Mangal Electrical IPO Opens for Subscription: Price Band, Lot Size, Subscription Status, Allotment and Listing Dates
- 20th August 2025
- 11:30:00 AM
- 3 min read
Mumbai | August 20 – The ₹400 crore initial public offering (IPO) of Mangal Electrical Industries Ltd opened for subscription on Wednesday, August 20, 2025, according to details in its Red Herring Prospectus (RHP). The three-day issue will close on Friday, August 22.
Mangal Electrical IPO: Price Band and Structure
As per the RHP, the IPO is entirely a fresh issue of 0.71 crore shares, with no offer for sale (OFS) component. The company has set a price band of ₹533–₹561 per share. At the upper end, the minimum application size of one lot — 26 shares — requires a retail investment of ₹14,586.
The allocation structure reserves up to 50% of the offer for qualified institutional buyers (QIBs), not less than 35% for retail investors, and not less than 15% for non-institutional investors (NIIs).
Also Read: Regaal Resources IPO Lists at 38% Premium on NSE – Key Listing Highlights | PL Capital
Day 1 Subscription Status
As of 10:26 am on August 20:
- QIBs: No bids recorded
- NIIs: 3% subscribed
- Retail Investors: 6% subscribed
- Overall Subscription: 4%
Allotment and Listing Timeline
According to the RHP, the basis of allotment is expected to be finalised on August 25, 2025, while shares are likely to be credited to demat accounts by August 26. The listing on NSE and BSE is tentatively scheduled for August 27, 2025.
Use of Proceeds
The company stated in its RHP that the net proceeds will be utilised for:
- Repayment and prepayment of borrowings
- Capital expenditure for expansion of the Rajasthan manufacturing facility
- Meeting working capital requirements
- General corporate purposes
Anchor Book Performance
Ahead of the IPO opening, Mangal Electrical raised ₹120 crore from anchor investors on August 19. Participants included Abakkus Diversified Alpha Funds, Societe Generale, LC Pharos Multi Strategy Fund VCC, Sundaram Alternative Investment Trust, Aarth AIF Growth Fund, Imap India Capital Investment Trust, Swyom India Alpha Fund, Finavenue Capital Trust, and Sunrise Investment Trust.
Company Overview
Mangal Electrical Industries is engaged in manufacturing transformer components such as amorphous cores, laminations, coil and core assemblies, toroidal cores, wound cores, and oil-immersed circuit breakers. Its customer base includes Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd, and Western Electrotrans.
The IPO is being managed by Systematix Corporate Services, the sole book-running lead manager, with Bigshare Services Pvt Ltd acting as registrar.
Grey Market Premium (GMP)
According to market observers, the unlisted shares of Mangal Electrical Industries were trading at around ₹586 apiece in the grey market. This reflects a premium of ₹25, or 4.46%, over the IPO’s upper price band of ₹561.
👉 Investors can conveniently apply to the Mangal Electrical IPO via PL Capital’s e-IPO platform here for a seamless and transparent application process.
Disclaimer: This article is for informational purposes only and is not investment advice or a stock recommendation. PL Capital does not provide investment advice or stock tips. All details are based on publicly available information and market sources. Past subscription numbers, grey market premium, and listing performance do not guarantee future returns. Investors should consult certified financial advisors before making investment decisions.
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