IPO Details
Bidding Dates
13 May 24 - 15 May 24
Price Range ₹
67 - 0
Total Equity
₹ 25.25Cr
Lot Size
2000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
13 May 2024
Offer end
15 May 2024
Allotment
16 May 2024
Refund initiation
17 May 2024
Demat transfer
17 May 2024
Listing
21 May 2024
Offer start
13 May 2024
Offer end
15 May 2024
Allotment
16 May 2024
Refund initiation
17 May 2024
Demat transfer
17 May 2024
Listing
21 May 2024
About Company
Established in 2000, Mandeep Auto Industries Limited engages in manufacturing and supplying a diverse range of products, including sheet metal components, auto parts, sprocket gears, and machined components. These products find applications across various industries, including automobiles, tractors, material handling, earthmoving equipment, railways, defense, and machine tools, as well as the do-it-yourself (DIY) industry. The company benefits from a team of experienced professionals specializing in Press and Machining Components and holds ISO 14001:2015 and ISO 9001:2015 certifications. Mandeep Auto Industries Limited serves a clientele consisting of both domestic and global original equipment manufacturers (OEMs) in the automobile sector. Notable clients include M/s J.L Auto Parts Pvt. Ltd. (Faridabad, Haryana), M/s Tube Investments of India Limited (Chennai, Tamil Nadu), M/s Rockman Industries Limited (Saket, New Delhi), M/s Manvi Automobiles (Faridabad, Haryana), and M/s Jain Industrial Products Private Limited (Hissar, Haryana). As of November 2023, the company has a workforce of 54 employees and employs an additional 15 contract laborers.
Year Founded
19-04-2023
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.97 | 63.53 |
| Share Capital | 6567902 | 6567902 |
Offer to Public
37,68,000.00 Cr
Project Details
- Expansion of the existing Manufacturing Facility located at Plot No 26, Nangla, Faridabad Haryana -1 - 90.83cr
- General Corporate Purpose - 22.33cr
- Repayment/prepayment of certain borrowings availed by our Company - 68.42cr
- Funding working capital requirements - 60.88cr
Objectives
- Expansion of the existing Manufacturing Facility located at Plot No 26, Nangla, Faridabad Haryana -121001 by construction of the building on the land adjacent to our existing manufacturing unit, purchase of equipment/machineries, etc.Repayment/prepayment of certain borrowings availed by our Company.Funding working capital requirements.General Corporate Purpose.
Highlights
- India's economic growth in FY 2023-24 is fueled by domestic demand, capital investment, and structural reforms like the Insolvency and Bankruptcy Code (IBC) and Goods and Services Tax (GST), which can positively impact Mandeep Auto Industries Limited's operations.
- The Indian automobile industry, supported by liberalization and robust foreign direct investment (FDI), significantly contributes to the country's GDP and provides substantial employment opportunities, which can benefit Mandeep Auto Industries Limited.
- The EV revolution in India presents opportunities for Mandeep Auto Industries Limited to expand its product portfolio and tap into emerging markets, aligning with the shift towards electric vehicles (EVs).
- Industry-academic collaborations, such as MG Motor's Dakshta program and Automotive Skills Development Council (ASDC) initiatives, address skills gaps in the EV sector, potentially enhancing the workforce available to Mandeep Auto Industries Limited.
- Mandeep Auto Industries Limited's incorporation following the acquisition of M/s Mandeep Industries' business provides a foundation for growth and market entry, positioning the company strategically in the automotive sector.
Challenges
- The company's reliance on permits, licenses, and approvals for operations exposes it to regulatory risks, with non-renewal or non-issuance potentially impacting business continuity.
- The classification of existing and proposed manufacturing lands as agricultural poses obstacles for expansion, with delays or denials in obtaining construction permissions hindering growth opportunities.
- Mandeep Auto Industries Limited's short operating history post-acquisition may pose challenges for investor assessment and perception, potentially affecting investor confidence and business continuity.
- Previous errors in obtaining approvals may lead to penalties, highlighting the importance of stringent regulatory compliance for the company to avoid financial and reputational damage.
- The limited operating history and potential setbacks from land categorization may affect investor evaluation of the company's prospects and financial health, influencing investment decisions and access to capital.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 2,442.16 | 656.99 | 213.21 | 213.21 | 3.2453 |
