Mangal Electrical IPO: Price band set at ₹533-561 per share; check key dates, issue details, more
The floor price is 53.30 times the face value of the equity shares and the cap price is 56.10 times the face value of equity shares. The Mangal Electrical IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.
Mangal Electrical IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Mangal Electrical IPO basis of allotment of shares will be finalised on Monday, August 25 and the company will initiate refunds on Tuesday, August 26, while the shares will be credited to the demat account of allottees on the same day following refund. Mangal Electrical share price is likely to be listed on BSE and NSE on Thursday, August 28.
Mangal Electrical IPO consists of a completely fresh issue amounting to ₹ 400 crore. When priced at the top end of the price range, the company's market capitalization is projected to be about ₹ 1,550 crore.
The funds raised through this issue will be directed towards repaying debts, making capital investments—including construction work to expand Unit IV located in Reengus, Sikar District, Rajasthan, to maximize space and improve storage capabilities—and fulfilling working capital needs. As of June, the company had a total outstanding debt of ₹ 254.89 crore.
Systematix Corporate Services Ltd. serves as the lead manager for the book, while Bigshare Services Pvt. Ltd. is responsible for the issue's registry.
Mangal Electrical Industries focuses on producing components for transformers, which include laminations, CRGO slit coils, amorphous cores, assemblies of coils and cores, wound and toroidal cores, and oil-immersed circuit breakers.
The company also engages in the trading of CRGO and CRNO coils as well as amorphous ribbons, and it manufactures transformers along with tailored products for the power infrastructure sector, with transformer capacities that range from single-phase 5 KVA to three-phase 10 MVA units. Furthermore, the company provides EPC services for establishing electrical substations that support the power industry.
As per red herring prospectus (RHP), the company's listed peers are Vilash Transcore Ltd (with a P/E of 36.48), and Jay Bee Lamination Ltd (with a P/E of 18.28).
For the fiscal year 2025, the company reported a revenue of ₹ 549.42 crore, an increase from ₹ 449.48 crore the prior year, while net profit climbed to ₹ 47.30 crore, up from ₹ 20.94 crore.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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