Mangal Electrical IPO opens on August 20; check price band, issue size & more

Mangal Electrical Industries will launch its IPO from August 20 to August 22, with a price band of Rs 533–561 per share. The IPO aims to raise Rs 400 crore, with anchor bidding starting on August 19. Share allotment is scheduled for August 25, followed by refunds and credit of equity shares on August 26. The company's shares are expected to be listed on the exchanges by August 28.

The IPO's objectives include debt repayment, capital expenditure for expanding Unit IV at Reengus, Rajasthan, and funding working capital. As of June, the company's total outstanding debt was Rs 254.89 crore. Proceeds will also support civil works to optimize space and enhance storage capacity.

Mangal Electrical Industries manufactures transformer components like laminations, CRGO slit coils, and oil-immersed circuit breakers. It also provides EPC services for electrical substations. The company operates five production facilities in Rajasthan with significant annual installed capacity. The total order book as of June was Rs 294.20 crore.

For FY25, the company reported revenue of Rs 549.42 crore, up from Rs 449.48 crore the previous year, with net profit rising to Rs 47.30 crore from Rs 20.94 crore. Systematix Corporate Services Ltd. is the book running lead manager, while Bigshare Services Pvt. Ltd. is the registrar for the issue.

At the upper end of the price band, the company's market capitalization is estimated at around Rs 1,550 crore. The IPO will be closely watched by investors, given the company's solid track record and growth in recent years. Mangal Electrical Industries is strategically positioned in the transformer manufacturing and power infrastructure sectors, seeking to capitalize on increasing demand.

Investors and analysts will monitor the IPO's subscription status and grey market premium trends leading up to the listing date. The subscription opens on August 20 and closes on August 22, with the basis of allotment determined by August 25. Key dates for refunds, credit of shares, and listing will follow shortly thereafter.