Mangal Electrical Industries shares made a muted debut on Thursday, listing at ₹556 on NSE, down 0.89% from its IPO price of ₹561. On BSE, the stock listed at ₹558, a 0.5% discount to the issue price.
The ₹400-crore IPO witnessed strong investor demand, closing with an overall subscription of 9.95 times. Breaking it down:
- Retail quota: 5.09 times oversubscribed
- Non-Institutional Investors (NIIs): 19.78 times
- Qualified Institutional Buyers (QIBs): Fully subscribed at 11.09 times
IPO Details
- Issue type: Fresh issue of 0.71 crore shares worth ₹400 crore
- Price band: ₹533–561 per share
- Minimum lot size: 26 shares (₹13,858 for retail investors)
- Proceeds usage:
- Repayment/prepayment of existing borrowings
- Capital expenditure including expansion of Unit IV manufacturing facility at Reengus, Sikar, Rajasthan
- Working capital and general corporate purposes
Book-running lead manager: Systematix Corporate Services Ltd
Registrar: Bigshare Services Pvt. Ltd
About Mangal Electrical Industries
Incorporated in 2008 and converted into a public limited company in 2024, the Jaipur-based company manufactures transformer components, complete transformers, and EPC substation solutions. Its product portfolio includes laminations, CRGO slit coils, amorphous, wound and toroidal cores, coil-core assemblies, and oil-immersed circuit breakers, alongside turnkey EPC services for electrical substations.
Financial Performance:
- Revenue: ₹315.80 crore in FY23 → ₹551.39 crore in FY25
- PAT: ₹17.55 crore in FY23 → ₹47.31 crore in FY25
Disclaimer: The information provided is for general market awareness and news purposes only. Investors should consult certified financial advisors before making any investment decisions.
