(MENAFN- KNN India)
New Delhi, Nov 12 (KNN) Mangal Compusolution Limited, a comprehensive IT hardware solutions provider, has announced the launch of its Initial public offering (IPO) on November 12, 2024.
The company aims to raise Rs 16.23 Crore through the issue of up to 36,06,000 equity shares with a face value of Rs 10 each, to be listed on the BSE SME platform.
The equity shares will be allocated across three categories: Non-Institutional Investors and Retail Individual Investors will each receive 17,10,000 shares, while 1,86,000 shares are designated for the market Maker.
The IPO proceeds will be primarily utilised for capital expenditure and general corporate purposes, with the issue scheduled to close on November 14, 2024.
Jawa Capital Services Private Limited has been appointed as the Lead Manager for the issue, bringing extensive industry experience and market expertise to guide the offering. Kfin Technologies Limited will serve as the Registrar to the Issue.
"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," said Pathik Desai, Managing Director, Mangal Compusolution Limited.
He emphasised that the proceeds would enable the company to enhance product offerings and expand its customer base.
Anoop Kumar Gupta, Director, Jawa Capital Services Private Limited, expressed confidence in the company's prospects, citing its 13-year track record in the IT hardware solutions industry.
He highlighted the company's strategic positioning to meet the growing demand for flexible and scalable IT infrastructure solutions.
Mangal Compusolution Limited provides comprehensive IT hardware solutions, including both rental and sales services for servers, laptops, desktops, projectors, workstations, and router-switches.
The company serves both small and large enterprises with customised IT configurations and rental solutions, complemented by on-site setup, deployment, and technical support services.
The company has demonstrated strong financial performance, reporting revenue of Rs 2,088.58 Lakhs, EBITDA of Rs 1,181.52 Lakhs, and PAT of Rs 385.80 Lakhs in FY24.
(KNN Bureau)
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