Mangal Electrical IPO will open for subscription on August 20, 2025, and close on August 22, 2025. Mangal Electrical Industries Limited, incorporated in 2008, is engaged in manufacturing transformers that are used for the distribution and transmission of electricity in the power sector.
The company operates across three main areas: transformer manufacturing, trading of core materials, and EPC services for electrical substations.
This IPO update will be followed by details on the issue size, price band, financial performance, and Mangal Electrical’s risk factors.
Mangal Electrical IPO Date
The key pointers for the Mangal Electrical IPO dates are:
- Bidding Opening Date: August 20, 2025
- Bidding Closing Date: August 22, 2025
- Allotment Date: August 25, 2025
- Initiation of Refunds (in case of less or no allotment): August 26, 2025
- Shares Credited to Your Demat Account: August 26, 2025
- IPO Listing Date: August 28, 2025
- Listing on Exchange: BSE and NSE
Mangal Electrical IPO Issue Size
Mangal Electrical IPO valuation, as denoted by the market capitalisation, stood at ₹1,550.05 crores. Here are the important details:
- Mangal Electrical IPO Price Band: ₹533 to ₹561 per share
- Lot Size: 26 Shares
- Total Issue Size and Amount: 71,30,124 shares (aggregating up to ₹400 Crores)
- Fresh Issue Size and Amount: 71,30,124 shares (aggregating up to ₹400 Crores)
Mangal Electrical IPO Proceeds Usage
The net proceeds from the Mangal Electrical IPO are proposed to be utilised for the following purposes:
- Repayment or prepayment of borrowings – Part or full repayment of certain outstanding loans taken by the company (₹101.27 crores).
- Capital expenditure for expansion – Investment in civil works and related expenses to expand the facility at Unit IV, Reengus, Sikar District, Rajasthan (₹87.86 crores).
- Funding working capital needs – Allocation of funds to meet the company’s working capital requirements (₹122 crores).
- General corporate purposes – Utilisation of funds for other strategic and operational needs of the business.
Mangal Electrical IPO Reservations
Mangal Electrical IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Issue
- For NIIs: Not less than 15% of the Net Issue
- For Retail Investors: Not less than 35% of the Net Issue
Mangal Electrical IPO Lot Size
Mangal Electrical IPO lot size is 26 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| 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 Details: Promoter Holding
Rahul Mangal, Ashish Mangal, Saroj Mangal, and Aniketa Mangal are the promoters of the company.
Mangal Electrical IPO: Company Overview
Incorporated in 2008, Mangal Electrical Industries Limited is a transformer manufacturer catering to the power sector, with products used in electricity distribution and transmission.
The company produces a wide range of transformer components such as laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers. Its products are sold under the brand name “Mangal Electrical,” which enjoys strong recognition and trust in the market.
Along with manufacturing, the company also trades in CRGO and CRNO coils and amorphous ribbons. It manufactures transformers ranging from 5 KVA to 10 MVA and provides EPC services for setting up electrical substations, thereby offering complete solutions to the power infrastructure sector.
Mangal Electrical runs five production facilities in Rajasthan, equipped with an annual capacity of 16,200 MT for CRGO, 10,22,500 KVA for transformers, 75,000 units of oil-immersed circuit breakers, and 2,400 MT for amorphous units.
Product Portfolio
The company’s product portfolio covers critical components for various types of transformers, including small, distribution, and large units.
These products contribute to energy-efficient equipment and include CRGO wide coils with high magnetic permeability for large transformers, precision CRGO slit coils for core construction, and CRGO core assemblies designed to reduce energy loss and enhance operational efficiency.
Key Strengths
As of June 30, 2025, the company employed 761 permanent staff across its registered office, corporate office, and all production units.
Its strengths include strong promoter leadership supported by an experienced management team, key approvals that are available only to selected market players, a diversified customer base, and well-integrated operations that enhance efficiency. The company also has a consistent track record of growth, strengthening its position in the industry.
