Mangal Electrical IPO posts negative start; shares list below issue price

Mangal Electrical IPO listing today, Mangal Electrical share price:  Shares of transformer components manufacturer Mangal Electrical Industries posted a lacklustre debut on the bourses today, August 28, 2025, following the completion of its initial public offering (IPO).

 

Mangal Electrical shares listed at ₹558 per share on the BSE, a discount of ₹3 per share or 0.53 per cent against the IPO issue price of ₹561 per share. On the National Stock Exchange (NSE), the company’s shares began trading at a discount of ₹5 per share, or 0.89 per cent lower, at ₹556 per share.

 

The listing of Mangal Electrical's IPO was largely in line with street expectations. Ahead of the official debut, its unlisted shares were trading at a discount of ₹3 per share, or 0.53 per cent below the issue price, according to sources tracking grey market activity.  ALSO READ | Anlon Healthcare IPO: Should you bid? Here's what analysts say

 

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Mangal Electrical IPO details

The public offering comprised a fresh issue of 7.1 million equity shares. The IPO was offered at 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.

 

Mangal Electrical received a favourable response from investors, with the issue being oversubscribed 9.46 times, as per NSE data. The basis of allotment was finalised on August 25, and the issue price was set at ₹561 per share — the upper end of the price band.

 

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

 

Systematix Corporate Services served as the sole book-running lead manager for the offering, while Bigshare Services acted as the registrar to the issue.  ALSO READ | Vikran Engineering IPO: Analysts suggest long-term buy; here's why

About Mangal Electrical Industries

Mangal Electrical Industries manufactures and supplies critical components for transformers, which are used in electricity transmission and distribution. Its product portfolio includes CRGO (Cold Rolled Grain Oriented) laminations, amorphous cores, ICBs (Immersed Circuit Breakers), and coils. These components are used in small transformers, distribution transformers, large transformers, and generators.

 

The company’s broad product basket—from CRGO laminations and amorphous cores to complete transformers and EPC services—positions it as a one-stop solution provider in the transformer value chain.