Summary of this article
Mangal Electrical IPO subscribed 23% on Day 1 so far
IPO issue size Rs 400 crore, price band fixed at Rs 533–561
Allotment of shares on August 25, Listing on August 28
Revenue growth 15.51% CAGR From FY23 to FY25, PAT grew at 24.12% CAGR
The initial public offering (IPO) of Mangal Electrical Industries opened for public subscription on August 20, 2025. It will remain open till August 22, 2025. On the first day of bidding, the Mangal Electrical IPO received bids for 12,05,360 shares against 5.25 million shares on offer, as of 1:12 PM.
This translates to 0.23 times or 23 per cent subscription.
The non-institutional investor's (NII) category saw 0.20 times subscription, while the retail investors' category witnessed 0.37 times. The qualified institutional buyers' (QIB) witnessed nearly zero bidding so far.
Mangal Electrical IPO Details
Issue Size: Rs 400 crore, entirely fresh issue of 71,30,124 shares
Price Band: Rs 533 to Rs 561 per share
Lot Size: 26 shares and in multiples thereof
Minimum Investment: Rs 13,858 per lot for retail investors
Allotment Date: August 25, 2025
Initiation of Refunds: August 26, 2025
Listing Date: August 28, 2025, on NSE, BSE
Book Running Lead Manager: Systematix Corporate Services
Registrar: Bigshare Services
Mangal Electrical IPO GMP Today, Expected Listing Price
The Mangal Electrical IPO is commanding a grey market premium (GMP) of Rs 30 per share, according to several websites that track GMP of unlisted shares of IPO-bound companies.
At the issue's upper band price, the GMP signals a potential listing price of Rs 591 per share, a premium of 5.35 per cent.
Mangal Electrical Financial Performance
Mangal Electrical reported a revenue of Rs 551.39 crore in FY25, growing at a compounded annual growth rate (CAGR) of 15.51 crore from Rs 357.81 crore in FY23.
Its profit after tax (PAT) came in at Rs 47.31 crore in FY25, growing at a CAGR of 24.12 per cent from Rs 24.74 crore in FY23.
Assets stood at Rs 366.46 crore by the end of FY25. It was Rs 246.54 crore in FY24 and Rs 221.26 crore in FY23. Net worth increased to Rs 162.16 crore, from Rs 114.99 crore in FY24 and Rs 93.97 crore in FY23.
Meanwhile, the company's debt levels too increased to Rs 149.12 crore, as of FY25, from Rs 92.12 in FY24 and Rs 96.64 crore in FY23.
About Mangal Electrical Industries
Mangal Electrical Industries, incorporated in 2008, makes transformers and related components used in power transmission and distribution. As per the red herring prospectus, the company also trades in CRGO, CRNO coils and provides Engineering, Procurement, and Construction (EPC) services for substations.
The company has five plants in Rajasthan with an annual capacity of over 10 lakh KVA of transformers, along with facilities for CRGO processing, circuit breakers and amorphous units.
