Mangal Electrical IPO price band has been fixed in the range of ₹533 to ₹561 per equity share of the face value of ₹10. The Mangal Electrical IPO date of subscription is scheduled for Wednesday, August 20 and will close on Friday, August 22. The allocation to anchor investors for the Mangal Electrical IPO is scheduled to take place on Tuesday, August 19.
The floor price is 53.30 times the face value of the equity shares and the cap price is 56.10 times the face value of equity shares. The Mangal Electrical IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.
Mangal Electrical IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Mangal Electrical IPO basis of allotment of shares will be finalised on Monday, August 25 and the company will initiate refunds on Tuesday, August 26, while the shares will be credited to the demat account of allottees on the same day following refund. Mangal Electrical share price is likely to be listed on BSE and NSE on Thursday, August 28.
Mangal Electrical IPO details
Mangal Electrical IPO consists of a completely fresh issue amounting to ₹400 crore. When priced at the top end of the price range, the company’s market capitalization is projected to be about ₹1,550 crore.
The funds raised through this issue will be directed towards repaying debts, making capital investments—including construction work to expand Unit IV located in Reengus, Sikar District, Rajasthan, to maximize space and improve storage capabilities—and fulfilling working capital needs. As of June, the company had a total outstanding debt of ₹254.89 crore.
Systematix Corporate Services Ltd. serves as the lead manager for the book, while Bigshare Services Pvt. Ltd. is responsible for the issue’s registry.
