Mangal Electrical Industries Limited is a leading manufacturer of transformers and transformer components, serving the distribution and transmission needs of the power sector. With decades of expertise, the company has established itself as a trusted name in delivering high-quality, energy-efficient electrical products.
The company’s operations span the processing and production of critical transformer components, including laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers (ICB). These products are marketed under the “Mangal Electrical” brand, known for its strong reputation and high recall value among customers in the power and electrical equipment industries.
In addition to manufacturing, Mangal Electrical trades CRGO and CRNO coils as well as amorphous ribbons, and produces transformers ranging from 5 KVA to 10 MVA. The company also provides EPC (Engineering, Procurement, and Construction) services for setting up electrical substations, further strengthening its role in the power infrastructure sector.
With five advanced production facilities in Rajasthan, the company boasts impressive annual capacities, including:
- 16,200 MT for CRGO
- 750,000 KVA for transformers
- 75,000 units for ICB
- 2,400 MT for amorphous units
Product Portfolio Highlights:
- CRGO Wide Coil: High magnetic permeability and low core loss, designed for large transformers where efficiency is paramount.
- CRGO Slit Coil: Precision-engineered slit coils for exact transformer core dimensions, reducing energy loss and enhancing performance.
- CRGO Core Assembly: Expertly assembled laminations to ensure minimal core loss and optimal transformer efficiency.
As of June 30, 2025, Mangal Electrical Industries employed 761 permanent employees across its registered office, corporate office, and manufacturing units, reflecting its strong human resource base to support growth and operations.
Mangal Electrical IPO – Details
| IPO Opening Date | 20 August 2025 |
| IPO Closing Date | 22 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 71,30,124 Shares Worth ₹400.00 Crore Fresh Issue: 71,30,124 Shares Worth ₹400.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹533 – ₹561 per share |
| Market Lot | 26 Shares |
| Min Order | 26 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Mangal Electrical IPO – Date Schedule
| IPO Open Date | 20 August 2025 |
| IPO Close Date | 22 August 2025 |
| Basis of Allotment | 25 August 2025 |
| Initiation of Refund | 26 August 2025 |
| Credit of Shares to Demat Account | 26 August 2025 |
| IPO Listing Date | 28 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 22, 2025 |
Mangal Electrical IPO – Lots Size & Price
| 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 |
Competitive Strength
- 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 Promoters
- Rahul Mangal
- Ashish Mangal
- Saroj Mangal
- Aniketa Mangal
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹357.81 Cr | ₹324.94 Cr | ₹24.74 Cr | ₹96.64 Cr |
| 31 March 2024 | ₹452.13 Cr | ₹424.02 Cr | ₹20.95 Cr | ₹92.12 Cr |
| 31 March 2025 | ₹551.39 Cr | ₹487.68 Cr | ₹47.31 Cr | ₹149.12 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 29% |
| ROCE | 25.38% |
| Debt/Equity | 0.92 |
| RoNW | 34.14% |
| PAT Margin | 8.61% |
| EBITDA Margin | 14.90% |
| Price to Book Value | 7.09 |
| Pre IPO | Post IPO | |
| EPS (₹) | 23.08 | 17.12 |
| P/E (x) | 24.31 | 32.77 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company. | ₹101.27 |
| Capital expenditure, including civil works of the Company for expanding the facility at Unit IV situated at Reengus, Sikar District, Rajasthan. | ₹87.86 |
| Funding working capital requirements of the Company. | ₹122.00 |
| General corporate purposes. |
Mangal Electrical IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Vilas Transcore Limited | 36.48 |
| 2 | 10 | Jay Bee Lamination Limited | 18.28 |
✅Strengths
- Wide product range in transformers & components.
- Strong “Mangal Electrical” brand recall.
- Five integrated high-capacity manufacturing units.
- Established customer base & repeat orders.
- Experienced management team.
⚠️Risks
- Dependence on power sector demand.
- Raw material price fluctuations.
- High working capital needs.
- Strong industry competition.
- Regulatory & policy change impact.
Mangal Electrical IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 74.19% |
Mangal Electrical IPO Prospectus
Company Contact Information
| Mangal Electrical Industries Ltd. C-61, C-61 (A&B), Road No. 1-C, V. K. I. Area, Jaipur, Rajasthan, 302013 Phone: +91141-4036113 Email: compliance@mangals.com Website: http://www.mangals.com/ |
Mangal Electrical IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Mangal Electrical IPO Lead Manager(s)
| 1. Systematix Corporate Services Ltd. |
Mangal Electrical IPO FAQs
| What is Mangal Electrical IPO? Mangal Electrical IPO is a main-board IPO. The issue is priced at ₹533 to ₹561 per equity share. The IPO is to be listed on BSE & NSE. |
| When will Mangal Electrical IPO open? The IPO is to open on 20 August 2025 for QIB, NII, and Retail Investors. |
| What is Mangal Electrical IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Mangal Electrical IPO? You can apply Mangal Electrical IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Mangal Electrical IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Mangal Electrical IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Mangal Electrical IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Mangal Electrical IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Mangal Electrical IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Mangal Electrical IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Mangal Electrical IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Mangal Electrical IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Mangal Electrical IPO Size? Mangal Electrical IPO size is ₹400.00 Crore. |
| What is the Mangal Electrical IPO Price Band? Mangal Electrical IPO Price Band is ₹533 to ₹561. |
| What is the Mangal Electrical IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 26 Shares with ₹14,586 while the maximum bid is 338 Shares with ₹1,89,618. |
| What is the Mangal Electrical IPO Allotment Date? Mangal Electrical IPO allotment date is 25 August 2025. |
| What is the Mangal Electrical IPO Listing Date? Mangal Electrical IPO listing date is 28 August 2025. The IPO is to be listed on BSE and NSE. |
