Mangal Electrical Industries: 10 Lakh Shares Unlock as Stock Dips 24%
Mangal Electrical Industries is set to unlock 10 lakh shares on Monday, November 24, as the stock continues to struggle, down 24% from its IPO price. The company, backed by marquee investors like Sunil Singhania, had a lackluster market debut.
Mangal Electrical IndustriesIpoShareholder LockinSunil SinghaniaReal EstateReal EstateNov 23, 2025
The company's market debut was less than impressive, with shares listed at a discount of nearly 1% over the issue price of Rs 561. On the BSE, the shares were listed at Rs 558, and on the NSE, they were listed at Rs 556. Since its listing on August 25, the stock has plunged 24% to Rs 427.05.
Mangal Electrical Industries raised Rs 120 crore from 10 anchor allotments, which include marquee names like Abakkus Diversified Alpha Fund, backed by Abakkus Asset Manager founder Sunil Singhania. Around 31.7% of the anchor portion was allocated to the fund at the upper price band of Rs 561. Societe Generale was another significant investor in the issue.
In the September quarter, the company reported a 7% fall in net profit to Rs 13 crore, compared to Rs 14 crore in the year-ago period. However, the total revenue increased by 17% to Rs 156 crore, up from Rs 133 crore in the previous year. SBI Securities had recommended a 'Subscribe' view on the issue, highlighting the company's wide product basket and its position as a one-stop solution provider in the transformer value chain.
The company's products, including CRGO (Cold Rolled Gran Oriented) laminations, amorphous cores, ICBs (Immersed Circuit Breaker), and coils, are integral to small, distribution, and large transformers and generators. This diverse product range positions Mangal Electrical Industries as a key player in the transformer industry.
Despite the initial struggles, the company's strategic positioning and robust product offerings suggest a potential for long-term growth. Investors will be closely watching the market's reaction to the unlocking of shares and the company's performance in the coming quarters.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Frequently Asked Questions
What is the current stock price of Mangal Electrical Industries?
As of the latest data, the stock price of Mangal Electrical Industries is Rs 427.05, which is down 24% from its IPO price of Rs 561.
How many shares are unlocking on November 24?
On November 24, approximately 10 lakh shares, accounting for 4% of the total outstanding shares, are set to unlock and become eligible for sale.
Who are the major investors in Mangal Electrical Industries?
Major investors in Mangal Electrical Industries include Abakkus Diversified Alpha Fund, backed by Abakkus Asset Manager founder Sunil Singhania, and Societe Generale.
What is Mangal Electrical Industries' product range?
Mangal Electrical Industries manufactures a wide range of products, including CRGO laminations, amorphous cores, ICBs (Immersed Circuit Breaker), and coils, which are used in transformers and generators.
What was Mangal Electrical Industries' financial performance in the September quarter?
In the September quarter, Mangal Electrical Industries reported a 7% fall in net profit to Rs 13 crore, compared to Rs 14 crore in the previous year, while total revenue increased by 17% to Rs 156 crore.
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