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Mangal Electrical IPO
Price Band
₹533.0–561.0
Issue Size
₹400.0 Cr
Lot Size
26 shares
Min Investment
₹14,586
GMP
₹-3.0 (-0.53%)
Issue Price
₹561.0
Mangal Electrical IPO AI Summary
- Mangal Electrical IPO is listed on BSE, NSE in the Other Electrical Equipment sector.
- Price band: ₹533.0–₹561.0 per share, lot size 26 shares (min. investment ₹14,586).
- Subscription window: 20 Aug–22 Aug 2025, listing on 28 Aug 2025.
- Current GMP is ₹-3.0 (-0.53%), an estimated listing price of ₹558 — unofficial and can change daily.
Mangal Electrical Industries Limited is set to raise ₹400 Cr through its IPO, with a strong focus on expanding its manufacturing capabilities and addressing its working capital needs. The company's financial performance shows a positive trend in both revenue and profit, making it a notable player in the electrical equipment sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Mangal Electrical IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 22 Aug 2025 — not a current signal.
2 of 2 reviewers say Neutral
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Mangal Electrical IPO Grey Market Premium (GMP) Today
GMP
₹-3.0
GMP %
-0.53%
Est. Listing
₹558.0
Updated: 25 Jul 2026 14:13
About the Company
Incorporated in 2008, Mangal Electrical Industries Limited is engaged in manufacturing the transformers that are used for the distribution and transmission of electricity in the power sector. The company processes transformer components, including lamination, CRGO slit coils, amorphous cores, coil and core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers. The company markets and sells its products under the brand name "Mangal Electrical," known for its strong reputation and high brand recall value. The company trades CRGO and CRNO coils, and amorphous ribbons, and manufactures transformers (5 KVA to 10 MVA). It also provides EPC services for setting up electrical substations in the power infrastructure sector. The company operates five production facilities in Rajasthan with an annual capacity of 16,200 MT for CRGO, 10,22,500 KVA for transformers, 75,000 units for ICB, and 2,400 MT for amorphous units. Products Portfolio: The company manufactures and supplies critical components for transformers used in electricity distribution and transmission, including small, distribution, and large transformers, contributing to energy-saving electrical equipment. CRGO Wide Coil: The company manufactures CRGO-wide coils with high magnetic permeability and low core loss, ideal for large transformers where high efficiency is crucial for optimal performance. CRGO Slit Coil: The company manufactures precision slit coils from CRGO sheets, ensuring exact dimensions for transformer core construction, reducing energy loss, and enhancing efficiency in transformer production where precise sizing is essential. CRGO Core Assembly: The company assembles CRGO laminations for core assemblies, ensuring low core loss and high efficiency, used in various transformers to minimize energy loss and optimize operational performance. As of June 30, 2025, the company had 761 permanent employees in the registered and corporate offices and across all the units. Competitive Strengths: Promoters exhibit strong leadership and are supported by experienced senior management. Exhibition of certain approvals available to selected market players. Diversified base of customers. Strong backward and forward integration which ensures operational efficiency. Proven track record of consistent growth.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 366.46 | 246.54 | 221.26 |
| Total Income | 551.39 | 452.13 | 357.81 |
| Profit After Tax | 47.31 | 20.95 | 24.74 |
| EBITDA | 81.84 | 42.63 | 44.42 |
| NET Worth | 162.16 | 114.99 | 93.97 |
| Total Borrowing | 149.12 | 92.12 | 96.64 |
Key Ratios
EPS
₹23.08
NAV
₹79.10
ROE
29%
ROCE
25.38%
RoNW
34.14%
P/B Value
7.09
P/E Ratio
24.31
Market Cap
₹1550.05 Cr
PAT Margin
8.61%
Debt/Equity
0.92
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Jay Bee Laminations Limited | 65.42 | 24.11% | 18.28 | 12.31 | 12.31 |
| Vilash Transcore Limited | 117.68 | 15.27% | 36.48 | 14.58 | 14.58 |
| Mangal Electrical Industries Limited This IPO | 79.1 | 34.14% | — | 23.08 | 23.08 |
Promoters
Rahul Mangal, Ashish Mangal, Saroj Mangal and Aniketa Mangal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company 101.27 2 Capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan 87.86 3 Funding working capital requirements of the Company 122.00 4 General Corporate Purposes 64.84 5 Issue Expenses 24.03 Total 400.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹357.81 Cr in 31 Mar 2023, rising to ₹452.13 Cr by 31 Mar 2024, and further increasing to ₹551.39 Cr by 31 Mar 2025. This shows a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹24.74 Cr in 31 Mar 2023, increasing to ₹20.95 Cr by 31 Mar 2024, and then rising to ₹47.31 Cr by 31 Mar 2025. This indicates a significant growth in profitability, particularly in the most recent period.
Valuation
Mangal Electrical Industries Limited's implied P/E ratio at the issue price is approximately 24.31, compared to peers trading at P/E ratios ranging from 18.28 to 36.48.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price, reflecting market sentiment. A positive GMP suggests strong demand, while a negative GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market conditions, and their own financial goals.
Who May Want to Wait
Investors with a low risk tolerance or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to significant price fluctuations.
IPO Timeline, Explained
The IPO opens for subscription on 20 August 2025 and closes on 22 August 2025. Allotment will be finalized by 25 August 2025, with the listing date set for 28 August 2025.
Listing Gains — The Risk
Listing day gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. It's important for investors to consider these factors before investing.
This evaluation is generated from Mangal Electrical's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Mangal Electrical IPO GMP today?
Mangal Electrical IPO GMP today is ₹-3.0 (-0.53%), indicating an estimated listing price of ₹558. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Mangal Electrical IPO?
The price band of Mangal Electrical IPO is ₹533.0–₹561.0 per share.
When does Mangal Electrical IPO open and close?
Mangal Electrical IPO opens on 20 August 2025 and closes on 22 August 2025.
When does Mangal Electrical IPO list on the stock exchange?
Mangal Electrical IPO listed on 28 August 2025 at ₹558.0.
What is the lot size for Mangal Electrical IPO?
The lot size for Mangal Electrical IPO is 26 shares, requiring a minimum investment of ₹14,586.
What is the price band for the IPO?
The price band for the IPO is ₹533.0 to ₹561.0.
What is the minimum investment required?
The minimum investment required is ₹14,586.0.
What is the lot size for the IPO?
The lot size for the IPO is 26 shares.
When is the listing date?
The listing date is 28 August 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
20 Aug 2025
Close
22 Aug 2025
Allotment
25 Aug 2025
Listing
28 Aug 2025
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