Mangal Electrical Industries garnered Rs 120 crore from anchor investors, including Abakkus Diversified Alpha Funds and Societe Generale, ahead of its IPO. The company allotted 21.39 lakh equity shares at Rs 561 apiece. The IPO, opening August 20, aims to raise Rs 400 crore for debt repayment, facility expansion, and working capital.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets