Mangal Electrical Industries IPO 2025 – Key Details & Investor Insights
Mangal Electrical Industries Ltd, a leading transformer and core manufacturer, is coming with its IPO. Here’s everything about its GMP, dates, price band, and growth outlook.
Mangal Electrical Industries Ltd – Company Background
Mangal Electrical Industries Ltd is engaged in the manufacture of transformers used by the power sector in the distribution and transmission of electricity. It also makes transformer components including Lamination, CRGO Slit Coils, Amorphous Cores, Toroidal Cores etc. It markets its product under the brand of “Mangal Electrical.” The company operates five manufacturing facilities out of the state of Rajasthan.
The fresh funds will be used for funding the capex at its Sikar Plant, repayment of loans, as well as for funding working capital. Mangal Electrical Industries Ltd was promoted by Rahul Mangal, Ashish Mangal, Saroj Mangal, and Aniketa Mangal. The IPO will be lead managed by Systematix Corporate Services Ltd; while Bigshare Services Private Ltd will be the IPO registrar. The company is headquartered at Jaipur in Rajasthan.
Highlights Of The IPO Issue
Here are the key highlights of the public issue of Mangal Electrical Industries Ltd.
- The IPO of will be open from August 20th, 2025 to August 22nd, 2025. It has a face value of ₹10 per share and IPO price band is set in range of ₹533 to ₹561 per share.
- The IPO of Mangal Electrical Industries Ltd will be entirely a fresh issue of shares with no offer for sale (OFS) component.
- The fresh portion of the IPO comprises the issue of 71,30,124 shares (71.30 lakh shares), which at the upper price band of ₹561 per share translates into ₹400.00 crore.
- As there is no OFS, the overall IPO will comprise the fresh issue of 71,30,124 shares (71.30 lakh shares) worth ₹400.00 crore at the upper band price of ₹561 per share.
The IPO of Mangal Electrical Industries Ltd will be listed on the NSE and the BSE on the IPO mainboard.
Key Dates, Investor Allocation, And Lot Sizes
Here are the key dates pertaining to the IPO of Mangal Electrical Industries Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | 20th August 2025 |
| IPO Close Date | 22nd August 2025 |
| Basis of Allotment | 25th August 2025 |
| Initiation of Refunds to non-allottees | 26th August 2025 |
| Credit of Shares to Demat | 26th August 2025 |
| Listing Date on NSE and BSE | 28th August 2025 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Category of Investors | Allocation of shares | % Share |
|---|---|---|
| Reservation for Employees | Nil Reservation | Nil Reservation |
| Anchor Allocation | 21,39,020 shares | 28.94% of total IPO size |
| QIB Shares Offered | 15,00,955 shares | 20.30% of total IPO size |
| NII (HNI) Shares Offered | 11,25,704 shares | 15.23% of total IPO size |
| Retail Shares Offered | 26,26,642 shares | 35.53% of total IPO size |
| Total Shares Offered | 73,92,321 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Mangal Electrical Industries Ltd for various categories of investors.
| 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 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 26 shares)
Financial Highlights Of Mangal Electrical Industries Ltd
The table captures the key financials of Mangal Electrical Industries Ltd for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 549.42 | 449.48 | 354.31 |
| Sales Growth (%) | 22.23% | 26.86% | |
| Profit after Tax (₹ in crore) | 47.31 | 20.95 | 24.74 |
| PAT Margins (%) | 8.61% | 4.66% | 6.98% |
| Total Equity (₹ in crore) | 162.16 | 114.99 | 93.97 |
| Total Assets (₹ in crore) | 366.46 | 246.54 | 221.26 |
| Return on Equity (%) | 29.17% | 18.22% | 26.33% |
| Return on Assets (%) | 12.91% | 8.50% | 11.18% |
| Asset Turnover Ratio (X) | 1.50 | 1.82 | 1.60 |
| Earnings per share (₹) | 23.08 | 10.22 | 12.07 |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has shown a steady growth in top line sales over the last 3 years. While the net profits have doubled in the last one year, the PAT margins at 8.61% are competitive for the industry that the company operates in. ROE and ROA have also shown traction.
Valuation Metrics Of The Mangal Electrical Industries Ltd Ipo
At the current issue price of ₹561 per share, the valuation of the company is at a P/E ratio of 24.3X in terms of latest year EPS. This is reasonable if you look at the comparable players in the similar industry. The company also brings some intangibles to the table. It has a fairly diversified base of industrial and institutional customers. The businesses are integrated backward and forward, giving them much better control over input costs and marketing. The IPO can be considered by investors from a long term perspective, although it would be best to check with your registered financial advisor for fitment into your financial goals.
