Mangal Electrical Incorporated in 2008, Mangal Electrical Industries Limited is a leading manufacturer of power transformers used for electricity distribution and transmission in the power sector.🌐 Brand & Market Presence
Products are marketed under the brand name “Mangal Electrical”, which enjoys a strong reputation and high brand recall value in the power equipment sector.The company also trades in CRGO and CRNO coils and amorphous ribbons, alongside manufacturing a wide range of transformers (5 KVA to 10 MVA). In addition, it provides EPC services for setting up electrical substations across India’s power infrastructure network.
Profile: Jaipur-based manufacturer/processor of transformer components—CRGO slit coils, amorphous cores, transformer laminations, coil/core assemblies—and also engaged in transformer manufacturing and EPC services. mintS P Tulsian’s Investment AdviceSamcoZerodha
Facilities & Capacity: – Operates five plants in Rajasthan, with CRGO capacity of ~16,200 MT and transformer manufacturing capacity of ~10.2 lakh KVA. S P Tulsian’s Investment Advice
Anchor Investment – Raised ~₹120 crore (21.39 lakh shares at ₹561 each) from institutional investors including Abakkus, LC Pharos, Societe Generale, Sundaram AIF, etc. The Economic TimesmintICICI Direct
Subscription Trends – Day 1 (Aug 20): • Total: ~54% subscribed • Retail: ~70% • NII: ~72% • QIB: ~12% mintICICI DirectEconomic Times – Day 2 (Aug 21): • Total: ~1.98× (or 2×) subscription • Retail: ~2.08× • NII: ~4.2× • QIB: ~0.12–0.13× RediffmintMoneycontrolEconomic Times+1
Grey Market Premium (GMP) – Ranged between ₹21–32 per share, corresponding to a ~4%–6% premium above upper band, signaling modest immediate listing expectations. Estimated listing price ~₹586–593. Economic Times+1The Economic TimesMoneycontrolmint
Analyst Outlook
Positive Viewpoints: • SBI Securities recommended “Subscribe at cut-off” citing strong growth, high return ratios, and favorable sector trends. mint • IIFL, Anand Rathi, Canara Bank Securities, and several others issued ‘Buy’ / ‘Subscribe – Long Term’ recommendations, highlighting sector tailwinds and reasonable valuations. mint+2mint+2The Economic Times
Valuation Concerns: • While growth is robust, valuations are on the higher side—~15× FY25 earnings (as per Reddit commentary), but may be justified for a mid-cap with strong growth. Reddit
Risks:
Raw material price volatility (especially CRGO steel imports)
