Mangalam Worldwide SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Jun 2022 – 04 Jul 2022
- Listing date
- 11 Jul 2022
- Face value
- ₹10 per share
- Issue price
- ₹101 per share
- Lot size
- 1,200 shares
- Total issue size
- ₹65.58 Cr
- Market cap at offer price
- ₹247 Cr
- Promoter holding
- 87.04% → 63.97% pre-issue → post-issue
- ISIN
- INE0JYY01011
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Beeline Broking Ltd.
- Registered office
- 102, Mangalam Corporate House, 42, Shrimali Society, Netaji Marg, Mithakhali, Navrangpura, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 3,25,200 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹101
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,21,200 |
| S-HNI (min) | 2 | 2,400 | ₹2,42,400 |
| S-HNI (max) | 8 | 9,600 | ₹9,69,600 |
| B-HNI (min) | 9 | 10,800 | ₹10,90,800 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.20 | — |
| P/E (×) | 10.98 | — |
| Market cap | — | ₹247 Cr |
Key performance indicators
- Return on net worth
- 27.06%
- ROCE
- 27.92%
- Debt / equity
- 1.03
- NAV per share
- ₹25.25
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Mangalam Worldwide SME
Mangalam Worldwide Limited (MWL) was originally incorporated on December 11, 1995 as 'Temchem Exports Private Limited', renamed 'Hindprakash Exim Private Limited' (2007) and 'Mangalam Worldwide Private Limited' (2014), and converted into a public limited company as 'Mangalam Worldwide Limited' in March 2022; formed in 1995 to trade textiles and chemicals, it was taken over by the Mangalam group in 2002. Since taking Units on lease in November 2019, the company has run a fully integrated stainless steel setup: Unit I at Halol, Gujarat with installed capacity of 66,000 MT/p.a. of SS billets (200, 300 including 304/316, and 400 series, plus special grades like 17/4 PH, duplex and super duplex) and Unit II at Changodar, Gujarat with rolling capacity of 90,000 MT/p.a. of SS flat bars, with 200-series billets captively consumed by Unit II. The plants were initially leased from Agarwal Mittal Concast Private Limited (AMCPL) and Vicor Stainless Private Limited; after both entered insolvency, MWL acquired AMCPL via an NCLT-approved resolution plan (paying Rs. 4,817.70 Lakhs against claims of Rs. 24,355.87 Lakhs, deemed amalgamated effective May 27, 2022) and has a pending resolution plan for Vicor's Unit II (proposing Rs. 635 Lakhs against claims of Rs. 1,661.88 Lakhs), under which Vicor is proposed to merge into subsidiary Mangalam Saarloh Private Limited. MWL earns roughly 94% of FY2021-22 revenue from operations (Rs. 52,302.96 Lakhs standalone; PAT Rs. 1,230.36 Lakhs) from manufacturing billets and flat bars sold to customers in Rajasthan, Gujarat, Maharashtra and Uttar Pradesh with recent exports to Brazil, about 3% from trading steel scrap and ferro alloys, and about 3% from job work (it also gets SS round bars and bright bars made on job-work basis by third parties using its billets). The company holds ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015 certifications and had 137 employees as on May 31, 2022.
Company Analysis
from RHPMangalam Worldwide Limited is a Gujarat-based manufacturer of stainless steel (SS) billets and rolled SS flat bars that also trades steel scrap and ferro alloys and undertakes job-work manufacturing, operating in the stainless steel/steel industry.
Mangalam Worldwide Limited (MWL) was originally incorporated on December 11, 1995 as 'Temchem Exports Private Limited', renamed 'Hindprakash Exim Private Limited' (2007) and 'Mangalam Worldwide Private Limited' (2014), and converted into a public limited company as 'Mangalam Worldwide Limited' in March 2022; formed in 1995 to trade textiles and chemicals, it was taken over by the Mangalam group in 2002. Since taking Units on lease in November 2019, the company has run a fully integrated stainless steel setup: Unit I at Halol, Gujarat with installed capacity of 66,000 MT/p.a. of SS billets (200, 300 including 304/316, and 400 series, plus special grades like 17/4 PH, duplex and super duplex) and Unit II at Changodar, Gujarat with rolling capacity of 90,000 MT/p.a. of SS flat bars, with 200-series billets captively consumed by Unit II. The plants were initially leased from Agarwal Mittal Concast Private Limited (AMCPL) and Vicor Stainless Private Limited; after both entered insolvency, MWL acquired AMCPL via an NCLT-approved resolution plan (paying Rs. 4,817.70 Lakhs against claims of Rs. 24,355.87 Lakhs, deemed amalgamated effective May 27, 2022) and has a pending resolution plan for Vicor's Unit II (proposing Rs. 635 Lakhs against claims of Rs. 1,661.88 Lakhs), under which Vicor is proposed to merge into subsidiary Mangalam Saarloh Private Limited. MWL earns roughly 94% of FY2021-22 revenue from operations (Rs. 52,302.96 Lakhs standalone; PAT Rs. 1,230.36 Lakhs) from manufacturing billets and flat bars sold to customers in Rajasthan, Gujarat, Maharashtra and Uttar Pradesh with recent exports to Brazil, about 3% from trading steel scrap and ferro alloys, and about 3% from job work (it also gets SS round bars and bright bars made on job-work basis by third parties using its billets). The company holds ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015 certifications and had 137 employees as on May 31, 2022.
Objects of the Issue
- To Meet Working Capital Requirements ₹ 5200.00 Lakhs p.94
- General Corporate Purpose ₹ 1300.00 Lakhs p.96
- To meet Public Issue Expenses ₹ 58.13 Lakhs p.96
Issue Structure
- Total Issue
- ₹ 6,558.13 Lakhs (64,93,200 Equity Shares)
- Fresh Issue
- ₹ 6,558.13 Lakhs (entire issue constitutes a Fresh Issue)
- Offer for Sale
- Nil
- Price Band
- Fixed Price Issue at ₹ 101 per Equity Share (including share premium of ₹ 91 per Equity Share)
- Face Value
- ₹ 10 each
Business Model
MWL earns revenue primarily from manufacturing and sale of stainless steel billets (Unit I, Halol) and rolled SS flat bars (Unit II, Changodar) — 94% of FY 2021-22 revenue from operations — supplemented by trading of steel scrap and ferro alloys (3%) and job-work manufacturing (3%), including getting SS round bars manufactured on job-work basis from third parties using billets supplied by the company.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Vipin Prakash Mangal | Promoter | 18.50% | 13.59% |
| Mr. Chanakya Prakash Mangal | Promoter | 18.47% | 13.57% |
| Mr. Chandragupt Prakash Mangal | Promoter | 23.47% | 17.25% |
| Mrs. Rashmi Mangal | Promoter Group | 18.50% | 13.59% |
| Mr. Omprakash Mangal | Promoter Group | 8.11% | 5.96% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.