Mangal Electrical Industries' IPO: A Power Surge for Transformer Market

Mangal Electrical Industries raised Rs 120 crore from anchor investors prior to its Rs 400 crore IPO opening. The funds will repay debt, expand facilities, and address working capital needs. Major investors include Abakkus Diversified Alpha Funds and Societe Generale. The IPO spans August 20-22 with a price band of Rs 533-561.

Devdiscourse News Desk | New Delhi | Updated: 19-08-2025 18:37 IST | Created: 19-08-2025 18:37 IST

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Mangal Electrical Industries, a major name in transformer components manufacturing, successfully mobilized Rs 120 crore from anchor investors. This financial achievement comes just before the company's much-anticipated IPO, aimed at raising Rs 400 crore.

Prominent institutional investors like Abakkus Diversified Alpha Funds, LC Pharos Multi Strategy Fund VCC, and Societe Generale partook in this significant financial event. A circular on the BSE's website outlined that 21.39 lakh equity shares were distributed at Rs 561 each, summing up to Rs 120 crore.

Scheduled for public subscription between August 20-22, the IPO is entirely a fresh issue of shares, with a price range set between Rs 533 and Rs 561. Funds raised are earmarked for debt clearance, expansion in Rajasthan, and general corporate expenditures.

(With inputs from agencies.)