Mumbai, Aug. 21 -- The initial public offer of Mangal Electrical Industries received bids for 1,03,81,202 shares as against 52,53,301 shares on offer, according to stock exchange data at 17:00 IST on Thursday (21 August 2025). The issue was 1.98 times.

The issue opened for bidding on 20 August 2025 and it will close on 22 August 2025. The price band of the IPO is fixed between Rs 533 and 561 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

The IPO comprises entirely of fresh issue of equity shares, aggregating to Rs 400 crore.

Of the net proceeds from the fresh issue, about Rs 87.8563 crore will be used to meet capital expenditure including civil works of Unit IV expansion at Reengus (Sikar Dis...