Mangal Electrical Industries Ltd. is scheduled to launch its initial public offering (IPO) on Wednesday, Aug. 20.
The Jaipur-based company manufactures transformers used in electricity distribution and transmission for the power sector. With the bidding window opening soon, here’s a look at the grey market premium (GMP) and other key details about the Mangal Electrical IPO.
Mangal Electrical IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for Mangal Electrical Industries IPO stood at Rs 0 as of 8 a.m. on Aug. 19. The latest GMP indicates a flat listing of the IPO shares compared to the upper end of the price band of Rs 561 per share.
Note: GMP does not represent official data and is based on speculation.
Mangal Electrical IPO Key Details
The mainboard IPO is a book-built issue worth Rs 400 crore. The entire offering comprises a fresh issue of 71 lakh equity shares, with no offer-for-sale component.
The price band for Mangal Electrical IPO has been set between Rs 533 and Rs 561 per share. Investors can bid for at least a single lot size of 26 shares, amounting to a minimum investment of Rs 13,858 for retail investors. For small non-institutional investors (sNII), the minimum bid is 14 lots (364 shares) amounting to Rs 2,04,204, while for big non-institutional investors (bNII), the minimum application size is 69 lots, or 1,794 shares, translating to an investment of Rs 10,06,434.
The subscription window for Mangal Electrical IPO will remain open from Aug. 20 to Aug. 22. The IPO share allotment status is expected to be finalised on Aug. 25, followed by the initiation of refunds and credit of shares to the Demat accounts on Aug. 26.
The company’s shares are tentatively scheduled to list on the BSE and NSE on Aug. 28.
Systematix Corporate Services Ltd. is acting as the book-running lead manager for the Mangal Electrical IPO, while Bigshare Services Pvt. Ltd. has been appointed as the issue’s registrar.
Mangal Electrical Industries: Business And Financials
Mangal Electrical Industries Ltd. was established in 2008. It specialises in manufacturing and processing transformer components, which are sold under its in-house brand “Mangal Electrical.” Alongside its product portfolio, the company undertakes EPC projects for the installation of electrical substations catering to the power infrastructure sector. Its operations are supported by five production facilities in Rajasthan.
Use of Proceeds
Mangal Electrical Industries Ltd. plans to use the proceeds from its IPO for several purposes. These include repayment or prepayment of certain borrowings, capital expenditure for expanding its Unit IV facility at Reengus in Rajasthan, meeting working capital needs and addressing general corporate requirements.
Financials
Mangal Electrical Industries’ total income increased to Rs 551.39 crore in FY25 from Rs 452.13 crore in the preceding financial year. The company’s profit after tax rose to Rs 47.31 crore in FY25 from Rs 20.95 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.