New Delhi, Aug. 22 -- After a slow start, Mangal Electrical's initial public offer (IPO) closed with decent demand on Friday, August 22. The Mangal Electrical IPO had opened for subscription on August 20, with the issue sailing through on the second day of the book-building process.

Mangal Electrical IPO was booked 2.08 times at the end of the second day of subscription on Thursday.

Meanwhile, as of close on Friday, Mangal Electrical IPO was subscribed 9.46 times, with the issue garnering bids for 4,96,74,638 shares as against 52,53,301 shares on offer.

The retail portion was booked 4.84 times, the NII portion was subscribed 18.79 times, and the QIB portion received 10.54 times bids.

Now, with the closure of the public offer, Mangal E...