Latest news with #MangalElectricalIPO
Economic Times
21 hours ago
- Business
- Economic Times
Mangal Electrical IPO subscribed 2% on Day 1 so far; GMP 4%. Should you subscribe?
Mangal Electrical IPO: The Grey Market Premium (GMP) for Mangal Electrical's IPO stands at ₹25 over the upper price band of ₹561. This indicates the extra amount investors are ready to pay in the unofficial market ahead of the listing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mangal Electrical IPO Anchor Investors Mangal Electrical IPO Issue Details Tired of too many ads? Remove Ads Should you subscribe? The recently launched Rs 400 crore IPO of Mangal Electrical Industries was subscribed 2% on Wednesday so far, the first day of Grey Market Premium (GMP) for the IPO stands at a modest 4.4% above the issue price band of Rs 561. The subscription window will remain open until August Grey Market Premium (GMP) for the Mangal Electrical IPO is currently Rs 25 above the upper price band of Rs 561. The GMP reflects the premium investors are willing to pay for shares in the unofficial market before the IPO listing. Based on this premium, the estimated listing price is expected to be around Rs 586, which represents a relatively modest gain of approximately 4.46% over the issue price. This suggests moderate investor enthusiasm for the stock at of 10:10 am on the first day of bidding, the Mangal Electrical IPO achieved a 2% overall subscription. Breaking this down, the retail investor segment showed relatively stronger interest with a 3% subscription rate, while the non-institutional investor (NII) category had subscribed to just 1% of the issue. So far, no bids have been received from qualified institutional buyers (QIBs), indicating limited participation from this segment early in the subscription components manufacturer Mangal Electrical Industries raised Rs 120 crore from anchor investors on Tuesday, just a day before its initial public offering (IPO) opened for public anchor investors participating in this round included Abakkus Diversified Alpha Funds, LC Pharos Multi Strategy Fund VCC, Societe Generale, Finavenue Capital Trust , Swyom India Alpha Fund, Sundaram Alternative Investment Trust, Imap India Capital Investment Trust, Sunrise Investment Trust, and Aarth AIF Growth Fund, according to a circular posted on the BSE company allotted 21.39 lakh equity shares to these institutional investors at the upper price band of Rs 561 per share, resulting in total anchor investor fundraising of Rs 120 IPO, comprising a fresh issue of shares worth Rs 400 crore, is scheduled to open for public subscription on August 20 and will close on August 22. The price band has been set between Rs 533 and Rs 561 per from the fresh issue are intended to be utilized for repaying debt, expanding the company's manufacturing facility in Rajasthan, and meeting working capital requirements and other general corporate Electrical Industries specializes in manufacturing transformer components, including transformer laminations, amorphous cores, coil assemblies, core assemblies, wound cores, toroidal cores, and oil-immersed circuit clientele includes government power distribution companies as well as private firms such as Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd , and Western Electrotrans. The company also exports transformer components to countries including the Netherlands and the United Arab Emirates. Systematix Corporate Services is appointed as the sole book-running lead manager for the issue, while Bigshare Services serves as the to Anand Rathi's research report, at the upper price band, the company is valued at a FY25 price-to-earnings (P/E) ratio of 32.8x, with a post-issue market capitalization of Rs 15,500 million. In recent years, India's substation capacity has expanded significantly due to increasing electricity demand. This growth has created a favorable environment for transformer manufacturing, characterized by steady demand that supports effective production planning and operational efficiency. Considering these factors, the IPO is viewed as fully priced, and Anand Rathi recommends a 'SUBSCRIBE – LONG TERM' rating.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
a day ago
- Business
- Time of India
Mangal Electrical IPO subscribed 2% on Day 1 so far; GMP 4%. Should you subscribe?