A Brief on the Anchor Allocation
The anchor issue of Mangal Electrical Industries Ltd saw a relatively healthy response on 19th August 2025 with 28.94% of the IPO size absorbed by anchors. Out of 73,92,321 shares (73.92 lakh shares) on offer, anchors picked up 21,39,020 shares (21.39 lakh shares) accounting for 28.94% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹561 per share. This includes the face value of ₹10 per share plus a share premium of ₹551 per share. The anchor bidding opened and closed on 19th August 2025.
Key Points To Note In The Anchor Allocation Process
Here are the key details pertaining to the anchor bidding of Mangal Electrical Industries Ltd
| Bid Date | August 19, 2025 |
|---|---|
| Shares Offered | 21,39,020 shares |
| Anchor Portion Size (₹ in crore) | ₹120.00 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | September 24, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 23, 2025 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
Anchor Allocation Investors
On 19th August 2025, Mangal Electrical Industries Ltd allotted 21,39,020 shares to 10 anchor investors. The allocation was done at the upper IPO price band of ₹561 per share which resulted in overall anchor allocation of ₹120.00 crore. The anchors have already absorbed 28.94% of the total issue size of ₹414.71 crore. Listed below are 10 anchor investors in the IPO who accounted for anchor collection of ₹120.00 crore or 100.00% of anchor allocation.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Abakkus Diversified Alpha Fund | 6,77,352 | 31.67% | ₹ 38.00 |
| 02 | LC Pharos Multi Strategy Fund | 4,45,614 | 20.83% | ₹ 25.00 |
| 03 | Societe Generale – ODI | 2,13,902 | 10.00% | ₹ 12.00 |
| 04 | Finavenue Growth Fund | 1,78,256 | 8.33% | ₹ 10.00 |
| 05 | Swyom India Alpha Fund | 1,78,256 | 8.33% | ₹ 10.00 |
| 06 | Sundaram Alternate Opportunities | 89,128 | 4.17% | ₹ 5.00 |
| 07 | IMAP India Catalyst Fund | 89,128 | 4.17% | ₹ 5.00 |
| 08 | Sunrise Investment Trust | 89,128 | 4.17% | ₹ 5.00 |
| 09 | Aarth AIF Growth Fund | 89,128 | 4.17% | ₹ 5.00 |
| 10 | Steptrade Revolution Fund | 89,128 | 4.17% | ₹ 5.00 |
| Grand Total | 21,39,020 | 100.00% | ₹ 120.00 |
Data Source: BSE Filings (Value Allocated in ₹ in Crore)
The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.
Out of the 21,39,020 shares allocated to the anchors in the IPO, there were NIL shares allocated to domestic mutual funds registered with SEBI. This allocation was spread largely across alternate investment funds (AIFs).
Next Steps In The Mangal Electrical Industries Ltd IPO
Post the closure of the IPO subscription on 22nd August 2025, the basis of allotment will be finalized on 25th August 2025 and the refunds will be initiated on 26th August 2025. In addition, the demat credits are expected to also happen on 26th August 2025 and the stock will list on 28th August 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th August 2025 under ISIN (INE0PKD01011).
IPO Subscription Status On Day-1
As of 5.05 pm on 20th August 2025, out of the 52.53 lakh shares on offer in the IPO (excluding anchor portion), Mangal Electrical Industries Ltd saw bids for 28.44 lakh shares. This implies an overall subscription of 0.54X at a macro level. The granular break-up of subscriptions as of the close of Day-1 of the IPO of Mangal Electrical Industries Ltd was as under:
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 21,39,020 | 21,39,020 | 120.00 |
| Employee Quota | #DIV/0! | 0 | 0 | 0.00 |
| QIB Investors | 0.12 | 15,00,955 | 1,83,742 | 10.31 |
| HNIs / NIIs | 0.72 | 11,25,704 | 8,09,848 | 45.43 |
| Retail Investors | 0.70 | 26,26,642 | 18,49,952 | 103.78 |
| Total | 0.54 | 52,53,301 | 28,43,542 | 159.52 |
Data Source: NSE / BSE (as of close of Day-1 of the IPO)
The IPO is open up to August 22, 2024, at which point we will know the final subscription status of the IPO.
