Mangal Electrical Industries Share Price: Muted Stock Market Debut on NSE & BSE

Market Performance

The stock market today witnessed the debut of Mangal Electrical Industries Ltd, but the listing turned out to be a muted affair. The company’s shares opened slightly below their IPO issue price.

• On NSE, the shares listed at ₹556, marking a 0.89% discount from the issue price of ₹561.
• On BSE, the debut was at ₹558, down 0.50% from the IPO price.

Despite the strong subscription in the IPO phase, the listing day did not mirror the same enthusiasm.

Investor Demand & IPO Subscription Story

Before the listing, Mangal Electrical Industries IPO had drawn significant investor attention. The overall subscription stood at 9.95 times—a strong response across categories.

Here’s the breakdown:

• Retail Investors: Oversubscribed 5.09 times
• Non-Institutional Investors (NIIs): Heavy demand with 19.78 times subscription
• Qualified Institutional Buyers (QIBs): Fully subscribed at 11.09 times

In total, the IPO received 4.96 crore bids against the 49.91 lakh shares on offer.

IPO Details & Utilisation of Funds

The IPO was a ₹400-crore public issue, entirely a fresh issue of 0.71 crore equity shares.

The company has earmarked the proceeds for multiple purposes:

• Debt Repayment/Prepayment: Reducing existing borrowings
• Capital Expenditure: Supporting expansion of Unit IV manufacturing facility at Reengus, Sikar district, Rajasthan
• Working Capital Requirements
• General Corporate Needs

The IPO had a price band of ₹533–₹561 per share. The minimum lot size was 26 equity shares, translating into a retail investment of ₹13,858.

Systematix Corporate Services Ltd acted as the book-running lead manager, while Bigshare Services Pvt. Ltd handled registrar duties.

Company Profile: Mangal Electrical Industries Ltd

Founded in 2008 and later converted into a public company in 2024, Mangal Electrical Industries Ltd is headquartered in Jaipur, Rajasthan. The company plays a key role in the power equipment and transformer industry.

Business & Product Portfolio

Mangal Electrical manufactures and supplies a wide range of products:

• Transformer components
• Complete transformers
• EPC substation solutions
• Laminations, CRGO slit coils, amorphous cores, wound & toroidal cores
• Coil-core assemblies
• Oil-immersed circuit breakers

The company also undertakes turnkey EPC projects for electrical substations, strengthening its presence across the value chain.

Financial Performance Snapshot

Mangal Electrical has shown consistent growth over recent years:

• Revenue:
  • ₹315.80 crore in FY23
  • ₹551.39 crore in FY25
• Profit After Tax (PAT):
  • ₹17.55 crore in FY23
  • ₹47.31 crore in FY25

The steady jump in both top-line and bottom-line performance highlights the company’s expanding scale of operations and improving financial strength.

Summary

• Mangal Electrical Industries share price listed at ₹556 on NSE and ₹558 on BSE, slightly below the IPO issue price of ₹561.
• The IPO was subscribed 9.95 times, with strong demand from retail and institutional investors.
• Funds raised (₹400 crore) will go towards debt reduction, expansion of Unit IV at Reengus, working capital, and general corporate purposes.
• Founded in 2008, the Jaipur-based company has grown into a key player in the transformer and EPC substation space.
• Financials show robust growth, with revenue rising from ₹315.80 crore in FY23 to ₹551.39 crore in FY25 and PAT increasing from ₹17.55 crore to ₹47.31 crore in the same period.