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Mangal Electrical IPO: Transformer components maker Mangal Electrical Industries launched its initial public offering (IPO) on August 20, with the subscription window closing on August 22. The company has announced a price band of Rs 533–561 per share.

The public issue is valued at Rs 400 crore and will comprise a fresh issue of equity shares only.

Funds raised through the issue are planned to be utilised for:

Mangal Electrical IPO: BRLMs, registrar

Systematix Corporate Services will serve as the sole book-running lead manager for the IPO, while Bigshare Services has been appointed as the registrar.

Mangal Electrical's business overview

Mangal Electrical Industries manufactures and processes a wide portfolio of transformer components, including transformer laminations, amorphous cores, coil and core assemblies, and oil-immersed circuit breakers.

The company caters to both state power distribution companies and private enterprises, with major clients including Ajmer Vidyut Vitran, Jaipur Vidyut Vitran Nigam, Voltamp Transformers, and Western Electrotrans. Moreover, the company has an international footprint, having exported its products to markets such as the Netherlands, UAE, Oman, USA, Italy, and Nepal.

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