Mangal Electrical IPO opens on August 20; check price band, lot size, objectives and key dates

Mangal Electrical IPO: The initial public offering of Mangal Electrical Industries, which is involved in the manufacturing of transformers, will open for subscription on Wednesday, August 20. The issue will end on August 22. The price band has been set at ₹533 to ₹561 per share.

The initial share sale seeks to raise ₹400 crore via fresh issuance of equity shares. There is no offer for sale (OFS) component.

The fresh issue proceeds will be utilised for repayment of debt, working capital requirements and capital expenditure, including civil works for expanding the facility at Unit IV located at Reengus in Rajasthan's Sikar District to optimise space usage and increase storage capacity. A part will also be used for general corporate purposes.

Mangal Electrical IPO lot size

An application consists of 26 shares and in multiples thereafter. Half of the net issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Mangal Electrical IPO timeline: Allotment and listing dates

Systematix Corporate Services is the IPO's book-running lead manager, while Bigshare Services Pvt Ltd serves as the registrar of the issue.

About Mangal Electrical

Mangal Electrical Industries specialises in processing transformer components such as transformer laminations, amorphous cores, CRGO slit coils, coil and core assemblies, oil-immersed circuit breakers, and wound and toroidal cores. It also manufactures transformers as well as customised products for the power infrastructure industry.

Its transformers range from single-phase 5 kilovolt-amperes (KVA) to three-phase 10 MVA units. It also provides engineering, procurement, and construction (EPC) services to set up electrical substations.

The company had posted a 125.88% surge in its profit after tax to ₹47.3 crore in the financial year 2024-25, compared to ₹20.94 crore a year back. Its revenue from operations increased 22.23% year-on-year (YoY) to ₹549.42 crore.