Mangal Electrical shares slip 2% as anchor lock-in ends; details here

Mangal Electrical Industries' shares saw their three-month lock-in period end on November 24, with about 11 lakh shares set to be freed up for trade

Shares of Mangal Electrical Industries Ltd. slipped over 2 per cent on Monday as anchor investors were allowed to offload their stake after the lock-in period ended. 

 

The electrical equipment company's stock fell as much as 2.3 per cent during the day to ₹417.3 per share. The stock pared losses to trade 1.5 per cent lower at ₹421 apiece, compared to a 0.20 per cent advance in Nifty 50 as of 10:17 AM. 

 

Shares of the company fell for the fifth straight session, down 7 per cent in the process. The counter has fallen 24 per cent since listing on August 28 this year, compared to a 6 per cent advance in the benchmark Nifty 50. Mangal Electrical has a total market capitalisation of ₹1,164.61 crore.  

 

Mangal Electrical's anchor lock-in ends

Mangal Electrical Industries' shares saw their three-month lock-in period end on November 24, with about 11 lakh shares of the company set to be freed up for trade. The first lock-in end date for these anchor investors ended on September 24, 2025

 

Ahead of its IPO, Mangal Electrical mobilised ₹120 crore from anchor investors. As per the circular, the company had allotted 21.39 lakh equity shares to these institutional investors at ₹561 apiece, taking the total fundraising to ₹120 crore.

 

The institutional investors who participated in the anchor round included Abakkus Diversified Alpha Funds, LC Pharos Multi Strategy Fund VCC, Societe Generale, Finavenue Capital Trust, Swyom India Alpha Fund, Sundaram Alternative Investment Trust, Imap India Capital Investment Trust, Sunrise Investment Trust and Aarth AIF Growth Fund. 

Mangal Electrical IPO details

The IPO comprised a fresh issue of 7.1 million equity shares. Shares were offered in a price band of ₹533 to ₹561, with a minimum application size of 26 shares. The issue was oversubscribed 9.46 times, reflecting moderate demand across investor categories.

 

Mangal Electrical Industries specialises in processing transformer components, including transformer laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. The company also trades in CRGO and CRNO coils, as well as amorphous ribbons.  

 

Additionally, it manufactures transformers and customised products for the power infrastructure industry. The company’s transformer range spans from single-phase 5 KVA to three-phase 10 MVA units. Mangal Electrical Industries also offers EPC services for setting up electrical substations, serving the power sector.