Mandeep Auto Industries Ltd IPO Timeline

Mandeep Auto Industries Ltd IPO opens on 13-May-2024, and closes on 15-May-2024. The Mandeep Auto Industries Ltd IPO bid date is from 13-May-2024 to 15-May-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Mandeep Auto Industries Ltd IPO Opening Date 13-May-2024
Mandeep Auto Industries Ltd IPO Closing Date 15-May-2024
Basis of Allotment 16-May-2024
Initiation of Refunds 17-May-2024
Credit of Shares to Demat 17-May-2024
Mandeep Auto Industries Ltd IPO Listing Date 21-May-2024

Mandeep Auto Industries Ltd IPO Lot Size

Mandeep Auto Industries Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 134000).

Application Lots Shares Amount
Minimum 1 2000 ₹134000
Maximum 1 2000 ₹134000

Mandeep Auto Industries Ltd IPO Details

Mandeep Auto Industries Ltd IPO Date 13-May-2024 to 15-May-2024
Mandeep Auto Industries Ltd IPO Face Value Shares of ₹10 per share
Mandeep Auto Industries Ltd IPO Price ₹67 per share
Mandeep Auto Industries Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹25.25 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹25.25 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Gurpal Singh Bedi, Nidhi Bedi, Rajveer Bedi.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Expansion of the existing Mfg facility plot # 26 Nangla
  • 2 Repayment/prepayment of certain borrowings availed by the company
  • 3 Funding working capital requirements
  • 4 General corporate purposes

Company Financials

Mandeep Auto Industries Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
12-2023 24.25 16.57 2.15
Amount in ₹ Crore
  • Experienced Promoters and Management Team.
  • Wide range of Products.
  • Long-standing relationship with clients and suppliers.
  • Quality standards.
  • Legacy Business Process & Management.
  • Strong and experienced R&D team.
  • The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, and the failure to obtain, retain and renew such approvals and licenses or comply with such rules and regulations, and the failure to obtain or retain them in a timely manner or at all may adversely affect its operations.
  • The land on which its existing manufacturing unit is located and the land on which the company is proposing to carry out expansion activities is an Agricultural Land.
  • The company has a very limited operating history as a Company, which may make it difficult for investors to evaluate its historical performance or future prospects.
  • The company does not have long-term agreements with most of its suppliers or customers and the loss of one or more of them or a reduction in their demand for its products could adversely affect its business, results of operations, financial condition and cash flows. Further, its inability to accurately forecast demand for the company products or manage its inventory or working capital requirements may have an adverse effect on its business, results of operations and financial condition.
  • The company has issued Equity Shares during the last year at a price that may be below the Issue Price.
  • There have been instances of incorrect filing and delays in filing of certain e-forms of the Company in compliance with the Companies Act, 2013. Consequently, its may be subject to regulatory actions and penalties for such delays which may adversely impact its business and financial condition.
  • Its Promoters and Directors were Promoters and Directors in Mandeep Industries Private Limited, which has been struck-off by the Registrar of Companies.
  • The company's business is subject to a variety of safety, health and environmental laws, labour, and workplace related laws and regulations. Any failure on its part to comply with these applicable laws and regulations could have an adverse effect on its operations and financial condition.
  • The Company is yet to place order for 46.23% of machinery as mentioned in its Objects of the Issue. Any delay in placing orders/ procurement of machinery, may delay its implementation schedule and may also lead to increase in price of these machineries.
  • Its top five clients account for more than 85.77% of the company revenue.
  • Its propose to utilise a substantial portion of the Net Proceeds of the Issue towards purchase of Machinery and for construction of factory shed for the proposed expansion of its existing Manufacturing Unit and the company has not entered into any definitive arrangements to utilise certain portions of the Net Proceeds of the Issue. its funding requirements and deployment of the Net Proceeds of the Issue are based on management estimates, a cost estimate from Mr. Shiv Kumar Gupta, Chartered Structure Engineers and Government approved Valuers, quotations received from various vendors and have not been appraised by any bank or financial institution or other agency. The deployment of the Net Proceeds will not be monitored by a monitoring agency. Its proposed expansion plans are subject to the risk of unanticipated delays in implementation and cost overruns.
  • The company's working capital requirements, towards which the company intend to deploy Rs. 608.82 Lakhs from the Net Proceeds, are based on certain assumptions. Any change in working capital requirements on account of such assumptions may materially adversely affect its results of operations and profitability.
  • The company generally do business with its customers on purchase order basis and do not enter into long term contracts with them. Its inability to maintain relationships with the company customers could have an adverse effect on its business, prospects, results of operations and financial condition.
  • Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • The company has incurred indebtedness and an inability to comply with repayment and other covenants in its financing agreements could adversely affect the company's business and financial condition. Further, certain of its financing agreements involve variable interest rates and an increase in interest rates may adversely affect its results of operations and financial condition.
  • The Company has availed unsecured loans from promoters/directors and their relatives, which are repayable on demand.
  • M/s JBJ Industries, a Sole Proprietorship belonging to its Promoter Mrs. Nidhi Bedi, has objects similar to that of the Company's business and is engaged in the similar line of business / industry in which the Company operates.
  • Its Promoters and some of the company's Directors have interests in the Company other than the reimbursement of expenses and normal remuneration or benefits. Any such interests may result in a conflict of interest, which may have an adverse effect on its business.
  • The company has not entered into any long term or definitive agreements with its raw material suppliers. Its inability to obtain raw material in a timely manner, in sufficient quantities and / or at competitive prices could adversely affect its operations, financial condition and / or profitability.
  • If the products its manufacture experience quality defects or if the manufacturing services the company provide are found to be deficient, its may lose the company's customers and may be subject to product liability claims or claims alleging deficiency in service, which may also cause damage to its reputation and/or adversely affect its results of operations and financial condition.
  • The company does not own its current registered office cum manufacturing facility and the land where the proposed expansion of its manufacturing facility is proposed to be commissioned.
  • Its business is dependent on the performance of the automotive sector in India. Any adverse changes in the conditions affecting Indian market can adversely impact its business, results of operations and financial condition.
  • The company have recently applied for registration of its name and logo does not own the trademark `MANDEEP AUTO INDUSTRIES LTD.' as on date. Its may be unable to adequately protect its intellectual property. Furthermore, the company may be subject to claims alleging breach of third party intellectual property rights.
  • The prices the company is able to obtain for its products that its trade depend largely on prevailing market prices.
  • Trade receivables constitute major portion of its assets, the company's inability to recover the same can affect its financial position.
  • The company has in the past entered into related party transactions and may continue to do so in the future.
  • If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
  • Its success depends largely upon the knowledge and experience of the company Promoters, other Key Managerial Personnel and Senior Management. Any loss of its key managerial personnel or its ability to attract and retain them could adversely affect its business, operations and financial condition.
  • All of its product verticals are extremely competitive segments and the company face risk of competition affecting its margins and profitability as the company scale its operations.
  • The company face competition in its business from organized and unorganized players, which may adversely affect its business operation and financial condition.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The company has not made any alternate arrangements for meeting its regular working capital requirements. If the company operations does not generate the necessary cash flow, its working capital requirements may negatively affect its operations and financial performance.
  • Its lenders have charge over the company movable properties in respect of finance availed by us.
  • The company could be exposed to risks arising from misconduct, fraud and trading errors by its employees and Business Associates.
  • The Company may not have adequate insurance coverage and the company is not protected against all material hazards, which may adversely affect its business, results of operations and financial condition.
  • Delays or defaults in customer payments could result in a reduction of its profits and cash flows.
  • Any disproportionate increase in labour costs including increase in wage/salary demand, labour unrest or labour claims arising from accidents may adversely affect its business operations and financial conditions.
  • The funds proposed to be utilised for general corporate purposes constitute 9.66% of the Net Issue Proceeds.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect its revenues and results of operations.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The Issue Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue.
  • The price of its Equity Shares may be volatile, or an active trading market for the company Equity Shares may not develop.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • You will not be able to sell immediately on Stock Exchange any of the Equity Shares you purchase in the Issue until the Issue receives appropriate trading permissions.
  • Sale of Equity Shares by its Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
  • You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sales of the Equity Shares by its major shareholders may adversely affect the trading price of the company Equity Shares.
  • The Company has not paid any dividends till now and there can be no assurance that the company will pay dividends in future. Its ability to pay dividends in the future will depends upon a variety of factors such as future earnings, financial condition, cash flows, working capital requirements, and restrictive covenants in its financing arrangements.
  • The company does not have Factory Licence for its present manufacturing unit.
  • Its top three suppliers account for more than 71.58% of the raw material procured by the company.
  • Increase geographical presence.
  • Diversify its Product Portfolio.
  • Better working capital management.
  • Leveraging its Market skills and Relationships.

