Mangal Electrical Industries IPO
Mangal Electrical Industries Limited (MEIL) · mainboard IPO on NSE and BSE · Book Building. Listed on 28 August 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +3.6% (likely range -8% to +8%), day's high +11.6%, chance of a gain 50%. Actual: -0.9% at the open, +0.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 15,00,955 | 1,58,21,702 | 10.5x | |
| NII (HNI) total | 11,25,704 | 2,11,52,664 | 18.8x | |
| Big NII (above ₹10 lakh) | 7,50,470 | 1,42,95,476 | 19.0x | |
| Small NII (₹2-10 lakh) | 3,75,234 | 68,57,188 | 18.3x | |
| Retail | 26,26,642 | 1,27,00,272 | 4.84x | |
| Total | 52,53,301 | 4,96,74,638 | 9.46x |
Bids on NSE and BSE together, as published by NSE, as of 22 Aug 2025, 07:00 PM. Shares offered exclude the anchor portion. 20% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Mangal Electrical Industries's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| All Time PlasticsAug 2025 | 10.1x | 13.5x | 5.14x | 8.34x | ₹412 Cr | +13.2% | +18.2% |
| Concord Enviro SystemsDec 2024 | 17.3x | 14.2x | 5.56x | 10.7x | ₹497 Cr | +17.8% | +22.7% |
| Signatureglobal (India)Sep 2023 | 12.7x | 13.5x | 6.82x | 11.9x | ₹794 Cr | +15.3% | +23.1% |
| HPL Electric and PowerSep 2016 | 5.77x | 22.2x | 3.31x | 8.06x | ₹417 Cr | -5.9% | -2.0% |
| Future Supply Chain SolutionsDec 2017 | 12.4x | 11.2x | 3.28x | 7.56x | ₹650 Cr | 0.0% | +5.3% |
| PSP ProjectsMay 2017 | 8.38x | 10.4x | 6.47x | 8.58x | ₹212 Cr | -9.5% | -5.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Systematix Corporate Services | 11 | +11.4% | 45% |
Offer documents (NSE)
Frequently asked
What is the Mangal Electrical Industries IPO price band and lot size? ₹533–561 per share, with a lot of 26 shares, so the smallest retail bid is ₹14,586.
How many times has it been subscribed? 9.46x overall: QIB 10.5x, NII 18.8x, retail 4.84x.
How did it list? It opened at ₹556, -0.9% against the issue price of ₹561, and closed its first day -4.6%.
