Mumbai (Maharashtra) [India], August 19: Mangal Electrical Industries Limited (The Company, MEL) engaged in the processing of transformer components such as Cold-Rolled Grain Oriented (CRGO) steel, Amorphous materials, and Integrated Circuit Breakers (ICB), alongside manufacturing transformers and providing comprehensive EPC services, proposes to open its Initial Public Offering on Wednesday, August 20, 2025, aiming to raise ₹ 400 Crore (At Upper Price Band), with shares to be listed on the BSE & NSE platform.

The issue size is 71,30,124 equity shares at a face value of ₹ 10 each with a price band of ₹ 533 – ₹561 Per Share.

Anchor Investor Participation

The Company successfully closed its Anchor Book on August 19, 2025, raising ₹120 Crore. The anchor portion witnessed participation from several institutional investors, including Abakkus AIF, Sundaram AIF, Miras Investments (LC Pharos Multi Strategy Fund), LMR Partners (Societe Generale – ODI), and Finavenue Growth Fund, among others.

Equity Share Allocation

• Qualified Institutional Buyer – Not More Than 50% Of the Issue
• Non-Institutional Investors – Not Less Than 15% Of the Issue
• Retail Individual Investors – Not Less Than 35% Of the Issue

The net proceeds from the IPO will be utilized for Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company, Capital expenditure including civil works of the Company for expanding the facility at Unit IV situated at Reengus Sikar District, Rajasthan, Funding working capital requirements and for general corporate purposes. The anchor portion will open on August 19, 2025 and issue will close on August 22, 2025.

The Book Running Lead Manager to the Issue is Systematix Corporate Services Limited, The Registrar to the Issue is Bigshare Services Private Limited.

Mr. Rahul Mangal, Chairman and Managing Director of Mangal Electrical Industries Limited expressed “Our journey has been built on a strong foundation of precision manufacturing and a diversified portfolio in transformer components, transformer manufacturing, and EPC solutions. The proposed public issue will enable us to strengthen our balance sheet by reducing debt, support the expansion of our Unit IV facility at Reengus, and enhance working capital availability. These steps are aligned with our focus on operational efficiency, timely execution, and sustainable growth. We remain committed to delivering reliable products and solutions to the power infrastructure sector while steadily expanding our capabilities.”

Mr. Nikhil Khandelwal, Chairman and Managing Director of Systematix Corporate Services Limited said, “We are glad to partner with Mangal Electrical Industries Limited in its IPO journey. Over the years, the Company has demonstrated capabilities in transformer components, transformer manufacturing, and EPC solutions, supported by advanced manufacturing facilities and global approvals.

The IPO will enable the Company to enhance capacity, improve operational efficiencies, and scale its presence further in the rapidly growing power infrastructure sector.”

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