Sunday, September 06
Mangal Electrical Industries' pre-listing shareholder lock-in is likely to be lifted on Monday, November 24 and nearly 10 lakh shares accounting for 4% of the total outstanding shares are set to enter the markets, according to Nuvama's estimates.While the shares will be eligible for sale, the onus rests with the investors whether to sell them or not.Mangal Electrical Industries, which manufactures and supplies critical components for transformers, which are used in electricity transmission and distribution, had a forgettable market debut as the shares were listed at a discount of nearly 1% over the issue price of Rs 561. On the BSE, the shares were listed at 558 while on the NSE at Rs 556.The story has been no different since its August 25 listing. The stock has plunged 24% over the IPO pr
