Mangal Electrical Industries has raised ₹120 crore from anchor investors ahead of its initial public offering (IPO). The company informed the exchanges today that it allocated 21,39,020 equity shares at ₹561 per share on Tuesday, August 19, 2025, to anchor investors.
Some of the marquee institutions that participated in the anchor book include Abakkus Diversified Alpha Fund, LC Pharos Multi Strategy Fund VCC, Société Générale, Finavenue Capital Trust, Swyom India Alpha Fund, Sundaram Alternative Investment Trust, Imap India Capital Investment Trust, Sunrise Investment Trust, Aarth AIF Growth Fund, and Steptrade Revolution Fund.
Systematix Corporate Services Limited is the sole book-running lead manager, while Bigshare Services Private Limited is the registrar to the issue.
Issue Details
The IPO opens for subscription tomorrow (Wednesday, August 20), with the price band fixed at ₹533– ₹561 per equity share. The company aims to raise ₹400 crore entirely through a fresh issue of 0.71 crore shares.
The allotment of shares is expected to be finalized on August 25, 2025. Retail investors can apply for a minimum of 26 shares, requiring an investment of ₹14,586, and a maximum of 13 lots, requiring ₹1,89,618. The IPO will be listed on the BSE and NSE, with a tentative listing date of August 28, 2025.
The company proposes to utilize the net proceeds from the issue for repayment/prepayment (in full or in part) of certain outstanding borrowings, capital expenditure (including civil works for expanding its Unit IV facility at Reengus, Sikar District, Rajasthan), funding working capital requirements, and general corporate purposes.
About the company
Incorporated in 2008, Mangal Electrical Industries Limited is engaged in manufacturing transformers used for the distribution and transmission of electricity in the power sector.
The company also manufactures transformer components, including laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers.
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