Mangal Electrical Industries Limited IPO

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Mangal Electrical Industries is a power infrastructure company specializing in processing and manufacturing transformer components, transformers, and providing EPC solutions for electrical substations. With more than three decades of experience in the power distribution and technology sector, the company has built a strong reputation in both domestic and international markets.

Business Activities

i) Transformer Components Processing: Includes laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers (ICB).

ii) Trading: CRGO and CRNO coils, and amorphous ribbons.

iii) Transformer Manufacturing: Range from single-phase 5 KVA to three-phase 10 MVA units.

iv) EPC Services: Turnkey solutions for electrical substations catering to government and public sector undertakings.

Customer Base and Order Book

Mangal Electrical Industries caters to government utilities, private energy producers, and exports to countries like the UAE, USA, and Italy, reflecting a well-diversified and resilient customer base across sectors and geographies.

As of June 30, 2025, order book stood at ₹29,419.78 lakhs across business segments. EPC order book limited to government and PSUs, with four turnkey projects successfully completed.

Strengths

1. Strong Leadership – Promoter-led with 35+ years’ experience, guided by Rahul Mangal and supported by Aniketa Mangal.
2. Regulatory Approvals – Holds certifications and approvals available only to selected players, enabling participation in high-voltage transformer projects.
3. Diversified Customer Base – Wide mix of domestic and global clients across power utilities, PSUs, and private sector.
4. Backward & Forward Integration – In-house CRGO, amorphous, and ICB processing; forward integration through transformer manufacturing and EPC services.
5. Proven Growth Track Record – Sustained revenue growth across cycles, leveraging domestic and global opportunities while adapting to industry advancements.

Objects of the Mangal Electrical Industries Limited IPO:

Company proposes to utilize the Net Proceeds towards funding the following objects: 1. Repayment/prepayment of certain outstanding borrowings (₹101.26) 2. Capital expenditure including civil works (₹87.85 cr) 3. Funding working capital requirements (₹122 cr) 4. General corporate purposes

Mangal Electrical Industries Limited IPO Details:

Open Date: Aug 20 2025
Close Date: Aug 22 2025
Total Shares: 71,30,124
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 400 Cr.
Lot Size: 26 Shares
Issue Price: ₹ 533-561 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

1. Rahul Mangal – Chairman and Managing Director of the Company. A science graduate from University of Rajasthan, Jaipur, he has been associated with the Company since 2008. With over 35 years of experience in the power distribution and technology sectors, including as a partner in the erstwhile firm Mangal Electrical Industries, he oversees board strategies and implementation of growth initiatives. 2. Ompal Sharma – Executive Director of the Company. A commerce graduate from Meerut University, he has over 16 years of experience in the electrical equipment industry. Appointed Executive Director in 2019 after serving as Vice President – Business Development, he contributes insights into the Company’s operations. 3. Aniketa Mangal – Executive Director of the Company. He holds a postgraduate degree in Family Managed Business from S.P. Jain Institute of Management & Research. Associated with the Company since 2016 and elevated to director in 2022, he has 8 years of cross-functional experience and is responsible for business development, operations, and strategic leadership.

Financials of Mangal Electrical Industries Limited IPO:

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Mangal Electrical Industries Limited IPO:

  1. Systematix Corporate Services Limited

Registrar of Mangal Electrical Industries Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Mangal Electrical Industries Limited IPO:

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