Mangal Electrical's IPO: A Bright Future for Transformer Components
Mangal Electrical Industries is set to launch its Rs 400 crore IPO, offering shares priced between Rs 533 and Rs 561. The company, known for its transformer components, will use the proceeds to pay debts, expand its facility in Rajasthan, and support working capital needs. The IPO will be open from August 20 to 22.
- Country:
- India
Mangal Electrical Industries has announced the launch of its Initial Public Offering (IPO), setting a price range between Rs 533 to Rs 561 per share. The offering, valued at Rs 400 crore, will be available for public subscription from August 20 to 22.
Known for its high-quality transformer components, the company plans to use the IPO proceeds to pay off debts, expand its Rajasthan facility, and bolster working capital for general corporate purposes. This strategic move positions the company for further growth and development.
Mangal Electrical Industries serves both government discoms and private sector companies, exporting products to countries such as the USA and Italy. Systematix Corporate Services and Bigshare Services are managing the IPO process.
(With inputs from agencies.)
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