 apiece on BSE SME

Mangal Compusolution IPO listing date: Mangal Compusolution share price made a muted debut on BSE SME today. On BSE SME, Mangal Compusolution share price was listed at ₹45, which is same as the issue price. Following its debut, Mangal Compusolution share price was locked in 5% lower circuit. At 10:13 IST, Mangal Compusolution share price was trading at ₹42.75 apiece on BSE SME.

Mangal Compusolution IPO opened for subscription on Tuesday, November 12 and closed on Thursday, November 14. The SME IPO received overwhelming response from investors. Mangal Compusolution Limited offers hardware rental services to meet the demands of companies in a range of sectors. The business provides complete end-to-end IT equipment and rents out IT technology. On the last bidding day, Mangal Compusolution IPO subscription status was 34.59 times, as per chittorgarh.com

While the company serves clients throughout India, the Maharashtra region significantly contributes to their revenue; for the quarter ending June 30, 2024, Maharashtra represented 96.87% of the total revenue.

Mangal Compusolution IPO details

Mangal Compusolution IPO consists of fresh issue of 3,606,000 equity shares aggregating to ₹16.23 crore. There's no offer for sale (OFS) component.

The firm intends to apply the net proceeds from the issuance for various purposes, including capital expenditures and general corporate needs.

Jawa Capital Services Private Limited serves as the book running lead manager for the Mangal Compusolution IPO, with Kfin Technologies Limited acting as the registrar for this offering. The market maker for the Mangal Compusolution IPO is Rikhav Securities.

Mangal Compusolution IPO GMP today

Mangal Compusolution IPO GMP today is +2. This indicates Mangal Compusolution share price was trading at a premium of ₹2 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mangal Compusolution share price is indicated at ₹47 apiece, which is 4.44% higher than the IPO price of ₹45.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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