Mangal Electrical IPO
Open MainLineCurrent GMP
₹-3 (-0.53%)
Price Band
₹ 533 – 561
Lot Size
26
Issue Size
₹400 Cr
Minimum Investment
₹14586 (26 Shares)
Listing Date
28 August 2025
Subscription
9.46x
About the Company
Mangal Electrical Industries Limited, incorporated in 2008, is an Indian manufacturer specializing in transformers and transformer components for the power infrastructure sector. The company operates under the brand "Mangal Electrical", recognized for its strong market reputation and high brand recall.
Core Business Activities
- Manufacturing & Processing:
- Transformer laminations
- CRGO slit coils and wide coils
- Amorphous cores and ribbons
- Coil and core assemblies
- Wound and toroidal cores
- Oil-immersed circuit breakers (ICBs)
- Transformers (5 KVA to 10 MVA)
- Trading:
- CRGO & CRNO coils
- Amorphous ribbons
- EPC Services:
- Turnkey projects for setting up electrical substations
Manufacturing Capacity
Operates 5 production facilities in Rajasthan with annual capacities of:
- 16,200 MT – CRGO
- 10,22,500 KVA – Transformers
- 75,000 units – ICBs
- 2,400 MT – Amorphous units
Certifications & Approvals
- ISO 9001:2015 and ISO 14001:2015
- NABL and PGCIL lab-approved
- PGCIL approval for processing transformers/reactors up to 400 kV
- NTPC approval for CRGO processing
- Uses Brockhaus Messtechnik (Germany) machinery for quality control
Key Customers
- Government & Municipal Utilities: Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd
- Private Sector: Voltamp Transformers Ltd, Western Electrotrans Pvt Ltd
Exports
Exported to countries including:
- Netherlands, UAE, Oman, USA, Italy, Nepal
(Export activity noted in Fiscals 2023–2025)
Employee Strength
As of June 30, 2025: 761 permanent employees
Competitive Strengths
- Strong promoter leadership and experienced management
- Selective regulatory approvals (e.g., PGCIL, NTPC)
- Diversified and loyal customer base
- Backward and forward integration for improved efficiency
- Proven track record of growth and expansion
Promoters
- Rahul Mangal
- Ashish Mangal
- Saroj Mangal
- Aniketa Mangal
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
74.19%
Objects of the Issue
The Company Mangal Electrical IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company
- Capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan
- Funding working capital requirements of the Company
- General corporate purposes
Address / Contact Info
Mangal Electrical Industries Limited
C-61, C-61 (A&B), Road No. 1-C,
V. K. I. Area, Jaipur
302 013, Rajasthan, India
Phone: +91141-4036113
Email: compliance@mangals.com
Website: http://www.mangals.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 20 August 2025
IPO Close Date
Friday, 22 August 2025
Basis of Allotment
Monday, 25 August 2025
Initiation of Refunds
Tuesday, 26 August 2025
Credit of Shares to Demat
Tuesday, 26 August 2025
Listing Date
Thursday, 28 August 2025 — NSE & BSE
Important Dates
Open Date
20 August 2025
Close Date
22 August 2025
Basis Of Allotment
25 August 2025
Listing Date
28 August 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 366.46 | 246.54 | 221.26 |
| Revenue | 551.39 | 452.13 | 357.81 |
| Profit After Tax | 47.31 | 20.95 | 24.74 |
| Net Worth | 162.16 | 114.99 | 93.97 |
| Reserve & Surplus | 0 | 0 | 0 |
| Total Borrowings | 149.12 | 92.12 | 96.64 |
EPS Pre
23.08%
EPS Post
17.12%
P/E Pre
24.31
P/E (Post Issue)
32.77x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 29 | 18 | 26 |
| ROCE % | 25.38 | 19.92 | 23.24 |
| Debt / Equity | 0.92 | 0.8 | 1.03 |
| RoNW % | 34.14 | 20.05 | 30.32 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 8.61 | 4.66 | 6.98 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1500955 | 28.57 | 0 |
| Non-Institutional | 1125704 | 21.43 | 0 |
| BNII | 750470 | 14.29 | 0 |
| SNII | 375234 | 7.14 | 0 |
| Retail Investors | 2626642 | 50 | 0 |
| Total | 5253301 | 100 | 0 |
Subscription Status ( Fri, 22 Aug 25 01:46 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1500955 | 15821702 | 10.54x |
| Non-Institutional | 1125704 | 21152664 | 18.79x |
| BNII | 750470 | 14295476 | 19.05x |
| SNII | 375234 | 6857188 | 18.27x |
| Retail Investors | 2626642 | 12700272 | 4.84x |
| Total | 5253301 | 49674638 | 9.46x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Mangal Electrical Industries Ltd | 10 | 0.00 | 23.08 | 23.08 | 34.14 | 79.10 |
| Vilas Transcore Ltd | 10 | 36.48 | 14.58 | 14.58 | 15.27 | 117.68 |
| Jay Bee Lamination Ltd | 10 | 18.28 | 12.31 | 12.31 | 24.11 | 65.42 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 26 | 14,586.00 |
| Retail (Max) | 13 | 338 | 189,618.00 |
| S-HNI (Min) | 14 | 364 | 204,204.00 |
| S-HNI (Max) | 68 | 1,768 | 991,848.00 |
| B-HNI (Min) | 69 | 1,794 | 1,006,434.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Systematix Corporate Services Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Mangal Electrical IPO is a Book-building IPO worth ₹400 crores. The price band is ₹533 to 561 per share. The IPO opens on Wed, Aug 20, 2025 and closes on Fri, Aug 22, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Mangal Electrical IPO opens on Wed, Aug 20, 2025 and closes on Fri, Aug 22, 2025
Mangal Electrical IPO Price Band is ₹533 to 561.
Mangal Electrical IPO lot size is 26, and the minimum amount required for application is ₹14586.
The minimum investment for Mangal Electrical IPO is approximately ₹14586 based on the upper price band.
To apply for the Mangal Electrical IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Aug 22, 2025. After submission, funds are blocked until the basis of allotment of Mangal Electrical IPO is finalised.
Mangal Electrical IPO issue size is ₹400 crores.
Mangal Electrical IPO allotment date is Sat, Jun 27, 2026.
The registrar for Mangal Electrical IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Mangal Electrical IPO through their official website or helpline.
The Mangal Electrical IPO GMP (Grey Market Premium) is ₹-3 as of Thu, Aug 28, 2025. Based on the upper price band of ₹561 per share, the estimated Mangal Electrical IPO listing price is ₹558, indicating a potential listing gain of approximately 31% over the issue price.