Mangal Electrical Industries Limited, a company engaged in the business of transformer components, lamination, CRGO slit coils, amorphous cores, coil assemblies, wound cores, toroidal cores, and oil immersed circuit breakers, has come out with its Initial Public Offering (IPO). The company also trades in CRGO and CRNO coils, amorphous ribbons, and manufactures transformers and customised products for the power infrastructure industry.

The IPO of Mangal Electrical Industries has drawn attention from retail investors, high-net-worth individuals (HNIs), and institutional investors. Let us take a detailed look at the IPO structure, subscription performance, and market outlook.

IPO Structure and Details

The Mangal Electrical Industries IPO is a Book Built Issue amounting to ₹400 crore, consisting entirely of a Fresh Issue of 71.30 lakh equity shares. The subscription window opened on 20th August 2025 and closed on 22nd August 2025.

The allotment of shares is expected to be finalised on or around Monday, 25th August 2025, with the company’s equity shares scheduled to list on both BSE and NSE. The tentative listing date is Thursday, 28th August 2025.

The price band of the IPO has been fixed at ₹533 to ₹561 per equity share, while the market capitalisation at the upper end of the price band, i.e., ₹561, is estimated at ₹1,550.05 crore.

The IPO lot size is fixed at 26 shares, making the minimum investment for retail investors ₹14,586. For HNIs, the minimum application size is 14 lots (364 shares), requiring an investment of ₹2,04,204.

Lead Manager and Registrar

The Book Running Lead Manager for the IPO is Systematix Corporate Services Limited, while Bigshare Services Private Limited is acting as the Registrar to the issue.

Subscription Status

As of 12:00 PM on 22nd August 2025, the Mangal Electrical Industries IPO has been subscribed 1.09 times on the final day of the issue. This indicates a decent response from investors, though not oversubscribed to a large extent.

The subscription figures reflect investor confidence in the company’s fundamentals, though the response remained moderate compared to some recent high-demand IPOs.

Anchor Investors Participation

Ahead of the IPO, Mangal Electrical Industries successfully raised ₹119.99 crore from Anchor Investors at the upper price band of ₹561 per share. In consultation with the book running lead managers, the company allocated 21,39,020 equity shares to Anchor Investors.

The anchor book allocation showcases strong institutional interest and adds credibility to the IPO. Investors often view anchor investor participation as a positive signal for the issue.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for Mangal Electrical Industries IPO is currently reported at ₹0. This indicates that no active grey market trading is happening ahead of listing.

It must be noted that GMP is an unofficial indicator of investor sentiment in the unorganised market and should not be taken as a reliable predictor of listing gains. Market experts suggest that investors should not rely solely on GMP while deciding on IPO participation.

Market Outlook

Mangal Electrical Industries operates in the power infrastructure sector, which is expected to witness strong growth with India’s focus on renewable energy, transmission, and distribution infrastructure.

The company’s diverse product portfolio, which includes transformer laminations, CRGO coils, amorphous cores, and oil immersed circuit breakers, positions it well to benefit from demand in both domestic and export markets.

The funds raised through the IPO will provide the company with additional working capital, expansion capability, and balance sheet strengthening, enabling it to compete more effectively.

Key Dates for Investors

• IPO Opened: 20th August 2025

• IPO Closed: 22nd August 2025

• Allotment Finalisation: 25th August 2025

• Tentative Listing Date: 28th August 2025

Conclusion

The Mangal Electrical Industries IPO closed with a subscription of 1.09 times, raising ₹400 crore entirely through a fresh issue. With a price band of ₹533–₹561 per share, the company attracted anchor investments of ₹119.99 crore but did not witness significant grey market activity, as reflected in a GMP of ₹0.

For investors, the IPO offers exposure to a company operating in the transformer and power infrastructure space, with potential to benefit from India’s growing energy sector. The final listing performance will depend on broader market sentiment and institutional support during listing.

The Upcoming IPOs in this week and coming weeks are Amanta Healthcare, Rachit Paints, Abril Paper Tech, Sneha Organics, Sugs Lloyd, .

The Current active IPO are Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering, Shivashrit Foods, Anondita Medicare, Classic Electrodes (India).

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