Mandeep Auto Industries Ltd IPO Promoter Holding

Pre Issue Share Holding 99.96%
Post Issue Share Holding 63.53%

Mandeep Auto Industries Ltd IPO Subscription Status (Bidding Detail)

The Mandeep Auto Industries Ltd IPO is subscribed - times on May 15, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

Mandeep Auto Industries Ltd IPO Prospectus

Mandeep Auto Industries Ltd IPO Listing Date

Listing Date 21 May 24
BSE Script 92589
NSE Symbol MANDEEP
Listing In NSE - SME
ISIN INE0R3T01013
IPO Price ₹67
Face Value ₹10

Mandeep Auto Industries Ltd IPO Registrar

Cameo Corporate Services Ltd

Phone: +91-44-40020700, 28460390
Email: ipo@cameoindia.com
Website: www.cameoindia.com

Mandeep Auto Industries Ltd IPO Lead Manager(s)

  1. Jawa Capital Services Pvt Ltd

FAQs on Mandeep Auto Industries Ltd IPO

Mandeep Auto Industries Ltd IPO, which opens for subscription from 13-May-2024 to 15-May-2024 has an issue size of ₹25.25 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Mandeep Auto Industries Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Mandeep Auto Industries Ltd IPO Opens for subscription from 13-May-2024 to 15-May-2024.

The lot size of Mandeep Auto Industries Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹134000 and ₹134000 respectively.

Allotment date for Mandeep Auto Industries Ltd is 16-May-2024 and refund of application amount (in case allotment is not received) will begin from 17-May-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-May-2024.

The registrar for Mandeep Auto Industries Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Mandeep Auto Industries Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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