Mangal Electrical Industries was incorporated on April 01, 2008. The company processes transformer components like transformer lamination, CRGO slit coils, amorphous cores, coil assemblies, and oil-immersed circuit breakers. It also manufactures transformers (5 KVA to 10 MVA), custom products for the power infrastructure industry, and provides EPC services for electrical sub-station setups
| Bidding Dates |
|---|
| 20 Aug 2025 - 22 Aug 2025 |
| Subscription |
|---|
| 9.46x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,858 | 1 | 13 | 26 | 7.1 M | ₹533 - ₹561 | 74.19 % | ₹3800.4 M - ₹4000.0 M | RHP DOC |
Mangal Electrical Industries IPO SUBSCRIPTION STATUS
22 Aug '25Mangal Electrical Industries IPO overall subscription rate was 9.46 times the total available shares
Mangal Electrical Industries IPO retail subscription rate was 4.84 times in the retail segment
Mangal Electrical Industries IPO non-institutional investor subscription rate was 18.79 times in the non-institutional investor category
Mangal Electrical Industries IPO Qualified Institutional Bidder subscription rate was 10.54 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Aug 2025 (Day 3) | 4.84x | 18.79x | 10.54x |
21 Aug 2025 (Day 2) | 2.08x | 4.2x | 0.13x |
20 Aug 2025 (Day 1) | 0.7x | 0.72x | 0.12x |
Mangal Electrical Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 549.4 | 47.3 | -30.1 | -42.0 | 14.9% |
| FY24 | 449.5 | 20.9 | 36.6 | 25.1 | 9.5% |
| FY23 | 354.3 | 24.7 | 27.4 | 24.1 | 12.5% |
Mangal Electrical Industries IPO SUBSCRIPTION STATUS DETAILS
Mangal Electrical Industries had 7.1 M shares on offer
Mangal Electrical Industries IPO offer price was in the range ₹533 - ₹561
Mangal Electrical Industries IPO minimum Investment was ₹13858
Mangal Electrical Industries IPO issue size was ₹ 3800.4 M - ₹ 4000.0 M
Mangal Electrical Industries had a minimum lot size of 26 Shares per application
Mangal Electrical Industries NUMBER OF SHARES ON OFFER
Mangal Electrical Industries IPO IMPORTANT DATES
| Issue Open Date | 20 Aug 2025 |
| Issue close Date | 22 Aug 2025 |
| Allotment Date | 25 Aug 2025 |
| Refund Date | 26 Aug 2025 |
| Demat Account Credit Date | 26 Aug 2025 |
| Listing Date | 28 Aug 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Mangal Electrical Industries Allotment Status | Exchange/ Registrar |
Mangal Electrical Industries IPO subscription opened on 20 Aug 2025, and closed on 22 Aug 2025
IPO allotment for Mangal Electrical Industries was finalized on Monday, 25 Aug 2025
IPO listing for Mangal Electrical Industries was on NSE and BSE on Thursday, 28 Aug 2025
Mangal Electrical Industries IPO LISTING GAINS
| Issue Price (adjusted) | 561.0 |
| Listing Open Price | 556.0 |
| Listing Close Price | 535.4 |
| Listing Gain% | -0.9% |
| Current Gain% | -50.7% |
Mangal Electrical Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mangal Electrical Industries Ltd. | 276.4 | 763.7 | 16.3 | 5.4 | 1.2 | 7.3 | 6.1 | 587 | 6.5 | 43.2 | -8.7 | 17 | 3 |
| ABB India Ltd. | 7600 | 161050.4 | 53.9 | 11.8 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Hitachi Energy India Ltd. | 32600 | 145306 | 126.3 | 1 | 15.9 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Bharat Heavy Electricals Ltd. | 405.2 | 141093.2 | 58 | 0.1 | 3.9 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| Siemens Ltd. | 3940.1 | 140315 | 90.2 | -2.2 | 7.8 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 43.7 | -40.3 |
| CG Power and Industrial Solutions Ltd. | 879 | 138482.1 | 110.8 | 4.5 | 10.8 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
Mangal Electrical Industries INFORMATION ON IPO ISSUE
About Mangal Electrical Industries
Mangal Electrical Industries was incorporated on April 01, 2008. The company processes transformer components like transformer lamination, CRGO slit coils, amorphous cores, coil assemblies, and oil-immersed circuit breakers. It also manufactures transformers (5 KVA to 10 MVA), custom products for the power infrastructure industry, and provides EPC services for electrical sub-station setups
Object of the Issue
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the company
- Capital expenditure for expanding the facility at unit IV situated in Reengus, Sikar District, Rajasthan, and civil works at its existing head office, Jaipur, Rajasthan, to optimise space usage and increase storage capacity
- Funding the working capital requirements of the company
- General corporate purposes
Mangal Electrical Industries - PROMOTERS
| Name |
|---|
| Rahul Mangal |
| Ashish Mangal |
| Aniketa Mangal |
| Saroj Mangal |
Mangal Electrical Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Rahul Mangal | Chairman & Managing Director |
| Ashish Mangal | Non-Executive Director |
| Sumer Singh Punia | Executive Director |
| Ompal Sharma | Executive Director |
| Aniketa Mangal | Executive Director |
| Tanvi Surana | Independent Director |
| Sandeep Purohit | Independent Director |
| Manoj Maheshwari | Independent Director |
| Apaar Kasliwal | Independent Director |
| Ram Karan Aameria | Independent Director |
Mangal Electrical Industries Book Running Lead Manager
Systematix Corporate Services Limited
mangal@systematixgroup.in
Mangal Electrical Industries Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Mangal Electrical Industries Strengths
Strong backward and forward integration
A key strength of the business is its backward and forward integration, improving operational efficiency and competitive advantage. Backward integration includes in-house capabilities for procuring and processing critical raw materials like CRGO, Amorphous, and ICB, ensuring quality, cost control, and reduced dependency on external suppliers
Growth in power infra & energy efficiency
India’s substation capacity has seen significant growth, driven by the expansion of power infrastructure to meet rising electricity demand. The government’s focus on enhancing power infrastructure and promoting energy efficiency creates a favourable environment for the transformer industry
Diversified customer base
The company's strength lies in its highly diversified customer base, spanning India and globally. Serving power utilities, industrial conglomerates, infrastructure developers, and public sector enterprises, it mitigates sector-specific risks and enhances market resilience while capitalising on growth opportunities across various geographies and industries
Mangal Electrical Industries Risks
Price fluctuations
The costs of raw materials used in manufacturing are subject to volatility beyond the company's control. Fluctuations in raw material prices could materially impact its business, financial condition, operations, and cash flows
Counterfeit risk
The availability of counterfeit products and failure to protect trademarks, brand names, or identities could negatively impact the business and its competitive position
Competition
The company faces significant competition in the CRGO and transformer products market, with challenges such as rapid technological changes, evolving industry standards, and price erosion throughout a product's life
IPO FAQs
The promoters of the company are Rahul Mangal, Ashish Mangal, Aniketa Mangal and Saroj Mangal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 533.0 - 561.0.
The IPO application opens on Aug 20, 2025 and closes on Aug 22, 2025.
The minimum lot size for the IPO is 26. The maximum lot size for the IPO is 338.
For all category investors, the minimum application amount for this IPO is Rs. 13,858.0, the maximum value for this IPO is Rs 189,618.0.
This IPO will be allotted on Aug 25, 2025.
The refund will be credited to your account on Aug 26, 2025.
The allotted shares will be credited to your demat on Aug 26, 2025.
Mangal Electrical Industries Ltd.’s shares listed on the stock exchanges on Aug 28, 2025.