Mangal Electrical Industries’ ₹400-cr IPO to open on Aug 20

Transformer components manufacturer Mangal Electrical Industries on Thursday fixed a price band of ₹533 to ₹561 per share for its upcoming ₹400 crore Initial Public Offering (IPO).

The IPO — entirely a fresh issue of shares — will open for public subscription on August 20 and conclude on August 22, the company announced.

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.

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.

Published on August 14, 2025