The initial public offer of Mangal Electrical Industries received bids for 4,96,74,638 shares as against 52,53,301 shares on offer. The issue was subscribed 9.46 times.
The Non-Institutional Investors (NIIs) category was subscribed 18.79 times. The Qualified Institutional Buyers (QIBs) category was subscribed 10.54 times. The Retail Individual Investors (RIIs) category was subscribed 4.84 times.
The issue opened for bidding on 20 August 2025 and it closed on 22 August 2025. The price band of the IPO is fixed between Rs 533 and 561 per share.
The IPO comprised entirely of a fresh issue of equity shares, aggregating to Rs 400 crore.
Of the net proceeds from the fresh issue, about Rs 87.8563 crore was used to meet capital expenditure, including civil works of Unit IV expansion at Reengus (Sikar District, Rajasthan); Rs 101.2665 crore for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company; Rs 122 crore for funding working capital requirements of the company and balance for general corporate purposes.
Mangal Electrical Industries, promoted by Rahul Mangal, specializes in processing transformer components, including transformer laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. Additionally, it manufactures transformers and customized products for the power infrastructure industry.
The order book (for all the business segments) as end of June 30, 2025, stood at Rs 294.1978 crore.
Ahead of the IPO, Mangal Electrical Industries on 19 August 2025 raised Rs 119.99 crore from anchor investors. The board allotted 21.39 lakh shares at Rs 561 each to 10 anchor investors.
The firm reported a consolidated net profit of Rs 47.31 crore and total income of Rs 549.42 crore for the twelve months ended on 31 March 2025.