Mangal Electrical IPO listing on Aug 28; here's what latest GMP hints at

Mangal Electrical IPO shares are set to list on the bourses on August 28. Check the latest Grey Market Premium (GMP) to get an indication of the possible listing price

Mangal Electrical IPO listing forecast: Shares of transformer components manufacturer Mangal Electrical Industries are scheduled to list on Dalal Street on Thursday, August 28, 2025.  The company, which specialises in transformer parts and related services, launched its initial public offering (IPO) last week and received a favourable response from investors. The issue was oversubscribed 9.46 times, reflecting moderate demand across investor categories.

 

Despite the solid subscription numbers, early indicators from the grey market suggest a subdued listing. Ahead of the official debut, Mangal Electrical’s unlisted shares were trading at around ₹578 apiece in the unofficial market. This implies a grey market premium (GMP) of ₹17, or about 3.03 per cent over the IPO issue price of ₹561 per share.

 

If these grey market trends hold, the stock may open with modest gains, potentially delivering around 3 percent returns to investors who were allotted shares. However, as the grey market operates outside the regulated financial system, these figures should be interpreted with caution and not treated as reliable forecasts of listing performance.

Mangal Electrical IPO details

The IPO comprised a fresh issue of 7.1 million equity shares. Shares were offered in a price band of ₹533 to ₹561, with a minimum application size of 26 shares. The subscription window remained open from August 20 to August 22, and the basis of allotment was finalised on August 25. The company fixed the issue price at ₹561 per share, the upper end of the band.

 

Systematix Corporate Services acted as the sole book-running lead manager, while Bigshare Services served as the registrar to the issue.

 

Mangal Electrical plans to use the proceeds from the IPO for multiple purposes. A portion will go toward the repayment or prepayment of certain outstanding borrowings, while funds will also be allocated to capital expenditure, including civil works to expand the company’s Unit IV facility in Reengus, located in Rajasthan’s Sikar district. Additional proceeds will support the company’s working capital requirements and be applied toward general corporate purposes.

About Mangal Electrical Industries

Mangal Electrical Industries specialises in processing transformer components, including transformer laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. The company also trades in CRGO and CRNO coils, as well as amorphous ribbons. Additionally, it manufactures transformers and customized products for the power infrastructure industry. The company’s transformer range spans from single-phase 5 KVA to three-phase 10 MVA units. Mangal Electrical Industries also offers EPC services for setting up electrical substations, serving the power sector.