IPO Details

Bidding Dates

20 Aug '25 - 22 Aug '25

Minimum Investment

₹14,586/ 1 Lot (26 Shares)

Price Range

₹533-₹561

Maximum Investment

₹1,89,618/ 13 Lots (338 Shares)

Retail Discount

To be announced

Issue Size

₹400.00 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

Mangal Electrical IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Aug 20, 25

IPO Closing Date

Aug 22, 25

Basis of Allotment

Aug 25, 25

Initiation of Refunds

Aug 26, 25

IPO Listing Date

Aug 28, 25

Mangal Electrical IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Aug 19, 2025

 0.13 0.73 0.71 0.55

About Mangal Electrical IPO

Mangal Electrical IPO is a book-built issue with a total size of ₹400.00 crore. The issue comprises a fresh issue of 0.71 crore equity shares, valued at ₹400.00 crore. The subscription for this IPO opens on August 20, 2025, and closes on August 22, 2025. The allotment of shares is expected to be finalised on August 25, 2025.

The IPO is proposed to list on both BSE and NSE, with the tentative listing date scheduled for August 28, 2025. The price band for Mangal Electrical IPO has been fixed between ₹533.00 to ₹561.00 per share. The lot size for retail investors is 26 shares, requiring a minimum investment of ₹13,858.

For small non-institutional investors (sNII), the application size is 14 lots, or 364 shares, amounting to ₹2,04,204. For big non-institutional investors (bNII), the lot size is 69 lots, or 1,794 shares, amounting to ₹10,06,434.

Systematix Corporate Services Limited is acting as the book-running lead manager for this issue, while Bigshare Services Private Limited has been appointed as the registrar. Investors may refer to the RHP for detailed information.

Industry Outlook

  1. India’s per capita electricity consumption has increased from 1,181 kilowatt-hours (kWh) in FY2019 to 1,395 kWh in FY2024, growing at 3.4% CAGR, reflecting the rising need for reliable electricity access.
  2. The country’s installed electricity generation capacity expanded from 356 gigawatts (GW) in FY2019 to 443 GW in FY2024, at a 4.5% CAGR, highlighting steady growth across renewable and conventional power sources.
  3. Electricity generation in India rose from 1,376 billion units (BU) in FY2019 to 1,739 BU in FY2024, at 5.5% CAGR, and is expected to touch 1,900 BU by FY2025, showing strong sector expansion.

Mangal Electrical IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The company plans to utilise funds for repayment or prepayment of certain outstanding borrowings to reduce debt burden.
  2. Capital expenditure for expansion of Unit IV at Reengus and civil works at the Jaipur head office to optimise space and enhance storage capacity.
  3. Funding the company’s working capital requirements to support business operations.
  4. General corporate purposes to strengthen overall growth and future opportunities.

About Mangal Electrical Industries Limited

Mangal Electrical Industries Limited is engaged in the processing and manufacturing of transformer components and power infrastructure products. The company deals in transformer laminations, Cold Rolled Grain Oriented (CRGO) slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, as well as oil-immersed circuit breakers.

It also trades in Cold Rolled Grain Oriented (CRGO) coils, Cold Rolled Non-Oriented (CRNO) coils, along with amorphous ribbons. In addition, the company manufactures transformers ranging from single-phase 5 KVA units to three-phase 10 MVA medium-power units and offers EPC services for electrical sub-station projects.

The company operates five production facilities in Rajasthan with an annual capacity of 16,200 MT for CRGO, 7,50,000 KVA for transformers, 75,000 units for circuit breakers, and 2,400 MT for amorphous units. Plans are in place to expand the Unit IV facility to meet growing demand.

Mangal Electrical Industries Limited holds approvals from NABL and PGCIL, ensuring high-quality standards, and is ISO 9001:2015 and ISO 14001:2015 certified. Approvals for CRGO processing have also been obtained from NTPC. The use of advanced German technology, such as Brockhaus Messtechnik machinery, further supports efficient production and quality control.

The company serves a diverse customer base that includes government utilities like Ajmer Vidyut Vitran Nigam Limited and Jaipur Vidyut Vitran Nigam Limited, as well as private players such as Voltamp Transformers Limited.

Its products are also exported to countries including the Netherlands, UAE, Oman, and the USA. With a strong brand presence under the name “Mangal Electrical,” the company reported an order book of ₹9,787.10 lakh as of November 30, 2024.

How To Check the Allotment Status of Mangal Electrical IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Mangal Electrical IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Mangal Electrical IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Mangal Electrical IPO

Registered office: C-61, C-61 (A&B),Road No. 1-C,V. K. I. Area, Jaipur 302 013, Rajasthan,India

Phone: +91141-4036113

E-mail: compliance@mangals.com

Mangal Electrical IPO Reservation

Investor Category

Shares Offered

QIB Shares

Not more than 50.00% of the Net Issue

Retail Shares

Not less than 35.00% of the Net Issue

NII Shares

Not less than 15.00% of the Net Issue

Mangal Electrical IPO Lot Size Details

Application

Lots

Shares

Amount

Retail (Min)

1

26

₹14,586

Retail (Max)

13

338

₹1,89,618

S-HNI (Min)

14

364

₹2,04,204

S-HNI (Max)

68

1,768

₹9,91,848

B-HNI (Min)

69

1,794

₹10,06,434

Mangal Electrical IPO Promoter Holding

The promoters of the company include Rahul Mangal, Ashish Mangal, Saroj Mangal and Aniketa Mangal.

