Latest news with #MangalElectricalIndustries
News18
5 days ago
- Business
- News18
Mangal Electrical Industries Rs 400 cr IPO to open on Aug 20
Agency: New Delhi, Aug 14 (PTI) Transformer components manufacturer Mangal Electrical Industries on Thursday fixed a price band of Rs 533 to Rs 561 per share for its upcoming Rs 400 crore Initial Public Offering (IPO). The IPO — entirely a fresh issue of shares — will open for public subscription on August 20 and conclude on August 22, the company announced. Proceeds from the fresh will be used to pay debt, expand the company's facility situated in Rajasthan, and support working capital requirements for general corporate purposes. Mangal Electrical Industries is a processor of transformer components, transformer lamination, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers. Systematix Corporate Services is the sole book-running lead manager, and Bigshare Services is the registrar of the issue. PTI SP SP DR DR view comments First Published: August 14, 2025, 14:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
10-06-2025
- Business
- Mint
Upcoming IPOs: Vidya Wires, Mangal Electrical Industries get SEBI nod for public issue
Upcoming IPOs: Winding and conductivity products manufacturer Vidya Wires and Jaipur-based Mangal Electrical Industries have received approval from markets regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO). Vidya Wires IPO comprises of a fresh issue of equity shares aggregating up to ₹ 320 crores by company and an offer for sale aggregating up to 1,00,00,000 equity shares by the promoter selling shareholders with face value of ₹ 1 each equity share. The company intends to use the net proceeds to finance capital expenditures for establishing a new project through its subsidiary, Alcu, to repay or prepay, either fully or partially, specific outstanding borrowings, and to support general corporate activities. Shyamsundar Rathi, Shailesh Rathi and Shilpa Rathi are the promoters of the company. Pantomath Capital Advisors Private Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers to the issue. The equity shares of the Company are proposed to be listed on both BSE and NSE. Jaipur-based Mangal Electrical Industries with a face value of ₹ 10 per share, is a completely fresh issue amounting to ₹ 450 crore, with no shares being offered for sale by existing shareholders. The company had filed its IPO papers with SEBI on December 24 last year. The funds raised from the fresh issue will be utilized as follows: up to ₹ 96.03 crore will be used to repay or prepay, either fully or partially, certain outstanding borrowings of the Company; ₹ 120 crore will be allocated towards capital expenditure for expanding the facility at Unit IV in Reengus, Sikar District, Rajasthan, as well as for civil work at the existing head office in Jaipur to improve space utilization and increase storage capacity; ₹ 122 crore will be used to meet the Company's working capital needs; and the remaining amount will be allocated for general corporate purposes. Systematix Corporate Services Limited is the sole book-running lead manager and Bigshare Services Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
