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Mangalam Alloys Limited is a stainless steel unit manufacturing SS Ingots, Round Bar, RCS, Bright bar, different sections like square, hex, angle, patti, etc. Forging and making fasteners.

Let’s have a detailed review of the company and analytics of the Mangalam Alloys IPO release date, IPO offer price, subscription, Mangalam Alloys IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

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Mangalam Alloys IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.3/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.9/10
Overall Ratings7.4/10
Star Ratings★★★★☆

Summary of Mangalam Alloys IPO

Mangalam Alloys Limited IPOMangalam Alloys Limited is manufacturing SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Angle, Patti, Forgings and Fasteners in more than 30 international grades and in the size range from 3mm to 400mm. Initial Public Offering Upto 67,34,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. [●] Per Equity Share (Including a Share Premium of Rs. [●] per Equity Share) aggregating to Rs. [●] Lakhs.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:

  • Revenues have grown from Rs. 179.73 crore in FY 2016-17 to Rs. 269.69 crore in FY 2017-18.
  • The net asset value per Equity Share was Rs. 30.58 and Rs. 27.43 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements and Rs. 77.14 and Rs. 76.19 as of June 30, 2018 and March 31, 2018, respectively, as per the Restated Consolidated Financial Statements.
  • The net worth of the company as on March 31, is  Rs. 4,873.90 lakhs as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
  • Our net profit after tax was Rs.5.11 crore in FY 2016-17 and Rs. 903.99 crore in FY 2017-18.

The Promoters of this company are Mr. Uttamchand Chandanmal Mehta & Maheshchand JainThe lead manager to the issue is Monarch Networth Capital Limited and the Registrar to this issue is Bigshare Services Private Limited.


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    Mangalam Alloys IPO Date

    The opening and the closing date of Mangalam Alloys IPO is not known yet.


    Mangalam Alloys IPO Subscription

    Day / DateQIBNIIRIITotal Subscription
    1st Day – 
    2nd Day – 
    3rd Day – 
    4th Day – 
    5th Day – 
    Shares Offered or Net Issue

    The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


    Mangalam Alloys IPO Allotment Status

    Here, you can find the Allotment Status of this IPO.


    Mangalam Alloys IPO Price Band

    The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


    Mangalam Alloys IPO Equity Share Offering

    Initial public offering of Upto 67,34,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. [●] Per Equity Share (Including a Share Premium of Rs. [●] per Equity Share) aggregating to Rs. [●] Lakhs.


    Mangalam Alloys Limited – Company Overview

    Mangalam Alloys Limited was originally incorporated as Mangalam Alloys Private Limited on August 1, 1988 under the provisions of Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Our Company was subsequently converted in to a public company and consequently name was changed to Mangalam Alloys Limited.

    Mangalam Alloys is having an Unique Integrated Stainless Steel/Higher Alloys Steel Melting and further processing Unit i.e. up to Bright Bar Fasteners. The Company is a stainless steel unit manufacturing SS Ingots, Round Bar, RCS, Bright bar, different sections like square, hex, angle, patti, etc, Forging and making fasteners

    This Company is manufacturing SS Ingots, SS Black Bar, SS RCS, SS Bright Round Bar, Bright Hex Bar, Bright Square Bar, Angle, Patti, Forgings and Fasteners in more than 30 international grades and in the size range from 3mm to 400mm.

    They have a head office and a factory located in Chhatral, GIDC, Gujarat. The company establishes a long-term relationship with their clients by providing good quality product, which will surely go a long way and benefit the company. The company is backed by a team of highly creative and experienced professionals who have an affinity for creating innovative designs.

    Competitive Strengths of Mangalam Alloys Limited:

    • Experienced promoters and Management Expertise; 
    • Quality projects and committed operations;
    • Independent Execution capabilities ; and
    • Networking strength

    Business strategies of Mangalam Alloys Limited:

    • Mangalam Alloys Limited engaged in manufacturing of Stainless Steel Long products. Future roadmap of MAL is as below:
    • MAL is going to install a next generation bright bar unit (import from Italy) in FY 2019-20. With this new unit the capacity of bright bar will increase. With the help of this set up we will achieve turnover of 500 Crore in FY 2020-21. This new machine will replace existing 18 machines and will reduce 70 manpower.
    • The capacity of this single machine is five times more as compare to our present setup. In addition to that the product of the machine will have 1% increase yield.
    • To increase production of higher value grades with better value addition from 12000 Mt to 20,000 Mt in the FY 2018-19.
    • To increase export turnover from Rs. 79.52 crore to Rs. 150 Crore in FY 2018-19. In future we are trying to capture Export OEM market.
    • To increase SS angle & Flat monthly 400 MT level to 800 MT per month level.
    • Fastener production from monthly 30 MT to level to 50 MT level.
    • To achieve monthly 4500 MT rolling production to 6500 MT level.
    •  NABL certification of MAL quality control department.
    •  Increasing the operations of R&D center.