Mangal Electrical IPO: Financial Performance
Mangal Electrical Industries Ltd.’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Total Income | 551.39 | 452.13 | +22% |
| Profit After Tax | 47.31 | 20.95 | +126% |
| EBITDA | 81.84 | 42.63 | +92% |
| Net Worth | 162.16 | 114.99 | +41% |
| Total Borrowings | 149.12 | 92.12 | +62% |
| Total Assets | 366.46 | 246.54 | +49% |
- Mangal Electrical recorded a 22% increase in total income, moving from ₹452.13 crore in FY24 to ₹551.39 crore in FY25, driven by strong demand in the power infrastructure sector.
- Profit after tax rose sharply by 126%, from ₹20.95 crore in FY24 to ₹47.31 crore in FY25, reflecting better margins and operating efficiencies.
- EBITDA grew by 92%, reaching ₹81.84 crore in FY25 compared to ₹42.63 crore in FY24, signaling improved profitability in core operations.
- Net worth improved by 41%, standing at ₹162.16 crore in FY25 against ₹114.99 crore in FY24, highlighting stronger financial health.
- Borrowings increased by 62%, from ₹92.12 crore in FY24 to ₹149.12 crore in FY25, showing higher debt utilization for expansion and working capital.
- Total assets expanded by 49%, climbing to ₹366.46 crore in FY25 from ₹246.54 crore in FY24, underlining continued investment in production facilities.
Mangal Electrical IPO Peer Comparison
Here is the competitor analysis of Mangal Electrical Industries Ltd:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Mangal Electrical Industries Ltd. | 23.08 | 24.31 | 34.14 |
| Vilash Transcore Limited | 14.58 | 36.48 | 15.27 |
| Jay Bee Laminations Limited | 12.31 | 18.28 | 24.11 |
- EPS: With an EPS of ₹23.08, Mangal Electrical has the highest EPS in the industry, surpassing both its key peers, Vilash Transcore and Jay Bee Laminations.
- P/E Ratio: At a P/E of 24.31x, Mangal Electrical is valued more attractively than Vilash Transcore at 36.48x. It is also slightly higher than Jay Bee Laminations, which has a P/E of 18.28x. This suggests moderate pricing.
- RoNW: Mangal Electrical has the highest return on net worth (RoNW) of 34.14%, highlighting superior return efficiency for investors.
Mangal Electrical IPO Risk Factors
Mangal Electrical Industries Ltd. is exposed to various risk factors that can eventually affect its business and investors’ perception:
- The prices of key raw materials used in manufacturing are prone to fluctuations influenced by external factors. Any significant increase or volatility in these costs may adversely affect the company’s operations, financial performance, and cash flows.
- The company does not have long-term supply agreements with either its customers or suppliers. Any disruption or inability to maintain these business relationships could impact its financial condition and future growth.
- The risk of counterfeit products being sold under the company’s name, along with challenges in protecting and enforcing its trademarks and brand rights, could weaken its market position and harm its business.
For all the insights on Gem Aromatics IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Mangal Electrical IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When does the Mangal Electrical IPO open and close for subscription?
The Mangal Electrical IPO opens on August 20, 2025, and closes on August 22, 2025. The allotment will be finalised on August 25, 2025, and the shares are expected to list on August 28, 2025 on both the BSE and NSE.
2. What is the price band and lot size for the Mangal Electrical IPO?
The IPO price band is set between ₹533 to ₹561 per share. The lot size is 26 shares, and for retail investors, the minimum investment amount is ₹14,586.
3. How much is the Mangal Electrical IPO issue size?
The issue size of the IPO is 71 lakh shares, aggregating up to ₹400 crores. The company’s market capitalisation at the IPO price is estimated at ₹1,550.05 crores.
4. What will the IPO proceeds be used for?
The net proceeds from the issue will be used for:
- Repayment or prepayment of certain borrowings (₹101.27 crore).
- Capital expenditure for expansion at Unit IV, Reengus, Rajasthan (₹87.86 crore).
- Funding working capital requirements (₹122.00 crore).
- General corporate purposes.
Reference:
https://mangals.com/investor-relations/investor-relations-files/rhp/Project%20Spark%20-%20RHP.pdf
