PNN
Mumbai (Maharastra) [India], November 11: Mangal Compusolution Limited is a comprehensive IT hardware solutions provider, specialized in both the rental and sale of IT equipment, proposes to open its Initial Public Offering on November 12, 2024, aiming to raise Rs 16.23 Crore with shares to be listed on the BSE SME platform.
The issue size is Up to 36,06,000 equity shares at a face value of Rs 10 each.
Equity Share Allocation
* Non-Institutional Investors - 17,10,000 Equity Shares
* Retail Individual Investors - 17,10,000 Equity Shares
* Market Maker - 1,86,000 Equity Shares
The net proceeds from the IPO will be utilized for Capital Expenditure and for general corporate purpose. The issue will close on November 14, 2024.
The Lead Manager of the issue, Jawa Capital Services Private Limited, leverages a wealth of experience accumulated over many years in the industry. Their comprehensive expertise and deep understanding of market dynamics position them effectively steering the issue towards a successful resolution. The Registrar to the Issue is Kfin Technologies Limited.
Pathik Desai, Managing Director of Mangal Compusolution Limited expressed, " With the launch of our IPO, we are taking a significant step toward expanding our capabilities and further enhancing our ability to deliver innovative IT hardware solutions. With our extensive years of experience and a diverse portfolio, we have built strong, lasting relationships with our customers.
The proceeds from this IPO will enable us to enhance our product offerings, expand our customer base, and unlock new growth opportunities. We believe this will further enable our clients to benefit from the latest in IT equipment."
Anoop Kumar Gupta, Director of Jawa Capital Services Private Limited said, "We are pleased to support Mangal Compusolution Limited on this exciting IPO journey. With a solid track record of 13 years in the IT hardware solutions industry, the company has established a reputation for quality, flexibility, and customer-centricity. The funds raised through this IPO will play a vital role in expanding their product range and reaching a broader customer base, strengthening their position in a rapidly evolving market.
As the demand for flexible and scalable IT infrastructure solutions rises, the company is well-positioned to meet the needs of businesses seeking cost-effective, high-quality technology solutions. We believe strong management team, combined with its established customer relationships and expanding portfolio, positions it well for future success. We look forward to supporting them as they continue to achieve new milestones.
About Premium Plast Limited:
Mangal Compusolution Limited is a provider of comprehensive IT hardware solutions, specializes in both the rental and sale of a wide range of IT equipment, while also offering end-to-end IT services. With a focus on empowering businesses through top-tier IT hardware, Mangal offers an extensive inventory that includes servers, laptops, desktops, projectors, workstations, router-switches and other essential accessories. The Company caters to the diverse needs of both small and large enterprises, offering customized IT configurations and rental solutions. In addition to rentals, Mangal provides new and pre-owned IT equipment, supported by on-site setup, deployment, maintenance, technical support and resolution of hardware issues
In FY24, The Company achieved a Revenue of Rs 2,088.58 Lakhs, EBITDA of Rs 1,181.52 Lakhs & PAT of Rs 385.80 Lakhs.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)