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Mandeep Auto IPO Soars on Day 2, Retail Investors Drive Massive Oversubscription

Mandeep Auto Industries Limited's IPO saw strong investor interest on day 2, with QIBs bidding for 22,000 shares, non-institutional investors for 55,20,000 shares, and retail investors leading with 2,26,06,000 shares bid, totaling 2,81,48,000 shares.
Mandeep Auto IPO Soars on Day 2, Retail Investors Drive Massive Oversubscription
Mandeep Auto IPO Soars on Day 2, Retail Investors Drive Massive Oversubscription

Mandeep Auto IPO saw robust response on Day 2, with QIBs bidding for 22,000 shares, non-institutional investors for 55,20,000 shares, and retail investors leading the charge with bids for 2,26,06,000 shares, totaling 2,81,48,000 shares amid strong investor interest.

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How To Check Mandeep Auto Industries Limited IPO Subscription Status? 

Steps to check the IPO subscription status on NSE

Following are the steps to check it through the NSE website

  • Visit NSE‘s official website.
  • Navigate to the ‘Market Data’ tab.
  • Choose ‘IPO’.
  • Select the Mandeep Auto Industries Limited IPO to check its subscription status.
  • Opt for either NSE Bid details or Consolidated Bid details.
  • Explore the total number of bids received from various investors. 

Mandeep Auto Industries Limited IPO Subscription Status

Mandeep Auto Industries Limited’s IPO witnessed a tepid start yesterday, achieving a subscription rate of just 0.83 times on the opening day. The muted response from investors highlighted cautious sentiment towards the company’s market prospects and growth potential. With a lacklustre first day, the firm will be eyeing a stronger investor appetite in the coming days to ensure a successful public listing.

Mandeep Auto Industries Limited IPO Allotment Status

The allotment date for the Mandeep Auto Industries Limited IPO is set for May 16, 2024, with shares priced at a range of ₹67 per share and a face value of ₹10. The offering consists of lots of 2000 shares, with bids accepted for these lots or their multiples.

Mandeep Auto Industries Limited IPO Listing Date 

Mandeep Auto Industries Limited IPO is expected to be listed on the NSE SME on May 21, 2024.

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