IPO Details

Bidding Dates

13 May '24 - 15 May '24

Minimum Investment

₹1,34,000/ 1 Lot (2000 shares)

Price Range


Maximum Investment

₹1,34,000/ 1 Lot (2000 shares)

Retail Discount

To be announced

Issue Size

₹25.25 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

May 13, 2024

Closing Date

May 15, 2024

Basis of Allotment

May 16, 2024

Initiation of Refunds

May 17, 2024

Credit of Shares to Demat

May 17, 2024

Listing Date

May 21, 2024

Cut-off time for UPI mandate confirmation

May 15, 2024

About Mandeep Auto Industries Limited

Mandeep Auto Industries Limited, founded in 2000, specialises in manufacturing and supplying various products, including sheet metal components, auto parts, sprocket gears, and machined components. These products find applications in a variety of sectors, such as automobiles, tractors, material handling, earth-moving equipment, railways, defence, machine tools, and the DIY industry.

The company is known for its Press and Machining Components expertise, bolstered by a team of experienced professionals. Mandeep Auto Industries Limited is also recognised for its commitment to quality and environmental management, holding ISO 14001:2015 and ISO 9001:2015 certifications.

With a focus on both domestic and international markets, the company's notable clients include J.L Auto Parts Pvt. Ltd. in Faridabad, Haryana; Tube Investments of India Limited in Chennai, Tamil Nadu; Rockman Industries Limited in Saket, New Delhi; Manvi Automobiles in Faridabad, Haryana; and Jain Industrial Products Private Limited in Hissar, Haryana.

As of November 2023, Mandeep Auto Industries employs 54 individuals alongside 15 contract labourers, demonstrating its robust operational scale and commitment to industry leadership.

Industry Outlook:

  1. The automotive sector continues to be a robust contributor to India's GDP, with over 22.9 million vehicles produced in FY 2021-22 and steady growth in domestic sales. This growth and stability in the industry provide a conducive environment for Mandeep Auto Industries Limited to expand its operations and customer base.
  2. With India's automotive industry gaining recognition globally, there are ample opportunities for export growth. Mandeep Auto Industries Limited can leverage this by focusing on quality, innovation, and customised solutions to attract international clients and establish a strong presence in global markets.

Mandeep Auto Industries Limited IPO Details

Mandeep Auto Industries Limited IPO Dates

Mandeep Auto Industries Limited IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.

Mandeep Auto Industries Limited IPO Price Band

Mandeep Auto Industries Limited is a Fixed Price Issue IPO. The price per share is set at ₹67 per share.

Mandeep Auto Industries Limited IPO Lot Size

The lot size for Mandeep Auto Industries Limited IPO is 2000 shares with a minimum investment of ₹1,34,000.

Mandeep Auto Industries Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Mandeep Auto Industries Limited plans to use funds to expand its existing manufacturing facility in Faridabad, Haryana. This expansion includes constructing a new building and acquiring equipment to boost production capacity and efficiency.
  2. The company aims to repay/prepay certain term loans and working capital facilities using the funds raised. This strategy is intended to reduce outstanding debt, improve the debt-equity ratio, and strengthen the company's financial position.
  3. Funds will be allocated to meet the working capital requirements of the company, supporting day-to-day operations, business growth, and expansion plans during the current and upcoming financial years.
  4. The remaining funds will be utilised for general corporate purposes, such as strategic initiatives, acquisitions, R&D, fixed assets acquisition, and meeting expenses incurred in the ordinary course of business, ensuring flexibility and operational continuity.

Peer Details

The following are the listed peers of Mandeep Auto Industries Limited:

  1. Kranti Industries Limited
  2. Porwal Auto Components Limited
  3. Lumax Auto Technologies Limited

How to Check the Allotment Status of the Mandeep Auto Industries Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Mandeep Auto Industries Limited IPO

  • Registered office: Plot No 26, Nangla, Faridabad, Haryana -121001
  • Phone: +91-129-2440045
  • E-mail:info@mandeepautoindustries.com

IPO Financials

Particulars As of December 31,2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Revenue from Operation (in ₹) 165,676,213 290,891,415 218,973,271 156,349,385
Profit After Tax (PAT) (in ₹) 21,492,785 10,491,003 6,469,086 4,981,025
Cash and Cash Equivalents (in ₹) 2,030,892 296,370 462,820 220,456
Return on Net Worth (%) 25.97 23.13 15.64 17.76
Return on Equity (%) 30.15 24.20 18.64 29.85
Return on Capital Employed (RoCE) (%) 27.94 28.18 17.02 24.61
EBITDA(in ₹) 33,989,283 22,092,796 14,411,905 12,576,409

Know before investing


  1. The company's wide array of products, including precision sheet metal components, auto parts, and sprocket gears, caters to a broad customer base in the domestic market. This product diversity enhances market penetration and revenue streams.

  2. Mandeep Auto Industries has fostered long-standing relationships with clients and suppliers, demonstrating a commitment to reliability and quality in business dealings. This rapport contributes to sustained business growth and operational efficiency.

  3. The company places a strong emphasis on quality, as evidenced by ISO certifications for maintaining quality standards and environmental policies. This commitment to global quality benchmarks attracts both domestic and international customers, enhancing the company's reputation and market share.


  1. The company faces challenges in obtaining and renewing various approvals, permits, and licences required to operate its business. Delays or failures in obtaining these approvals promptly may disrupt operations and impact financial performance.

  2. The land where the existing manufacturing unit is situated and expansion activities are planned is categorised as agricultural land. Obtaining necessary permissions and approvals for land use change is crucial for the proposed expansion. Any delays or denials in these approvals can hinder the expansion plans and affect business operations and financial conditions.

  3. Mandeep Auto Industries faces challenges in evaluating historical performance and projecting future prospects as a relatively new company with a limited operating history. Investors may find assessing the company's viability difficult based on its short track record, which could affect investor confidence and funding opportunities.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

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Mandeep Auto Industries Limited IPO FAQs

What is the Mandeep Auto Industries Limited IPO?

Mandeep Auto Industries Limited IPO is a Fixed Price Issue IPO. The IPO is open from Monday, May 13, 2024, to Wednesday, May 15, 2024. The IPO will be listed on NSE SME.

When will Mandeep Auto Industries Limited IPO be allotted?

The Basis of Allotment will happen on Thursday, May 16, 2024.

When will Mandeep Auto Industries Limited IPO open for subscription?

The IPO subscription window will open on Monday, May 13, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.

When will Mandeep Auto Industries Limited list on exchanges?

The listing date for Mandeep Auto Industries Limited IPO is Tuesday, May 21, 2024.

What would be the listing gains on the Mandeep Auto Industries Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Mandeep Auto Industries Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Mandeep Auto Industries Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Mandeep Auto Industries Limited using one PAN?

You can submit only one application using your PAN card.