Mangal Electrical Industries Ltd. has announced a price band of ₹533–561 per share for its ₹400 crore initial public offering (IPO), opening for public subscription on August 20, 2025. The company plans to use the proceeds for debt reduction, capacity expansion, and working capital needs, strengthening its position in the power infrastructure sector.
Mangal Electrical Industries Ltd., headquartered in Jaipur, Rajasthan, is a leading player in the power infrastructure manufacturing segment, specialising in transformer components and engineering solutions for the electricity sector. The company designs and produces transformer laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. It also manufactures transformers ranging from single-phase 5 KVA to three-phase 10 MVA units and offers EPC services for setting up electrical substations.
The IPO, entirely a fresh issue, aims to raise ₹400 crore. The subscription window will open on August 20, 2025, and close on August 22, 2025, with anchor investor bidding on August 19, 2025. The basis of allotment is expected on August 25, refunds and equity credit on August 26, and listing on the stock exchanges on August 28, 2025.
At the upper end of the price band, the company’s estimated market capitalisation will stand at approximately ₹1,550 crore. Proceeds from the offering will be allocated towards repaying outstanding debt, funding capital expenditure—including the expansion of Unit IV in Reengus, Sikar District—and meeting additional working capital requirements. As of June 2025, the company carried total outstanding debt of ₹254.89 crore.
Mangal Electrical operates five advanced manufacturing facilities in Rajasthan with significant installed capacities, including 16,200 MT for CRGO, 10,22,500 KVA for transformers, 75,000 units for ICBs, and 2,400 MT for amorphous units. Its order book, as of June 2025, stood at ₹294.20 crore, reflecting robust demand from the power sector.
Financially, the company recorded FY25 revenue of ₹549.42 crore, up from ₹449.48 crore in FY24, marking over 22% growth. Net profit more than doubled to ₹47.30 crore from ₹20.94 crore in the previous year, highlighting improved operational efficiency and increased order execution.
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