The grey market premium (GMP) on the allotment day is at Rs 2 per share, indicating muted listing expectations around the issue price of Rs 561.
Subscription Details
The IPO, which opened on August 20 and closed on August 22, received strong demand and was subscribed 9.95 times overall. The Qualified Institutional Buyer (QIB) portion was subscribed 11.09 times, Non-Institutional Investors (NIIs) 19.78 times, while the Retail category was subscribed 5.09 times.The offer comprised a fresh issue of 71.3 lakh shares aggregating Rs 400 crore. The IPO was priced at Rs 561 per share.
Investors can check their allotment status using the following methods:
1. Registrar’s Website (Bigshare Services)
Visit Bigshare IPO Allotment page (https://ipo.bigshareonline.com/ipo_status.html)
Select Mangal Electrical Industries IPO from the dropdown.
Enter your PAN, application number, or DP/Client ID to view allotment status.
2. BSE Website
Go to BSE IPO Allotment page (https://www.bseindia.com/investors/appli_check.aspx)
Select Equity and then choose Mangal Electrical Industries
Enter your application number and PAN to check status.
Successful investors will see the credited shares in their demat accounts by August 26, while refunds for those who did not receive allotment will also be initiated the same day.
Company Background
Jaipur-based Mangal Electrical Industries is engaged in the manufacturing of transformers and transformer components, including CRGO slit coils, wound cores, coil assemblies, and oil-immersed circuit breakers. The company also provides EPC services for electrical substations.
It operates five production facilities in Rajasthan with annual installed capacities of 16,200 MT for CRGO, 10,22,500 KVA for transformers, and 2,400 MT for amorphous units.
For FY25, the company reported a 22% increase in revenue to Rs 551.39 crore and a 126% jump in profit after tax to Rs 47.31 crore.
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