Mangal Electrical IPO Last Day: Electric Component Maker's Public Issue Booked Oversubscribed Over 4 Times So Far

The bidding window for Mangal Electrical IPO (Mangal Electrical Industries Ltd) will close today on August 22. The electric component manufacturer's public issue has been oversubscribed 4 times so far since its bidding window opened on August 20.

Mangal Electrical IPO Subscription Update

Investors have placed bids for 22.84 million shares of Mangal Electrical IPO on the third day of bidding compared to the 5.25 million shares offered for subscription across categories.

The transformer manufacturer's issue has been booked more than 3.51 per cent in the retail individual investors category so far. Retail investors applied for over 9.22 million shares compared to the 2.62 million shares reserved for the category.

Non-Institutional Investors (NIIs) applied for over 11.45 million shares against the 1.12 million shares set aside for them. The company's issue was booked 10.18 times in the NII category. Qualified Institutional Buyers (QIBs) applied for 2.15 million shares of the transformer maker on the final day of bidding against the 1.5 million shares set aside for the category and booked the issue 1.44 times.

Mangal Electrical IPO GMP

According to Several websites which monitor the movement of unlisted shares on the grey market, the grey market premium for Mangal Electrical's unlisted shares ranges between Rs 23 and Rs 36 apiece. Given the GMP of Rs 36, the stock is likely to make a modest debut with a premium of over 6.41 per cent at Rs 597 per share.

Mangal Electrical IPO: Offer Size and Price Band

Mangal Electrical IPO is worth Rs 400 crore. Mangal Electrical IPO comprises a fresh issuance of 7.1 million shares. The price band for Mangal Electrical IPO was set at Rs 533 to Rs 561 per share.

Mangal Electrical IPO: Lot Size and Minimum Investment

Retail investors interested in applying for Mangal Electrical IPO can place bids for a minimum of 26 shares, which aggregates to an investment of Rs 14,586. The minimum lot size for Small Non-Institutional Investors (sNIIs) interested in applying for Mangal Electrical IPO is 14 lots or 364 shares amounting to an investment of Rs 204,204.

Mangal Electrical IPO: Subscription window, listing date, allotment date

Mangal Electrical IPO bidding window opened on August 20. Mangal Electrical IPO bidding window is scheduled to close on August 22. The basis of allotment of Mangal Electrical IPO will be decided on .

After the basis of allotment for Mangal Electrical IPO is decided the electric component maker will initiate refunds for unsuccessful applicants on August 26. Successful bidders will receive shares of Mangal Electrical in their demat accounts on August 26 as well. Mangal Electrical's shares will make their D-street debut on the NSE and BSE. Mangal Electrical Ltd stock is expected to list on the NSE and BSE next week on August 28.

Mangal Electrical Industries: Key financials

Mangal Electrical's total income for FY25 stood at Rs 551.39 crore, increasing by nearly 22 per cent from Rs 452.13 crore in FY24. The electric component maker's profit-after-tax surged by over 125 per cent to Rs 47.31 crore in FY25 compared to Rs 20.95 crore in the preceding fiscal. The transformer component manufacturer's net worth increased by over 41 per cent to Rs 162.16 crore in FY25 compared to Rs 114.99 crore in FY24.

Mangal Electrical IPO: Registrar

The book running lead manager for Mangal Electrical Industries Ltd. IPO is Systematix Corporate Services Ltd and the registrar is Bigshare Services Pvt Ltd.

Mangal Electrical: Promoters

Mangal Electrical Industries Ltd promoters include Rahul Mangal, Ashish Mangal, Saroj Mangal and Aniketa Mangal. The promoters of the company will reduce their stake to 74.19 per cent from 100 per cent.

Mangal Electrical IPO: Objective

Mangal Electrical Industries Ltd plans to use the funds raised via the public issue for paying off its loans, undertaking capital expenditure and funding working capital requirements along with the fulfillment of general corporate purposes.

About Mangal Electrical Ltd

Mangal Electrical Ltd was incorporated in 2008. The company is a maker of components that are used to manufacture electric transformers. The transformers are used for the transmission of electricity.