Mangal Electrical IPO listed on the market on Thursday, August 28, 2025, but the shares opened below the issue price. It listed at ₹558 on the BSE and ₹556 on the NSE, while the issue price was fixed at ₹561. The IPO received a good response from investors and was oversubscribed by more than 10 times.
Mangal Electrical IPO: Mangal Electrical Industries, a transformer component manufacturing company, made its debut on the stock market with its Initial Public Offer (IPO) on Thursday, August 28, 2025. The company's shares listed at ₹558 per share on the BSE and ₹556 on the NSE, which is below the issue price of ₹561. This listing was in line with grey market expectations, where the shares were already trading at a slight discount. The company's IPO was open from August 20 to 22 and received over 10 times subscription from investors.
Listing Below Issue Price
The company's shares listed on the BSE at ₹558, a decrease of ₹3 or about 0.53 percent. On the National Stock Exchange, it opened at ₹556, a decrease of ₹5 or about 0.89 percent. Market experts say that this listing was largely in line with expectations as the shares were already trading at a discount in the grey market. In the non-listed market, Mangal Electrical's share was seen trading at about ₹3 below the issue price.
Good Response to the IPO
Regarding the subscription of the IPO, investors showed considerable enthusiasm. Mangal Electrical's public issue opened on August 20 and ran until August 22. During this time, it received a subscription of more than 10 times. According to data from the National Stock Exchange, the company offered 49,91,105 shares, while applications were received for 4,96,69,802 shares. This clearly shows that investors have confidence in the company's business model.
Offer Structure
Mangal Electrical's IPO was entirely a fresh issue. A total of 71 lakh equity shares were issued. This issue did not include any Offer For Sale (OFS) component. The company reserved more than 50 percent of this offer for Qualified Institutional Buyers. About 35 percent was reserved for retail investors and 15 percent for Non-Institutional Investors.
Price Band and Lot Size
The company had fixed the price band of the IPO at ₹533 to ₹561 per share. The lot size was kept at 26 shares. That is, any investor had to apply for a minimum of 26 shares. There was considerable discussion about the issue in the market and many major brokerage houses also released their reports on it.
Company's Business Model
Mangal Electrical Industries operates in the field of manufacturing transformer components. The company's main focus is to meet the needs of the power sector. Given the increasing electricity consumption and infrastructure expansion in India, the company's business is considered to be full of possibilities in the future. This is the reason why investors participated in it enthusiastically during the subscription.
Grey Market Indications
Even before the listing, the activities of the grey market had indicated that no major increase in the share price would be seen. In the grey market, this share was trading at about ₹3 below the issue price. Therefore, the direction of the listing was already considered weak.
