The issue generated a demand of close to Rs 2800 crore

The Initial Public Offering of Mangal Electrical Industries Limited was subscribed 9.46 times on the final day of bidding.

The issue received bids of 4,96,74,612 shares against the offered 52,53,301 equity shares, at a price band of ₹533-561, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion were subscribed 10.54 times and 18.79 times respectively, whereas Retail Portion was subscribed 4.84 times. 

Systematix Corporate Services Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.