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IndiGo Shares Drop Over 4% Amid Gangwal Family Block Deal; Mangal Electrical Lists at Discount
IndiGo Shares Drop Over 4% Amid Gangwal Family Block Deal; Mangal Electrical Lists at Discount
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BTCCSquare news:
IndiGo's shares tumbled more than 4% following a block deal by the Gangwal family, signaling potential shifts in investor sentiment toward the airline sector. Meanwhile, Mangal Electrical Industries Ltd made a lackluster market debut, listing at a 0.53% discount on the BSE and a 0.89% discount on the NSE against its issue price of ₹561.
The transformer components manufacturer saw its stock oscillate between ₹547 and ₹566 post-listing, with its market valuation settling at ₹1,521.04 crore. The IPO, which was oversubscribed 9.46 times, aimed to raise ₹400 crore through a fresh issue to repay debt, expand Rajasthan facilities, and bolster working capital.
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