Mangal Electrical's Tepid IPO Debut Shocks Market

Mangal Electrical Industries Ltd's shares debuted on the market at a discount, listing slightly below the issue price. Despite the lukewarm start, the stock recovered and saw an increase in its price later in the day. The IPO, a fresh issue of shares, was oversubscribed and aimed to fund expansion and debt repayment.

Devdiscourse News Desk | New Delhi | Updated: 28-08-2025 10:45 IST | Created: 28-08-2025 10:45 IST

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Mangal Electrical Industries Ltd experienced a lukewarm debut on Thursday, with its shares listing at a slight discount against the issue price on both the BSE and NSE. Initially priced at Rs 561, the shares opened at Rs 558 on the BSE, later recovering to Rs 565.

The company, focused on manufacturing transformer components, saw its IPO oversubscribed 9.46 times by the closing day. The proceeds, totaling Rs 400 crore, are earmarked for debt repayment, facility expansion in Rajasthan, and supporting working capital.

Despite the initial setback, Mangal exports to countries including the Netherlands and the US, indicating its broader market reach beyond domestic clients like Voltamp Transformers Ltd. Its market valuation stands at Rs 1,554.33 crore.

(With inputs from agencies.)