₹48.94 Crores | Listing at BSE | Mon, Feb 12, 2024 - Tue, Mar 12, 2024
Mangalam Industrial Finance Ltd Rights Issue comprises 12.39 Cr equity shares aggregating to ₹48.94 Cr, offered at an issue price of ₹3.95 per share with a face value of ₹1 per share.
The record date for determining eligible shareholder is Jan 29, 2024, with the Rights Issue being offered in the entitlement ratio of 21 : 163.
The term of payment is defined as following : Issue Price of Rs.3.95 is payable on Application.
The Rights Entitlements are expected to be credited to eligible demat accounts on Mar 6, 2024.
The Rights Issue opens on Feb 12, 2024, and closes on Mar 12, 2024, with renunciation of Rights Entitlements permitted up to Feb 20, 2024.
The deemed date of allotment is Mar 6, 2024, following which the equity shares are expected to be credited to demat accounts on Mar 11, 2024 and listed at the BSE on Mar 13, 2024.
Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Mangalam Industrial Finance Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Mon, Jan 29, 2024
Entitlement Ratio
21 : 163
Open Date
Mon, Feb 12, 2024
Close Date
Tue, Mar 12, 2024
Issue Price of Rs.3.95 is payable on Application.
Mangalam Industrial Finance Ltd's revenue increased by 13.84% and profit after tax (PAT) dropped by -474.62% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28.66 | 34.71 | 32.30 |
| Revenue | 1.33 | 1.17 | 2.05 |
| Profit After Tax | -5.01 | 1.34 | 0.67 |
| Net Worth | 28.34 | 33.39 | 32.05 |
| Amount in ₹ Crore | |||
Established in 1983, Mangalam Industrial Finance Limited (MIFL) is a non-banking financial company (NBFC) providing financial solutions and services and is registered with the RBI in Kolkata.
MIFL offers loans for land, machinery and sheds and earns revenue from interest, fees and commission.
As of December 31, 2023, the company had 12 employees including directors.
The company proposes to utilize the Net Proceeds towards funding the following Objects:
[Dilip Davda] The company operates in financial service sector that is highly competitive and fragmented. Its financial performance so far has been listless and not matching the asking price. It’s corporate promoter Wardwizard Promoter is instrumental towards is thrust for financing EV two wheeler. Post-RI equity base hints at servicing aspect considering its minuscule financial operations so far. There is no harm in skipping this pricey RI. Read detail review...
Mangalam Industrial Finance Rights Issue 2024 got subscribed by 0.92 times by the end of the bidding period with total bid quantity received by BSE of 11,34,63,969 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Mar 12 2024 17:00:00 | 11,34,63,969 | 0.92x |
Mangalam Industrial Finance Ltd
Old Nimta Road,
Nandan Nagar,
Belghoria, Kolkata,-700 083
Kolkata, West Bengal, 700083
Purva Sharegistry (India) Pvt.Ltd.
The Mangalam Industrial Finance Rights Issue 2024 opens on Mon, Feb 12, 2024, and closes on Tue, Mar 12, 2024.
Mangalam Industrial Finance Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Mon, Feb 5, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Feb 20, 2024 |
| Issue Opening Date | Mon, Feb 12, 2024 |
| Issue Closing Date | Tue, Mar 12, 2024 |
| Date of Allotment (on or about) | Wed, Mar 6, 2024 |
| Date of Credit (on or about) | Mon, Mar 11, 2024 |
| Date of Listing (on or about) | Wed, Mar 13, 2024 |
You can apply for Mangalam Industrial Finance Rights Issue 2024 in two ways:
Steps to apply for Mangalam Industrial Finance Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Mangalam Industrial Finance Rights Issue 2024 using Registrar's website (R-WAP)
