Mangal Electrical Industries IPO Itemizing: Mangal Electrical Industries shares made a muted debut on the bourses on Thursday, August 28, itemizing at ₹556 on NSE, a reduction of 0.89 per cent to its subject value of ₹561. In the meantime, on BSE, it listed at ₹558, down half a p.c from IPO value.
The Mangal Electrical Industries IPO acquired strong investor demand, closing with an general subscription of 9.95 occasions. The problem noticed 4.96 crore bids in opposition to 49.91 lakh shares on supply. Breaking down the subscription by investor classes, the retail quota was oversubscribed 5.09 occasions, the non-institutional buyers (NIIs) phase drew a heavy response at 19.78 occasions, whereas the certified institutional consumers (QIBs) portion was totally subscribed at 11.09 occasions.
IPO Particulars
The ₹400-crore public subject of Mangal Electrical Industries was fully a contemporary subject comprising 0.71 crore fairness shares price ₹400.00 crore.
In response to the corporate, the web proceeds from the providing might be utilised for a number of goals, together with reimbursement or prepayment, both partly or full, of sure present borrowings. Part of the funds may even be directed in the direction of capital expenditure, together with civil works, to help the enlargement of its Unit IV manufacturing facility at Reengus within the Sikar district of Rajasthan. Moreover, proceeds will go in the direction of assembly working capital necessities and for different basic company functions.
The IPO had a value band mounted between ₹533 and ₹561, with a minimal lot dimension utility of 26 fairness shares. For retail buyers, this translated right into a minimal funding of ₹13,858 (for 26 shares).
Systematix Company Companies Ltd acted because the book-running lead supervisor of the problem, whereas Bigshare Companies Pvt. Ltd was appointed because the registrar.
Concerning the Firm
Mangal Electrical Industries Ltd, initially included in 2008 and later transformed right into a public restricted firm in 2024, is headquartered in Jaipur. The corporate is engaged within the manufacturing of transformer elements, full transformers, and EPC substation options.
Its product portfolio consists of laminations, CRGO slit coils, amorphous, wound and toroidal cores, coil-core assemblies, and oil-immersed circuit breakers. Alongside its manufacturing actions, the corporate additionally gives turnkey EPC providers for electrical substations.
On the monetary entrance, the corporate reported regular development lately. Income rose from ₹315.80 crore in FY23 to ₹551.39 crore in FY25, whereas revenue after tax (PAT) elevated from ₹17.55 crore to ₹47.31 crore over the identical interval.
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