Mangal Electrical ₹400 crore IPO opens on August 20: Check price band, financials and other key details

Mangal Electrical Industries will launch its ₹400 crore initial public offering (IPO) on August 20. The IPO will remain open for subscription till August 22. The IPO is a completely fresh issue of over 71 lakh shares.

Mangal Electrical Industries manufactures transformers ranging from single-phase 5 KVA to three-phase 10 MVA units. It 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 CRGO and CRNO coils, as well as amorphous ribbons. Additionally, it provides EPC services for setting up electrical substations, serving the power sector.

Mangal Electrical Industries IPO details

Mangal Electrical Industries IPO aims to raise ₹400 crore through its public issue. The issue is a 100% fresh issue of over 71.3 lakh shares.

The company has fixed the price band of the issue at ₹533 to ₹561 per share. The lot size, or the minimum bid quantity to apply for the issue, is 26 shares. This equates to a minimum investment amount of ₹14,586 per lot at the upper end of the price band for retail investors.

Mangal Electrical Industries has appointed Systematix Corporate Services as the book-running lead managers of the IPO, while Bigshare Services is the registrar for the issue.

Mangal Electrical Industries IPO: Important dates

Mangal Electrical Industries' IPO will remain open for bidding from 20 to 22 August. After the bidding is closed, the allotment of shares is expected to be finalised on August 25.

Successful bidders can expect the shares to be credited to their demat accounts by August 26, with others receiving refunds on the same day. Mangal Electrical Industries shares are scheduled to list on the BSE and NSE on August 28.

Mangal Electrical Industries IPO objective

• Capital expenditure: The company will use ₹87.86 crore for expanding the facility at Reengus Sikar District, Rajasthan.
• Working capital: The company will use ₹122 crore towards its working capital requirements.
• Repayment of borrowings: The company will use ₹101.27 crore for repayment of borrowings availed by it.
• General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes.

Financial snapshot:

About the company

Mangal Electrical Industries operates five production facilities in Rajasthan with an aggregate production capacity of 16,200 MT for CRGO, 1,022,500 KVA for transformers, 75,000 units for ICB, and 2,400 MT for amorphous units per annum. Unit I is located in Jaipur with a CRGO capacity of 3,000 MT; Unit III produces ICB and CRGO with capacities of 75,000 units and 900 MT, respectively; while Unit IV in Sikar handles transformers (10,22,500 KVA), CRGO (12,000 MT), and amorphous (2,400 MT) production.

Its customer mix primarily includes governmental and municipal utilities such as Ajmer Vidyut Vitran Nigam Limited (AVVNL) and Jaipur Vidyut Vitran Nigam Limited (JVVNL), as well as private sector energy producers like Voltamp Transformers Limited and Western Electrotrans Private Limited. The company has a presence across India and has exported transformer components to the Netherlands, the United Arab Emirates, Oman, the United States of America, Italy and Nepal.

The West region contributed the highest revenue at 61.40% in FY25, followed by the North region at 23.48% and the South region at 13.93%. State-wise, Gujarat led with 31.22%, followed by UP at 20.14% and Rajasthan at 19.33% in FY25.