Mangal Electrical IPO will open on August 20: Check price band, issuance scale, key details
The IPO of Transformer component maker Mangal Electrical Industries will open on August 20 and end on August 22. The company set the price band at Rs 533 to Rs 561 per share.
Mangal Electrical Industries IPO details
A Rs 4 billion worth of IPO is a brand new stock problem. It will open on August 20 and close on August 22, the company said in a statement.
BRLM, Registrar details
Systematix Corporate Services is the only bookkeeping chief manager for the issue, and BigShare Services is the registrar.
Mangal Electrical Industries IPO: Fund Utilization Rate
The benefits of this problem will be used to:
- Repayment
- Expand the company’s manufacturing plant in Rajasthan
- Working capital requirements
- General company purpose
Mangal Electrical Industries produces and handles a variety of transformer components, including:
- Transformer lamination
- Amorphous core
- Coil and core components
- Wound and annular core
- Circuit breaker for oil peeling
The company provides it to government distribution companies and private sector clients. Major clients include Ajmer Vidyut Vitran Nigam Ltd, Jaipur Vidyut Vitran Nigam Ltd, Voltamp Transformers Ltd and Western Electrotrans.
In addition, the company has exported transformer components to several international markets including the Netherlands, the UAE, Oman, the United States, Italy and Nepal.