Share Holding Pre-Issue

100.00%

Share Holding Post Issue&nbsp

74.19%

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for Mangal Electrical IPO

KPI

Value

ROE (%)

29

RoCE (%)

25.38

Debt/Equity&nbsp

0.92

PAT Margin (%)

8.61

EBITDA Margin (%)

14.90

Mangal Electrical IPO Prospectus

Mangal Electrical IPO Registrar and Lead Managers

Mangal Electrical IPO Lead Managers

  • Systematix Corporate Services Limited

Registrar for Mangal Electrical IPO

Bigshare Services Private Limited

Mangal Electrical IPO Registrar

Financial Performance of Mangal Electrical Industries Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 44,948.45 35,430.88 25,664.75
Profit/loss After Tax (in ₹ lakh) 2,094.86 2,473.81 919.52
Earnings per Equity Share (₹) 10.22 12.07 4.49
Net Worth (in ₹ lakh) 11,498.76 9,397.16 6,921.55
Return on Equity (%) 20.05 30.32 14.25
Return on capital employed (RoCE) (%) 19.92 23.24 13.40
EBITDA (in ₹ lakh) 4,262.50 4,442.47 2,568.10

Know before investing

Strengths

8

  1. Promoters bring 35+ years’ industry experience, driving vision and sustained business growth.

  2. NABL-certified Unit IV with PGCIL approval for up to 400 kV class.

  3. Diversified customer base across India and exports to USA, UAE, Oman, Netherlands.

  4. Strong backward and forward integration ensures cost control and operational efficiency.

  5. Proven track record of consistent revenue growth and profitability since inception.

  6. Expansion of Unit IV manufacturing capacity to boost output and efficiency.

  7. Strategic focus on qualifying for 765 kV PGCIL class approval.

  8. Order book stood at ₹9,787.10 lakh as on November 30, 2024.

Risks

8

  1. Rising raw material costs like steel, copper, aluminum impact margins.

  2. Transformer revenue formed 17.11%–26.73% of income; demand slowdown might reduce profitability.

  3. Five Rajasthan-based facilities risk shutdowns from breakdowns, disasters, or disruptions.

  4. Lack of long-term supply contracts increases dependence on volatile purchase orders.

  5. Counterfeit products imitating brand identity could damage goodwill and customer trust.

  6. Strong competition in CRGO and transformers may affect market share.

  7. Dependence on third-party suppliers for raw materials may disrupt the supply chain.

  8. Exports worth ₹1,280.99–₹5,509.44 lakh expose the company to forex risks.

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Mangal Electrical Industries Limited Peer Comparison

Company Name Face Value (₹) P/E RoNW (%) Total Income (₹ in lakhs)
Mangal Electrical Industries Limited 10 [●] 20.05 45,213.23
Vilash Transcore Limited 10 38.99 15.57 31,394.77
Jay Bee Lamination LImited 10 35.26 36.42 30,349.56

Mangal Electrical IPO FAQs

What is the Mangal Electrical IPO?

Mangal Electrical IPO is a book-built issue IPO. It runs from August 20, 2025, to August 22, 2025. 

When will the Mangal Electrical IPO be allotted?

The Basis of Allotment will happen on Monday, August 25, 2025.

When will the Mangal Electrical IPO open for subscription?

The IPO subscription window will open on August 20, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 26 shares.

When will the Mangal Electrical IPO list on exchanges?

The listing date for Mangal Electrical IPO is Thursday, August 28, 2025. 

What is the issue size of the Mangal Electrical IPO?

The issue size of the Mangal Electrical IPO is ₹400.00 crore.

What are the open and close dates of the Mangal Electrical IPO?

The open and close dates for Mangal Electrical IPO are from August 20, 2025, to August 22, 2025.

What would be the listing gains on the Mangal Electrical IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. 

When will I know if my Mangal Electrical IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts. 

Who is the registrar of Mangal Electrical IPO?

Bigshare Services Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Mangal Electrical IPO getting listed?

The Mangal Electrical IPO is proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 

How to increase your chances of getting a Mangal Electrical IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Mangal Electrical IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Mangal Electrical IPO using one PAN?

You can submit only one application using your PAN card. 

How to read Mangal Electrical Industries Limited's financial statements?

To read Mangal Electrical Industries Limited’s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for the Mangal Electrical IPO?

Pre-apply allows investors to apply for the Mangal Electrical IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Mangal Electrical IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.