Mangal Electrical Industries Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹561
Per ShareLot Size
26 Shares
Minimum Investment
₹14,586
Issue Size
₹400 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Mangal Electrical Industries Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
74.19%
Issue Type
Book Building
ISIN
INE0PKD01011
About the Company
We specialize 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. We also trade in CRGO and CRNO coils and amorphous ribbons. Additionally, we manufacture transformers and customized products for the power infrastructure industry. Our transformer range spans from single-phase 5 KVA to three-phase 10 MVA units. We also offer EPC services for setting up electrical substations, serving the power sector. As of June 30, 2025, our Company had a total order book value of Rs. 29,419.78 lakhs.
Industry Overview
The Indian transformer industry is experiencing robust growth, driven by factors such as rapid urbanization, industrialization, and increasing demand for electricity. The estimated market size for Financial Year 2025 is Rs. 353.9 billion, indicating a significant expansion in recent years. The increase in renewable contribution, particularly between Financial Year 2022 and Financial Year 2025, signifies the country's strategic push toward decarbonization and its efforts to reduce reliance on fossil fuels while fostering sustainable development through solar, wind, and other green energy sources. To support the projected energy demand of 1,907 billion units (BU) in Financial Year 2027 and 2,472 BU in Financial Year 2032 and the expected increase in peak electricity demand from 250 gigawatts (GW) in Financial Year 2025 to 277 GW in Financial Year 2027 and 366 GW in Financial Year 2032, the power transmission and distribution network will need to be strengthened and expanded with significant augmentation of the distribution infrastructure. Government schemes like Deen Dayal Upadhyaya Gram Jyoti Yojana, Integrated Power Development Scheme, Revamped Distribution Sector Scheme, National Grid: One Nation - One Grid, Green Energy Corridor also provides a positive outlook for Transformer industry.
Company History
Our Company was originally formed as a partnership firm constituted under the Indian Partnership Act, 1932 on April 28, 1989 under the name and the style of "Mangal Electrical Industries". Thereafter, the partnership firm was converted into a private limited company under Part IX of the Companies Act, 1956 as `Mangal Electrical Industries Private Limited' and a fresh certificate of incorporation dated April 1, 2008 issued by the RoC. Thereafter, our Company was converted into public limited company pursuant to shareholder's resolution dated May 16, 2024, consequent to which the name of our Company was changed to Mangal Electrical Industries Limited, and a fresh certificate of incorporation dated July 25, 2024 was issued by the RoC.
Products & Services
- The Company 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.
Growth Strategy
- Expand manufacturing capacity at our existing facilities.
- Enhancement of our capacity by qualifying for 765 kV class approval issued by PGCIL.
- Establishing collaboration with CRGO mill suppliers.
- Expanding our existing product portfolios.
- Grow our customer base by diversifying into new geographies and maintain relationships with our key customers and other stakeholder.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 71,30,124 equity shares of face value of Rs. 10/- each ("Equity Shares") of Mangal Electrical Industries Limited (the "Company" or the "Issuer") for cash at a price of Rs. 561/- per equity share, including a share premium of Rs. 551/- per equity share (the "Issue Price") aggregating up to Rs. 400.00 crores (the "Issue"). The issue shall constitute 25.81% of the post-issue paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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.
- The costs of the raw materials that we use in our manufacturing process are subject to volatility due to factors beyond our control. Increases or fluctuations in raw material prices may have a material adverse effect on our business, financial condition, results of operations and cash flows.
- We are heavily dependent on the performance of the CRGO products and transformer product component. Any adverse changes in the conditions affecting the CRGO products and transformer products market can adversely impact our business, financial condition, results of operations, cash flows and prospects.
- Any disruption, breakdown or shutdown of our manufacturing facilities or our original equipment manufacturer suppliers may have a material adverse effect on our business, financial condition, results of operations and cash flows.
- We do not have any direct hedging policy in place for mitigating raw material price fluctuations, particularly for CRGO and CRNO coils, which may adversely impact our business, financial condition, results of operations, and cash flows.
- Our dependence on limited customers and any change in customer composition may adversely impact our business, financial condition, results of operations, and cash flows.