Mandeep Auto Industries is gearing up for its IPO, which is a fixed price issue of Rs 25.25 crores, comprising entirely of fresh issue of 37.68 lakh shares. While the IPO dates are yet to be announced, here are the key details prospective investors should know:
**Issue Details:**
– **Price:** The IPO price is set at ₹67 per share, with a minimum lot size of 2000 shares. For retail investors, the minimum investment required is ₹134,000.
– **Issue Size:** Mandeep Auto Industries aims to raise ₹25.25 crores through this IPO.
– **Listing:** The IPO will be listed on NSE SME.
– **Promoters:** The company’s promoters are Mr. Gurpal Singh Bedi, Mrs. Nidhi Bedi, and Mr. Rajveer Bedi.
**About Mandeep Auto Industries Limited:**
– Established in 2000, Mandeep Auto Industries is primarily engaged in manufacturing and supplying various products such as sheet metal components, auto parts, sprocket gears, and machined components. These products cater to diverse industries including automobiles, tractors, railways, defense, and more.
– The company boasts experienced professionals specializing in Press and Machining Components and holds ISO 14001:2015 and ISO 9001:2015 certifications.
– Its clientele includes domestic and global OEMs in the automobile sector, such as J.L Auto Parts Pvt. Ltd., Tube Investments of India Limited, Rockman Industries Limited, and others.
– As of November 2023, Mandeep Auto Industries employs 54 people and has 15 contract laborers.
**Financial Information:**
– Mandeep Auto Industries has exhibited significant growth, with revenue increasing by 36.03% and profit after tax (PAT) rising by 62.17% between the financial years ending March 31, 2022, and March 31, 2023.
– The market capitalization of the IPO is estimated at Rs 69.26 Crores.
– Key Performance Indicators (KPI) as of August 31, 2023, include ROE (Return on Equity) at 8.45%, ROCE (Return on Capital Employed) at 9.03%, and Debt/Equity ratio at 1.25.
**Objectives of the Issue:**
The proceeds from the IPO will be utilized for:
1. Expansion of the existing manufacturing facility in Faridabad, Haryana, including construction of buildings and purchase of equipment.
2. Repayment/prepayment of certain borrowings.
3. Funding working capital requirements.
4. General corporate purposes.
Investors interested in Mandeep Auto Industries IPO should keep an eye out for further announcements regarding the IPO dates and subscription details.
