Mangalam Global Enterprise Limited IPO
(i) Incorporated in the year 2010, the Company Mangalam Global Enterprise Limited belongs to Ahmedabad based Mangalam group of Companies set up by the Mangal Family and led by the vision of Mr. Vipin Prakash Mangal.
(ii) They are mainly engaged in the business of manufacturing of Refined Castor Oil First Stage Grade (F.S.G.), Castor De-Oiled Cake and High Protein Castor De-Oiled Cake for the domestic market as well as for exports to international markets. They have also diversified their business operations into the manufacturing of Cotton Bales (Lint Cotton) and Delineate Cotton Seeds.
(iii) They have started manufacturing from 2018-19 onwards, prior to that were into the trading business. The Company has one cotton processing unit at Harij, Gujarat and two well-equipped Castor processing units at Harij and Palanpur, Gujarat respectively for undertaking manufacturing operations of the above mentioned two product segments. They are also engaged in the trading of Castor Seeds and Raw Cotton.
(iv) The company has marked its presence in both domestic as well as global markets. They supply products in states such as Gujarat, Rajasthan, Delhi, Maharashtra, and West Bengal and to countries such as Thailand, Oman.
(v) They have 51% holding in Hindprakash Castor Derivatives Private Limited (HCDPL) and Farpoint Enterprise LLP (Farpoint), thus making them as subsidiary Companies.
HCDPL is engaged in the business of manufacturing of castor oil, castor oil derivatives, edible and non-edible oils, oilseeds, oil cakes, kernels and by-products and trading of chemicals, dyes, dyestuff, color chemicals & intermediates.
Farpoint is engaged in the business of manufacturing and trading of all types of articles, goods and commodities.
They have recently started a separate business unit in Singapore by incorporating a Wholly Owned Subsidiary – Mangalprakash (Singapore) PTE. Limited. It is engaged in the business of Whole Sale Trading of Goods.
Objects of the Mangalam Global Enterprise Limited IPO:
Mangalam Global Enterprise Limited IPO Details:
| Open Date: | Nov 15 2019 |
| Close Date: | Nov 20 2019 |
| Total Shares: | 4,230,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed price Issue |
| Issue Size: | 21.57 Cr. |
| Lot Size: | 2000 Shares |
| Issue Price: | ₹ 51 Per Equity Share |
| Listing At: | NSE Emerge |
| Listing Date: | Nov 28 2019 |
Financials of Mangalam Global Enterprise Limited IPO:
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Jun-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Revenue | 14,649.93 | 38,995.21 | 2,689.83 | 268.71 | |
| Profit After Tax | 99.60 | 244.95 | 25.89 | 9.41 | |
Comparison With Peers:
Recommendation on Mangalam Global Enterprise Limited IPO:
Lead Manager of Mangalam Global Enterprise Limited IPO:
Registrar of Mangalam Global Enterprise Limited IPO:
Company Address:
Bid Details of Mangalam Global Enterprise Limited IPO as on
20-Nov-2019 18:00:00 IST
| Category | No.of shares offered | No. of shares bid |
|---|---|---|
| 2,009,000 | 4,194,000 | |
| 2,009,000 | 952,000 | |
| 212,000 | 212,000 | |
| 4,230,000 | 5,358,000 |
| QIBs | No |
| QIBs+HNIs Subscription | 2.09X |
| Retail Subscription | 0.47X |
| Total Subscription | 1.28X |
Discussion on Mangalam Global Enterprise Limited IPO:
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S/2rate?
Avoid.
The company has issued 2,00,000 equity shares of Rs. 10 each fully paid at a premium of Rs. 18 per equity
share on October 16, 2019.
The major raw materials used in the manufacturing operations are Castor Seeds and Raw Cotton. Due to the seasonal availability of these two items, the business is seasonal in nature. The company has a high volume and low margin business.
The Company was originally incorporated in the year 2010.
The Company was converted into a Public Limited Company on September 30, 2019.
However, they have started commercial manufacturing activities for Refined Castor Oil and Cotton Bales and Cotton Seeds in the year 2018 only.
Previously, they were engaged in the trading business before starting the commercial manufacturing of our abovementioned products.