Mangal Electrical IPO: Mangal Electrical Industries Ltd.’s initial public offering was subscribed 2.67 times so far on its final day, as non-institutional buyers lead bidding. The Jaipur-based transformer components manufacturer was subscribed 1.98 times on the second day of bidding and received 54% subscription on the first day of bidding.
The mainboard IPO is a book-built issue worth Rs 400 crore. The entire offering comprises a fresh issue of 71 lakh equity shares, with no offer-for-sale component. Investors can bid for at least a single lot size of 26 shares, amounting to a minimum investment of Rs 13,858 for retail investors.
For small non-institutional investors, the minimum bid is 14 lots (364 shares) amounting to Rs 2,04,204, while for big non-institutional investors (bNII), the minimum application size is 69 lots, or 1,794 shares, translating to an investment of Rs 10,06,434.
The company’s shares are tentatively scheduled to list on the BSE and NSE on Aug. 28. Systematix Corporate Services Ltd. is acting as the book-running lead manager for the Mangal Electrical IPO, while Bigshare Services Pvt. Ltd. has been appointed as the issue’s registrar.