Mangal Electrical IPO GMP Today: Mangal Electrical IPO Subscription Status: Live Events Mangal Electrical IPO Anchor Investors Mangal Electrical IPO Issue Details Should you subscribe? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The recently launched Rs 400 crore IPO of Mangal Electrical Industries was subscribed 2% on Wednesday so far, the first day of Grey Market Premium (GMP) for the IPO stands at a modest 4.4% above the issue price band of Rs 561. The subscription window will remain open until August Grey Market Premium (GMP) for the Mangal Electrical IPO is currently Rs 25 above the upper price band of Rs 561. The GMP reflects the premium investors are willing to pay for shares in the unofficial market before the IPO listing. Based on this premium, the estimated listing price is expected to be around Rs 586, which represents a relatively modest gain of approximately 4.46% over the issue price. This suggests moderate investor enthusiasm for the stock at of 10:10 am on the first day of bidding, the Mangal Electrical IPO achieved a 2% overall subscription. Breaking this down, the retail investor segment showed relatively stronger interest with a 3% subscription rate, while the non-institutional investor (NII) category had subscribed to just 1% of the issue. So far, no bids have been received from qualified institutional buyers (QIBs), indicating limited participation from this segment early in the subscription components manufacturer Mangal Electrical Industries raised Rs 120 crore from anchor investors on Tuesday, just a day before its initial public offering (IPO) opened for public anchor investors participating in this round included Abakkus Diversified Alpha Funds, LC Pharos Multi Strategy Fund VCC, Societe Generale, Finavenue Capital Trust , Swyom India Alpha Fund, Sundaram Alternative Investment Trust, Imap India Capital Investment Trust, Sunrise Investment Trust, and Aarth AIF Growth Fund, according to a circular posted on the BSE company allotted 21.39 lakh equity shares to these institutional investors at the upper price band of Rs 561 per share, resulting in total anchor investor fundraising of Rs 120 IPO, comprising a fresh issue of shares worth Rs 400 crore, is scheduled to open for public subscription on August 20 and will close on August 22. The price band has been set between Rs 533 and Rs 561 per from the fresh issue are intended to be utilized for repaying debt, expanding the company's manufacturing facility in Rajasthan, and meeting working capital requirements and other general corporate Electrical Industries specializes in manufacturing transformer components, including transformer laminations, amorphous cores, coil assemblies, core assemblies, wound cores, toroidal cores, and oil-immersed circuit clientele includes government power distribution companies as well as private firms such as Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd , and Western Electrotrans. The company also exports transformer components to countries including the Netherlands and the United Arab Emirates. Systematix Corporate Services is appointed as the sole book-running lead manager for the issue, while Bigshare Services serves as the to Anand Rathi's research report, at the upper price band, the company is valued at a FY25 price-to-earnings (P/E) ratio of 32.8x, with a post-issue market capitalization of Rs 15,500 million. In recent years, India's substation capacity has expanded significantly due to increasing electricity demand. This growth has created a favorable environment for transformer manufacturing, characterized by steady demand that supports effective production planning and operational efficiency. Considering these factors, the IPO is viewed as fully priced, and Anand Rathi recommends a 'SUBSCRIBE – LONG TERM' rating.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
7 days ago
- Business
- Mint
Mangal Electrical IPO: Price band set at ₹533-561 per share; check key dates, issue details, more
Mangal Electrical IPO price band has been fixed in the range of ₹ 533 to ₹ 561 per equity share of the face value of ₹ 10. The Mangal Electrical IPO date of subscription is scheduled for Wednesday, August 20 and will close on Friday, August 22. The allocation to anchor investors for the Mangal Electrical IPO is scheduled to take place on Tuesday, August 19. 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.
Mint
7 days ago
- Business
- Mint
Mangal Electrical IPO: Price band set at ₹533-561 per share; check key dates, issue details, more
Mangal Electrical IPO price band has been fixed in the range of ₹ 533 to ₹ 561 per equity share of the face value of ₹ 10. The Mangal Electrical IPO date of subscription is scheduled for Wednesday, August 20 and will close on Friday, August 22. The allocation to anchor investors for the Mangal Electrical IPO is scheduled to take place on Tuesday, August 19. 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.