Next Steps In The Mangal Electrical Industries Ltd IPO
Post the closure of the IPO subscription on 22nd August 2025, the basis of allotment will be finalized on 25th August 2025 and the refunds will be initiated on 26th August 2025. In addition, the demat credits are expected to also happen on 26th August 2025 and the stock will list on 28th August 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th August 2025 under ISIN (INE0PKD01011).
IPO Subscription Status On Day-2
As of 5.15 pm on 21st August 2025, out of the 52.53 lakh shares on offer in the IPO (excluding anchor portion), Mangal Electrical Industries Ltd saw bids for 103.81 lakh shares. This implies an overall subscription of 1.98X at a macro level. The granular break-up of subscriptions as of the close of Day-2 of the Mangal Electrical Industries IPO was as under:
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 21,39,020 | 21,39,020 | 120.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 0.13 | 15,00,955 | 2,01,136 | 11.28 |
| HNIs / NIIs | 4.20 | 11,25,704 | 47,24,902 | 265.07 |
| Retail Investors | 2.08 | 26,26,642 | 54,55,164 | 306.03 |
| Total | 1.98 | 52,53,301 | 1,03,81,202 | 582.39 |
Data Source: NSE / BSE (as of close of Day-2 of the IPO)
The IPO is open up to August 22, 2024, at which point we will know the final subscription status of the IPO.
Next Steps In The Mangal Electrical Industries Ltd IPO
Post the closure of the IPO subscription on 22nd August 2025, the basis of allotment will be finalized on 25th August 2025 and the refunds will be initiated on 26th August 2025. In addition, the demat credits are expected to also happen on 26th August 2025 and the stock will list on 28th August 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th August 2025 under ISIN (INE0PKD01011).
IPO Subscription Status On Day-3
As of 7.15 pm on 22nd August 2025, out of the 52.53 lakh shares on offer in the IPO (excluding anchor portion), Mangal Electrical Industries Ltd saw bids for 496.75 lakh shares. This implies an overall subscription of 9.46X at a macro level. The granular break-up of subscriptions as of the close of Day-3 of the Mangal Electrical Industries IPO was as under:
The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum on the last day, and that was the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 21,39,020 | 21,39,020 | 120.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 10.54 | 15,00,955 | 1,58,21,702 | 887.60 |
| HNIs / NIIs | 18.79 | 11,25,704 | 2,11,52,664 | 1,186.66 |
| Retail Investors | 4.84 | 26,26,642 | 1,27,00,272 | 712.49 |
| Total | 9.46 | 52,53,301 | 4,96,74,638 | 2,786.75 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO was open up to the close of trading hours on August 22, 2025, at which point the IPO has been closed for subscription. The subscription table above as finalized at 7.00 PM is the final subscription picture of the IPO of Mangal Electrical Industries Ltd.
Next Steps In The Mangal Electrical Industries Ltd IPO
Post the closure of the IPO subscription on 22nd August 2025, the basis of allotment will be finalized on 25th August 2025 and the refunds will be initiated on 26th August 2025. In addition, the demat credits are expected to also happen on 26th August 2025 and the stock will list on 28th August 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th August 2025 under ISIN (INE0PKD01011).
About The Mangal Electrical Industries Ltd IPO
The IPO of Mangal Electrical Industries Ltd opened for subscription on August 20th, 2025 and closed on August 22nd, 2025. The overall IPO comprised of a fresh issue of 73,92,321 shares (73.92 lakh shares) worth ₹414.71 crore at the upper band price of ₹561 per share. The allotment status will be finalized by end of day (EOD) of August 25th, 2025. Here is how to check your allotment status for the IPO of Mangal Electrical Industries Ltd. You can check IPO status on BSE or NSE or IPO Registrar (Bigshare Services Private Ltd) website.
Checking The Allotment Status of IPO on BSE Website
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
- Under Issue Type – Select Equity Option
- Under Issue Name – Select Mangal Electrical Industries Ltd from the drop down box
- Enter the Application Number / CAF exactly as in the acknowledgement slip .OR.
- Enter your PAN (10-digit alphanumeric) number
- Once this is done, you need to click on the Captcha to verify you are not a robot
- Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Mangal Electrical Industries Ltd allotted into your demat account. You can save a screenshot of the allotment status output for verifying with demat account credits.
Checking Allotment Status on NSE Website
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
- Under Issue Type – Select Equity & SME IPO Details Option
- Under SELECT SYMBOL – Select MEIL from the drop down box
- Enter the Application Number / CAF exactly as in the acknowledgement slip .AND.
