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Mangal Electrical IPO is a bookbuilt issue of Rs 400.00 crore. This issue is entirely a fresh issue of 0.71 crore shares with no offer for sale.
The IPO opens for subscription on August 20, 2025, and closes on August 22, 2025. The allotment is expected to be finalized on Monday, August 25, 2025. The price band for the IPO is set at ₹533 to ₹561 per share, and the minimum lot size for an application is 26 shares.
Company Summary
Incorporated in 2008, Mangal Electrical Industries Limited is engaged in manufacturing transformers that are used for the distribution and transmission of electricity in the power sector.
The company processes transformer components, including lamination, CRGO slit coils, amorphous cores, coil and core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers.
The company markets and sells its products under the brand name “Mangal Electrical,” known for its strong reputation and high brand recall value.
The company trades CRGO and CRNO coils, amorphous ribbons, and manufactures transformers (5 KVA to 10 MVA). It also provides EPC services for setting up electrical substations in the power infrastructure sector.
The company operates five production facilities in Rajasthan with an annual capacity of 16,200 MT for CRGO, 10,22,500 KVA for transformers, 75,000 units for ICB, and 2,400 MT for amorphous units.
Product Portfolio
The company manufactures and supplies critical components for transformers used in electricity distribution and transmission, including small, distribution, and large transformers, contributing to energy-saving electrical equipment.
- CRGO Wide Coil: The company manufactures CRGO-wide coils with high magnetic permeability and low core loss, ideal for large transformers where high efficiency is crucial for optimal performance.
- CRGO Slit Coil: The company manufactures precision slit coils from CRGO sheets, ensuring exact dimensions for transformer core construction, reducing energy loss, and enhancing efficiency in transformer production where precise sizing is essential.
- CRGO Core Assembly: The company assembles CRGO laminations for core assemblies, ensuring low core loss and high efficiency, used in various transformers to minimize energy loss and optimize operational performance.
As of June 30, 2025, the company had 761 permanent employees in the registered and corporate offices and across all the units.
Company Strengths
- Promoters exhibit strong leadership and are supported by experienced senior management.
- Exhibition of certain approvals available to selected market players.
- Diversified base of customers.
- Strong backward and forward integration, which ensures operational efficiency.
- Proven track record of consistent growth.
Company Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 366.46 | 246.54 | 221.26 |
| Total Income | 551.39 | 452.13 | 357.81 |
| Profit After Tax | 74.31 | 20.95 | 24.74 |
| EBITDA | 81.84 | 42.63 | 44.42 |
| Net Worth | 162.16 | 114.99 | 93.64 |
| Total Borrowing | 149.12 | 92.12 | 96.64 |
| Amount in ₹ Crore | |||
Objectives of IPO
- 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 the working capital requirements of the Company
- General corporate purposes
Promoters of the Company
Rahul Mangal, Ashish Mangal, Saroj Mangal, and Aniketa Mangal are the promoters of the company.
IPO Details
| IPO Date | August 20, 2025 to August 22, 2025 |
| Listing Date | August 28, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹533 to ₹561 per share |
| Lot size | 26 shares |
| Total Issue size | 71,30,124 shares (aggregating upto ₹400.00 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 2,05,00,000 shares |
| Share Holding Post Issue | 2,76,30,124 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 26 | ₹14,586.00 |
| Retail (Max) | 13 | 338 | ₹1,89,618.00 |
| S-HNI (Min) | 14 | 364 | ₹2,04,204.00 |
| S-HNI (Max) | 68 | 1,768 | ₹9,91,848.00 |
| B-HNI (Min) | 69 | 1,794 | ₹10,06,434.00 |
Allotment Schedule
| Basis of Allotment | Mon, 25 Aug, 2025 |
| Initiation of Refunds | Tue, 26 Aug, 2025 |
| Credit of Shares to Demat | Tue, 26 Aug, 2025 |
| Tentative Listing Date | Thu, 28 Aug, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 22, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
To check allotment, click here
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