Mangal Electrical Industries IPO
Bookbuilding IPO | ₹400.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Aug 20, 2025
IPO Close
Fri, Aug 22, 2025
Price Band
₹533.00 to ₹561.00
Market Cap (Pre-IPO)
₹1,550.05 Cr
IPO Details
| IPO Date | Aug 20, 2025 to Aug 22, 2025 |
| Listing Date | Tentative: Aug 28, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹533.00 to ₹561.00 |
| Lot Size | 26 Shares (Minimum: ₹14,586.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹400.00 Crores |
| Total Shares Offered | 7,130,124 shares |
| Offer For Sale | 7,130,124 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 11.09x |
| NII | 19.78x |
| RII | 5.09x |
| Total | 9.95x |
Mangal Electrical Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 35,65,061 (50.00%) |
| Retail Shares Offered | 24,95,544 (35.00%) |
| NII Shares Offered | 10,69,519 (15.00%) |
Mangal Electrical Industries IPO Lot Size
Investors can bid for a minimum of 26 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,586 |
| Retail (Max) | 13 | 338 | ₹189,618 |
| S-HNI (Min) | 14 | 364 | ₹204,204 |
| S-HNI (Max) | 68 | 1,768 | ₹991,848 |
| B-HNI (Min) | 69 | 1,794 | ₹1,006,434 |
Mangal Electrical Industries Financial Information (Restated Consolidated)
Mangal Electrical Industries Ltd.'s revenue increased by 22% and profit after tax (PAT) rose by 126% between the financial year ending with March 31, 2025 and March 31, 2024.
| 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 | 47.31 | 20.95 | 24.74 |
| EBITDA | 81.84 | 42.63 | 44.42 |
| NET Worth | 162.16 | 114.99 | 93.97 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 149.12 | 92.12 | 96.64 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 29.00% |
| ROCE (Return on Capital Employed) | 25.38% |
| Debt/Equity | 0.92 |
| RoNW (Return on Net Worth) | 34.14% |
| PAT Margin (Profit After Tax Margin) | 8.61% |
| EBITDA Margin | 14.90% |
| Price to Book Value | 7.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 23.08 | 17.12 |
| P/E (x) | 24.31 | 32.77 |
| Promoter Holding | 100.00% | 74.19% |
Company Promoters
- Rahul Mangal
- Ashish Mangal
- Saroj Mangal and Aniketa Mangal are the promoters of the company.
Company Overview
Incorporated in 2008, Mangal Electrical Industries Limited is engaged in manufacturing the 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, and 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.
Products 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.
Use of Proceeds
| 1) | Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company | 101.27 |
| 2) | Capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan | 87.86 |
| 3) | Funding working capital requirements of the Company | 122.00 |
| 4) | General corporate purposes | 64.84 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Mangal Electrical Industries IPO Peer Comparison
Mangal Electrical Industries peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Mangal Electrical Industries Limited | 23.08 | 23.08 | 79.10 | 0.00 | 34.14 | 0.00 | - |
| Vilash Transcore Limited | 14.58 | 14.58 | 117.68 | 36.48 | 15.27 | 4.54 | - |
| Jay Bee Laminations Limited | 12.31 | 12.31 | 65.42 | 18.28 | 24.11 | 3.46 | - |
Quick Info
| Sector | Electrical Equipment |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,550.05 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Aug 20, 2025 |
| IPO Close | Aug 22, 2025 |
| Allotment Date | Aug 25, 2025 |
| Credit to Demat | Aug 26, 2025 |
| Listing Date | Tentative: Aug 28, 2025 |
Lead Manager(s)
Systematix Corporate Services Ltd.
Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Description
- Mangal Electrical IPO is a book build issue of ₹400.00 crores. The issue is entirely a fresh issue of 0.71 crore shares of ₹400.00 crore.
- Mangal Electrical IPO bidding started from Aug 20, 2025 and ended on Aug 22, 2025. The allotment for Mangal Electrical IPO was finalized on Aug 25, 2025. The shares got listed on BSE, NSE on Aug 28, 2025.
- Mangal Electrical IPO price band is set at ₹561.00 per share . The lot size for an application is 26. The minimum amount of investment required by an retail is ₹14,586 (26 shares) (based on upper price). The lot size investment for sNII is 14 lots (364 shares), amounting to ₹2,04,204, and for bNII, it is 69 lots (1,794 shares), amounting to ₹10,06,434.