    Mangalam Alloys Limited – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

    Financial Summary:

    On the basis of Standalone statement:-

    Amount (in INR & lakhs)
    30-Sep-1831-Mar-1831-Mar-1731-Mar-16
    Total Assets24,834.5922,492.5916,941.8112,986.70
    Total Revenue16,530.0926,953.2317,966.0015,409.44
    Total Expense15,808.4125,760.8817,356.7114,997.03
    Profit After Tax539.78884.49487.04298.72

    Earnings per Equity Share (in lakhs)

    30-Sep-1831-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted(pre- bonus)3.045.146.894.23
    Basic & Diluted (post- bonus)3.045.142.871.76

    From the above statements, one could find that the Mangalam Alloys Limited may perform well.


    Mangalam Alloys IPO – Promoters

    The Promoters of this company are:

    • Mr. Uttamchand Chandanmal Mehta
    • Maheshchand Jain

    List of Related Parties (Key Managerial Personnel)

    • Mr. Tushar Uttamchand Mehta- Managing Director
    • Mr. Uttamchand Chandalmal Mehta – Whole Time Director
    • Mr. Mahesh Kumar Agrawal – CFO
    • Mr. Viplove Singh Kushwah – Compliance officer & CS

    Interest in promotion of the Company

    Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

    Property Interest

    The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

    Interest in Intellectual Rights of the Company

    Promoters has not shown any interest in acquiring the intellectual rights of the company.


    Mangalam Alloys IPO Offer Details or Issue Details

    Particulars No. Of Equity Shares
     Equity Shares Offered Upto 67,34,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. [●] Per Equity Share (Including a Share Premium of Rs. [●] per Equity Share) aggregating to Rs. [●] Lakhs.
     Of which:
     Reserved for Market Makers Upto 3,38,000 Equity Shares of face value of Rs.10/- each fully paid up of the Company for cash at a price of Rs. [●] per Equity share aggregating Rs. [●] Lakhs
     Net Issue to the Public Upto 63,96,000 Equity Shares of face value of Rs.10/- each fully paid of the Company for cash at a price of Rs. [●] per share (including a premium of Rs. [●] per Equity Share) aggregating Rs. [●] Lakhs
     Of which:
     Retail Investors Portion Upto 31,98,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●]/-per share ( including a premium of Rs. [●]/- per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs.2.00 lakhs
     Non-Retail Investors PortionUpto 31,98,000 Equity Shares of Rs.10/- each for cash at a price of Rs. [●]/-per share ( including a premium of Rs. [●]/- per Equity Share) will be available for allocation for allotment to other Investors of Above Rs.2.00 lakhs
     Equity Shares outstanding prior to the Issue1,77,70,053 Equity Shares
     Equity Shares outstanding after the IssueUpto 2,45,04,053 Equity Shares of face value of Rs. 10 each

    Mangalam Alloys IPO Issue Object

    These are the IPO Issue Objects of the company

    • Funding the Working Capital requirements of the Company:
    •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company

    Mangalam Alloys IPO – Basis of the Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Experienced promoters and Management Expertise; 
    • Quality projects and committed operations;
    • Independent Execution capabilities ; and
    • Networking strength

    The relevant quantitative factors are:

    On the basis of standalone statement:-

    Basic & Diluted EPSRONW in %NAV (Rs.)
    31-Mar-164.239.8243.06
    31-Mar-176.8913.8049.96
    31-Mar-184.9817.97
    27.70
    • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
    ParticularsP/E ratio
    Highest150.17
    Average48.76
    Lowest6.67
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)Diluted EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Mangalam Alloys Limited104.9826.22[●]17.9727.71
    2Ratnamani Metal & Tubes Ltd232.4810.5727.3111.60279.92
    3Arfin India Ltd1029.988.196.2526.2662.40
    4Panchmahal Steel Ltd  100.295.15131.550.4563.37
    5India Steel Works Limited10.1218.218.002.334.52

    Mangalam Alloys IPO Lead Managers

    Lead Managers
    MONARCH NETWORTH CAPITAL LIMITED,
    Address – Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road,
    Navrangpura, Ahmedabad – 380014. Tel. No. – 079 – 6600 0500/ 700
    Website: https://www.mnclgroup.com/ Email: gajara.joshi@mnclgroup.com
    Investor Grievance Email: mbd@mnclgroup.com
    Contact Person: Ms. Gajara Joshi SEBI Regn. No. MB/ INM000011013

    Mangalam Alloys IPO Registrar to offer

    Registrar to the Offer
    BIGSHARE SERVICES PRIVATE LIMITED,
    Address – E-2/3, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri
    (E), Mumbai – 400072. India. Tel. No. – 022 – 62638200
    Website: www.bigshareonline.com/ Email: ipo@bigshareonline.com
    Investor Grievance Email: investor@bigshareonline.com
    Contact Person: Mr. Jibu John SEBI Regn. No. INR000001385

    Other Details:

    • Statutory Auditor – KPSJ & Associates LLP
    • Peer Review Auditor – S. D. Mota & Associates
    • Bankers to the Company – State Bank of India, Small Industries Development Bank of India, Nutan Nagarik Sahakari Bank Ltd

    Mangalam Alloys IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

    Mangalam Alloys IPO Grey Market Premium

    The Mangalam Alloys IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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      Mangalam Alloys IPO News

      News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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