Mangal Compusolution Limited made a quiet debut on the BSE SME platform, with its stock opening flat at Rs 45 per share, On Thursday, November 21.
The shares of Mangal Compusolution fell as much as 5 per cent after listing, reaching the lower circuit limit on the BSE at Rs 42.75 each.
The company’s shares were traded on the BSE SME platform in 7.17 lakh transactions during the first ten minutes of trading. With a market capitalization of Rs 58.17 crore, the company’s total trading value was Rs 3.2 crore.
Listing gains for investors
Given that they were given at least one lot or 3,000 shares, the retail investors would have lost Rs 6,750 (Rs 2.25 x 3,000) when the stock fell to the lower circuit.
Mangal Compusolution Ltd., was the 531st company to get listed on the BSE SME Platform. Mr. Meghraj Jain, Founder, Mangal Group along with Ms. Radha Kirthivasan, Head Listing and SME, BSE and others rang the ceremonial bell to mark the listing.#BSE #BSEIndia #BSESME… pic.twitter.com/BmY34MeKBj
— BSE India (@BSEIndia) November 21, 2024
Mangal Compusolution IPO details
The Mangal Compusolution IPO was a Rs 16.23 crore book-building issue. 36.06 lakh new shares were issued as part of the fixed price issue. The BSE SME IPO had a fixed issue price of Rs 45 per share.
Subscription across categories
The three-day subscription period for the Mangal Compusolution IPO, which began on November 12 and ended on November 14, saw 34.64 bookings. In contrast to the 34.2 lakh shares available for subscription, bids were made for over 11.85 crore shares by investors in various categories.
At the Mangal Compusolution IPO, the quota for retail investors was booked 46.9 times, while the quota for non-institutional investors (NIIs) was booked 22.39 times.
Mangal Compusolution offerings
Customizable IT hardware products, including servers, laptops, desktops, and other devices, are offered by Mangal Compusolution.
The company makes money by leasing, selling, and maintaining IT equipment, and it primarily offers its services in Maharashtra. There were 24 full-time workers at the company as of September 30, 2024
