Mangal Electrical IPO Day 1 Live: The initial public offering (IPO) for Mangal Electrical Industries, a manufacturer of transformer components, will be available for public subscription from August 20 to August 22. Mangal Electrical IPO price band has been set between ₹533 and ₹561 per share.
Mangal Electrical IPO consists entirely of a fresh share issue valued at ₹400 crore. The funds raised from this fresh issue will be utilized to settle debts, enhance the company’s facility located in Rajasthan, and cover working capital needs for various general corporate purposes.
Mangal Electrical Industries specializes in processing transformer components, including transformer lamination, amorphous cores, coil assemblies, core assemblies, wound cores, toroidal cores, and oil-immersed circuit breakers.
The company’s clientele includes government electricity distribution companies as well as private firms such as Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd, and Western Electrotrans. It has also exported its transformer components to countries including the Netherlands, the United Arab Emirates, Oman, the USA, Italy, and Nepal.
Systematix Corporate Services acts as the sole book-running lead manager, while Bigshare Services serves as the registrar for this issue.
(Stay tuned for more updates)