- Enter your PAN (10-digit alphanumeric) number
- Once both are entered, click on the Submit Button
You must input both data points; the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Mangal Electrical Industries Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
Checking Allotment Statusof IPO On Bigshare Services Private Limited
Here are the steps to follow. Visit the Bigshare Services Private Ltd registrar website for IPO status by clicking on the link below:
https://ipo.bigshareonline.com/IPO_Status.html
Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are server backups in case one server is experiencing too much traffic, you can select another server and try again. There will be no output difference, whichever server you select.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Mangal Electrical Industries Ltd from the dropdown box. Once the company is selected from the dropdown box, you have 3 methods to check allotment status for the IPO.
- Firstly, you can access with Application Number / CAF Number. Enter the Application / CAF number, enter the captcha, and then click on the search button.
- Secondly, you can search by Beneficiary ID of your demat account. Remember that the NSDL string is alphanumeric while the CDSL string is numeric. Write it in once single string in the box. Then enter the captcha and press the search button.
- Thirdly, you can search by Income Tax PAN number. Once you select PAN from the dropdown menu, enter your 10-digit PAN number, enter the captcha code and then, click on the Search Button.
The IPO status with number of shares of Mangal Electrical Industries Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference
In case, you have any issues with the output, register an investor query with Bigshare Services India Private Ltd. You can either send an email with all requisite details and problem to [emailprotected] or you can call on (+91)-22-6263-8200 for voice call.
Next Steps In The Mangal Electrical Industries Ltd IPO
Post the closure of the IPO subscription on 22nd August 2025, the basis of allotment will be finalized on 25th August 2025 and the refunds will be initiated on 26th August 2025. In addition, the demat credits are expected to also happen on 26th August 2025 and the stock will list on 28th August 2025 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 26th August 2025 under ISIN (INE0PKD01011).
Tepid Listing For Mangal Electrical Industries Ltd
Mangal Electrical Industries Ltd had a tepid listing on 28th August 2025. On the NSE, the stock of Mangal Electrical Industries Ltd listed at ₹556, a discount of -0.89% to the IPO price of ₹561 per share. The issue was subscribed just 9.95 times overall at the close of the IPO, so opening sentiments being tepid is not surprising. However, Trump sentiments also played a part.
On the BSE also, the listing of Mangal Electrical Industries Ltd was quite tepid . Against the issue price of ₹561 per share, the stock listed at ₹558, a discount of -0.53% to the issue price. The stock of Mangal Electrical Industries Ltd is on T+1 rolling settlement system.
How The Stock Moved During The Day?
After opening lower at ₹556 per share on the NSE, the stock stayed below the IPO price through most of the trading day. During the day, the stock of Mangal Electrical Industries Ltd touched a high of ₹566 and an intraday low of ₹527.35. On the NSE, the upper circuit band of the stock is set at ₹667.20 while the lower circuit band is set at ₹444.80 per share.
What about the BSE? After opening lower at ₹558 per share on the BSE, the stock stayed below the IPO price through most of the day. During the day, the stock of Mangal Electrical Industries Ltd touched a high of ₹565 and an intraday low of ₹527.30. On the BSE, the upper circuit band of the stock is set at ₹669.55 while the lower circuit band is set at ₹446.40 per share.
How Did The Stock on Listing Day?
Here is how the stock of Mangal Electrical Industries Ltd closed on the NSE. The closing price of ₹530 per share is at a discount of -5.53% to the IPO issue price and a discount of -4.68% to the listing price of ₹556 per share on the NSE. The company had a market cap of ₹1,464 crore at close. During the day, the stock of Mangal Electrical Industries Ltd traded 58.30 lakh shares on the NSE, with total traded value of ₹321.16 crore. Deliveries were 43.2% on NSE
Here is how the stock of Mangal Electrical Industries Ltd closed on the BSE. The closing price of ₹533.95 per share is at a discount of -4.82% to the IPO issue price and a discount of -4.31% to the listing price of ͭ₹558 on the BSE. The company had a market cap of ₹1,475 crore as of close. During the day, the stock of Mangal Electrical Industries Ltd traded 5.05 lakh shares on the BSE, having a total traded value of ₹27.86 crore. Deliveries were 42% on the BSE.
The stock trades under the codes: NSE (BRIGHOTEL), BSE (544457), ISIN (INE03NU01014).
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