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Mangal Electrical IPO GMP: The initial public offering of transformer components manufacturer Mangal Electrical Industries Ltd is going to be closed today, Friday, August 22. The price of the Rs 400-crore IPO has been fixed in the range of Rs 533 to Rs 561 per share. Till 12:15 pm on the last day of bidding on Friday, the issue received a 3.22x subscription, garnering bids for 1,60,54,454 shares as against the 49,91,105 shares on offer.
Mangal Electrical IPO Last Day: Issue Gets 3.2x Subscription So Far; Should You Subscribe? Check GMP
Mangal Electrical IPO GMP: The initial public offering of transformer components manufacturer Mangal Electrical Industries Ltd is going to be closed today, Friday, August 22. The price of the Rs 400-crore IPO has been fixed in the range of Rs 533 to Rs 561 per share. Till 12:15 pm on the last day of bidding on Friday, the issue received a 3.22x subscription, garnering bids for 1,60,54,454 shares as against the 49,91,105 shares on offer.
The retail and NII participation stood at 3.16x and 7.45x, respectively. The QIB category was subscribed by 0.15x.
The IPO's grey market premium on Wednesday stood at 5.35%, indicating a weak market debut.
Mangal Electrical IPO Price And Lot Size
The price band of the IPO has been fixed in the range of Rs 533 to Rs 561 per share.
For investors, the minimum lot size for the IPO is 26. It means investors will have to apply for a minimum of 26 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 13,858 to apply for the IPO.
Mangal Electrical IPO Key Dates
The IPO will remain open for public subscription between August 20, 2025, and August 22, 2025. The share allotment will likely be finalised on August 25, and the company is expected to be listed on both BSE and NSE on August 28.
Mangal Electrical IPO GMP Today
According to market observers, unlisted shares of Mangal Electrical Ltd are currently trading at Rs 591 against the upper IPO price of Rs 561. It means a grey market premium or GMP of Rs 30, which is 5.35% over its issue price, indicating a weak listing for the issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium' indicates investors' readiness to pay more than the issue price.
Mangal Electrical IPO: Should You Apply?
Brokerages have largely recommended subscribing to the Mangal Electrical IPO, with a focus on long-term investment prospects.
Analysts at Anand Rathi Research advised subscribing for the long term, though they noted that the issue appears fully priced. At the upper end of the price band, the company is valued at a FY25 P/E of 32.8 times, with a post-issue market capitalisation of Rs 1,550 crore. “In recent years, India's substation capacity has grown significantly, driven by rising electricity demand, creating a favourable environment for transformer manufacturing with consistent demand supporting production planning and operational efficiency," the brokerage wrote in its IPO note.
Canara Bank Securities also recommended subscribing for the long term, pointing out that valuations appear reasonable at a P/E of 24.3 times compared with the peer average of 26 times. “We recommend subscribing for long-term gains, though margins remain vulnerable to raw material price volatility, as seen in FY24 when costs rose by 21 per cent," its analysts said.
Meanwhile, Ventura Securities assigned a simple ‘Subscribe' rating, highlighting Mangal Electrical's efforts to improve production efficiency, capacity utilisation and geographical diversification. “Additionally, its strategic focus on quality, technological investments, and strong customer relationships provides a solid foundation for continued growth, particularly with the increasing demand in the power infrastructure and renewable energy sectors," the brokerage said.
Mangal Electrical IPO: More Info
The IPO — entirely a fresh issue of shares worth Rs 400 crore — will open for public subscription on August 20 and conclude on August 22. The price band has been fixed at Rs 533 to Rs 561 per share.
Proceeds from the fresh issue will be used to pay debt, expand the company's facility situated in Rajasthan, and support working capital requirements for general corporate purposes.
Mangal Electrical Industries is a processor of transformer components, transformer lamination, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers.
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The company's customers include government discoms and private companies such as Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd and Western Electrotrans. It has exported its transformer components to the Netherlands, United Arab Emirates, Oman, USA, Italy and Nepal.
Systematix Corporate Services is the sole book-running lead manager, and Bigshare Services is the registrar of the issue.
Source: News18
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