Mangal Electrical Industries IPO
Mangal Electrical Industries Limited · Power Transformers and Transformer Components
- Price band
- To be announcedNot in this filing
- Issue size
- ₹400 Cr
- Face value
- ₹10per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingTue, 2025
- OpensWed, 2025
- ClosesFri, 2025
- AllotmentMon, 2025
- ListingThu, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- —
- Offer for sale
- None
- Total issue
- —
- Face value
- ₹10
- Listing at
- NSE, BSE
- RHP date
- 13 Aug 2025
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 35% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | 50% |
| Anchor investors | — | — | — |
| Market maker | — | — | — |
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once it is added from a licensed data source.
Valuation
FY 2024-25- EPS (basic)
- ₹23.08
- EPS (diluted)
- ₹23.08
- RoNW
- 34.14%
- ROCE
- 25.38%
- NAV per share (March 31, 2025)
- ₹79.1
- Debt to equity
- 0.92×
- EBITDA margin
- 14.90%
- PAT margin
- 8.61%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 549.42 | 449.48 | 354.31 |
| Total income | 551.39 | 452.13 | 357.81 |
| EBITDA | 81.84 | 42.63 | 44.42 |
| Profit after tax | 47.31 | 20.95 | 24.74 |
| Net worth | 162.16 | 114.99 | 93.97 |
| Reserves and surplus | 141.66 | 94.49 | 73.47 |
| Total assets | 366.46 | 246.54 | 221.26 |
| Total borrowing | 149.12 | 92.12 | 96.64 |
FY 2024-25 vs FY 2023-24: revenue +22.2%, profit after tax +125.8%.
Source: Red Herring Prospectus dated 13 Aug 2025Updated
About the company
The company processes transformer components such as laminations, CRGO slit coils and cores, and also manufactures transformers and provides EPC services for electrical substations. It operates five production facilities in Rajasthan and sells mainly to state utilities and private power producers.
- Incorporated
- 2008
- Sector
- Power Transformers and Transformer Components
- CIN
- U31909RJ2008PLC026255
- Website
- mangals.com/index.html
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Rahul Mangal | 41.09% | — |
| Saroj Mangal | 28.37% | — |
| Ashish Mangal | 19.67% | — |
| Aniketa Mangal | 10.24% | — |
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of certain outstanding borrowings | 101.27 |
| Capital expenditure for expanding Unit IV facility at Reengus, Sikar | 87.86 |
| Funding working capital requirements | 122.00 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Mangal Electrical Industries LimitedIssuer | ₹23.08 | — | 34.14% | ₹79.1 |
| Vilas Transcore Limited | ₹14.58 | 36.48× | 15.27% | ₹117.68 |
| Jay Bee Laminations Limited | ₹12.31 | 18.28× | 24.11% | ₹65.42 |
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Long experience in processing transformer components and manufacturing transformers.
- Five production facilities in Rajasthan with stated capacities across CRGO, transformers, ICB and amorphous products.
- Customer base spans state utilities and private power producers across several states.
- Track record of approvals including PGCIL and NABL lab recognition and ISO certifications.
- Revenue and profitability grew across the three years shown in the restated financials.
Risks
- Raw material costs such as steel and copper are volatile and the company has no long-term supplier contracts.
- Heavy dependence on transformer and CRGO product demand, which drives a large share of revenue.
- Manufacturing facilities are concentrated in Rajasthan, so regional disruptions could affect operations.
- Debt-equity ratio and short-term borrowings are high relative to the company's history, and a large part of the proceeds is for repayment of debt.
- Net proceeds are based on management estimates and the Issue Price has not been finalised in this document.
Source: Red Herring Prospectus dated 13 Aug 2025Updated
Contacts
Source: Red Herring Prospectus dated 13 Aug 2025Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the Mangal Electrical Industries IPO open and close?
According to the Red Herring Prospectus, the issue opens on Wednesday, 20 August 2025 and closes on Friday, 22 August 2025. These dates are tentative.
What is the Mangal Electrical Industries IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Mangal Electrical Industries shares list?
On NSE and BSE. The tentative listing date is Thursday, 28 August 2025.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How will the money raised be used?
₹101.27 Cr for repayment or prepayment of certain outstanding borrowings, ₹87.86 Cr for capital expenditure for expanding Unit IV facility at Reengus, Sikar, ₹122 Cr for funding working capital requirements, and the rest for the other stated purposes.