Mangal Electrical IPO Live Updates: Check Day Two Subscription Status, GMP, Other Details

Mangal Electrical IPO GMP: The initial public offering of transformer components manufacturer Mangal Electrical Industries Ltd is witnessing its second day of bidding today, Thursday, August 21. The price of the Rs 400-crore IPO has been fixed in the range of Rs 533 to Rs 561 per share. Till 10:03 am on the second day of bidding on Thursday, the issue received a 0.60x (or 60 per cent) subscription, garnering bids for 29,95,018 shares as against the 49,91,105 shares on offer.

The retail and NII participation stood at 0.79x and 0.78x, respectively. The QIB category was subscribed by 0.13x.

The IPO’s grey market premium on Wednesday stood at 5.88%, indicating a weak market debut.

The price band of the IPO has been fixed in the range of Rs 533 to Rs 561 per share.