Mangal Electrical's IPO oversubscribed 9.46x! Key details
Mangal Electrical Industries's IPO just wrapped up with huge demand—oversubscribed 9.46 times!
The shares were offered from August 20-22 at ₹533-₹561 each, aiming to raise funds for repayment of certain borrowings, capital expenditure for facility expansion, working capital, and general corporate purposes.
Mangal Electrical specializes in manufacturing, trading, and EPC projects
Started in 2008, Mangal Electrical builds transformers (from small 5 KVA units to massive 10 MVA ones), trades key electrical materials like CRGO/CRNO coils and amorphous ribbons, and handles EPC projects for substations.
They're certified by NABL, PGCIL, and ISO.
Share allotment, refunds, and listing details
Share allotment was finalized on August 25; refunds and share credits go out August 26. Listing is set for August 28 on both BSE and NSE.
The IPO saw especially strong interest from non-institutional investors (18.79x), QIBs (10.54x), and retail buyers (4.84x).
In total, ₹400 crore was raised through a fresh issue of over 71 lakh shares—serving clients across India and abroad.