Price Band of ₹533/– ₹561/- per Equity Share bearing face value of ₹10/- each (“Equity Shares”)
Bid/Offer Opening Date – Wednesday, August 20, 2025 and Bid/Offer Closing Date –Friday, August 22, 2025.
Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter.
Mumbai, August 14, 2025: Mangal Electrical Industries Limited has fixed the price band of ₹533/- to ₹561/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Wednesday, August 20, 2025, for subscription and close on Friday, August 22, 2025. Investors can bid for a minimum of 26 Equity Shares and in multiples of 26 Equity Shares thereafter.
The IPO is entirely a fresh issue of shares up to Rs 40,000 lakhs.
The proceeds from the fresh issue to the extent of Rs 10,126.65 lakhs for repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the company; Rs 8,785.63 lakhs for capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan; Rs 12,200.00 lakhs for funding working capital requirements of the Company and the balance is for general corporate purposes.
Mangal Electrical Industries Limited specializes in processing transformer components, including transformer laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. It also trades CRGO and CRNO coils, as well as amorphous ribbons. Additionally, it manufactures transformers and customized products for the power infrastructure industry. Its transformer range spans from single-phase 5 KVA to three-phase 10 MVA units. It also offers EPC services for construction of electrical substations under turnkey project, serving the power sector.
The company has five production facilities in Rajasthan with an aggregate production capacity of 16,200 MT for CRGO, 10,22,500 KVA for transformers and 75,000 units for ICB and 2,400 MT for Amorphous units per annum.
It is both NABL and PGCIL lab approved underscoring its adherence to stringent quality standards. It has also approved by PGCIL approval for processing of CRGO and lamination for transformers/ reactors from up to 765 kV class and are also an ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified with a global customer base. The company has also obtained NTPC approval for CRGO processing.
Further, it also possess Brockhaus Messtechnik, a Germany based machinery, used for quality control checks that enables it to achieve high-efficiency level outputs.
The company's customer mix primarily include government discoms and private such as Ajmer Vidyut Vitran Nigam Limited (AVVNL) and Jaipur Vidyut Vitran Nigam Limited (JVVNL) and private sector such as Voltamp Transformers Limited and Western Electrotrans Private Limited etc. It has exported its transformer components to Netherlands, United Arab Emirates, Oman, United States of America, Italy and Nepal.
Systematix Corporate Services Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue.
The Issue is being made through the book-building process, wherein not more than 50% of the net issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the issue shall be available for allocation to non-institutional investors, and not less than 35% of the issue shall be available for allocation to retail individual investors.
MANGAL ELECTRICAL INDUSTRIES LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated August 13, 2025 with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., Systematix Corporate Services Limited at www.systematixgroup.in, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https://www.mangals.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 28 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
The Equity Shares offered in the Issue have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).
Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the
Issue or the specified securities stated in the Offer Documents. The investors are advised to refer to page 374 of the RHP for the full text of the disclaimer clause of SEBI.
Disclaimer Clause of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 376 of the RHP for the full text of the disclaimer clause of BSE.
Disclaimer Clause of NSE (the Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to page 376 of the RHP for the full text of the disclaimer clause of NSE.
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