Mangal Electrical Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

MEIL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹310.90

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₹307.00

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AI summary

Mangal Electrical Industries Limited, listed on BSE and NSE since August 2025, has filed its quarterly statement confirming no deviation or variation in the utilization of IPO proceeds for the quarter ended March 31, 2026. The company raised Rs. 40,000 lakhs (Rs. 400 crore) through its Initial Public Offer in August 2025. CARE Ratings Limited is the monitoring agency for the IPO. The filing is a standard compliance requirement under SEBI Listing Regulations and confirms that the IPO funds have been used as intended without any deviations.

Likely market impact

This is a positive development for shareholders as it confirms proper utilization of IPO funds with no deviations, indicating good corporate governance and adherence to stated objectives.