Description

Mangal Electrical Industries Limited announces allocation of 21,39,020 equity shares to anchor investors at Rs. 561 per share for their public issue.

Summary

Mangal Electrical Industries Limited has completed the allocation of anchor investor portion for their public issue. The IPO Committee finalized allocation of 21,39,020 equity shares to 10 anchor investors at Rs. 561 per share (including premium of Rs. 551), totaling the anchor investor portion of the IPO.

Key Points

  • Total anchor allocation: 21,39,020 equity shares at Rs. 561 per share
  • Face value: Rs. 10 per share with premium of Rs. 551 per share
  • 10 anchor investors participated with allocations ranging from 4.17% to 31.67% of anchor portion
  • Largest allocation: 6,77,352 shares (31.67%) to ABAKKUS DIVERSIFIED ALPHA FUND
  • No domestic mutual funds applied for anchor investor portion
  • Book Running Lead Manager: Systematix Corporate Services Limited

Regulatory Changes

As per SEBI (ICDR) Regulations 2018, if the final offer price discovered through book building is higher than Rs. 561, anchor investors must pay the difference by the specified pay-in date in the revised Confirmation of Allocation Note (CAN).

Compliance Requirements

  • Anchor investors must pay any price difference if final offer price exceeds Rs. 561
  • Payment to be made by pay-in date specified in revised CAN
  • Company has disclosed allocation details to BSE for public information

Important Dates

  • August 19, 2025: IPO Committee meeting and anchor allocation finalization
  • Pay-in date for price difference: To be specified in revised CAN (if applicable)

Impact Assessment

The anchor investor allocation represents institutional confidence in the IPO. With foreign portfolio investors and alternative investment funds participating, this indicates strong institutional interest. The absence of domestic mutual funds suggests selective participation. The pricing at Rs. 561 per share sets a benchmark for the retail and institutional portions of the public issue.

Impact Justification

IPO anchor allocation is significant for market participants but limited to specific investor segment