Mangal Electrical's IPO subscribed nearly 3x
Mangal Electrical Industries's IPO wrapped up with strong demand, getting bids for almost three times the shares on offer.
Retail investors subscribed nearly 3x their quota, while non-institutional investors drove most of the action.
Shares were priced at ₹533-561 each.
Non-institutional investors led the way
Non-institutional investors led the way, subscribing 6.68 times their portion—especially in the ₹2-10 lakh bid range, which was oversubscribed over 8 times.
In contrast, big institutional buyers barely participated.
Mangal Electrical makes transformer parts
Mangal Electrical makes transformer parts like CRGO slit coils and circuit breakers, and also handles engineering projects for substations.
Their clients include government utilities and private firms across India, plus exports to places like the Netherlands and UAE.
Company raised funds through this IPO
The company raised funds through this IPO, which will help pay off debt and fund expansion plans.
Anchor investors had already put in about ₹120 crore before public bidding opened.