Mangal Electrical Industries Ltd, a growing player engaged in the processing of transformer components such as Cold-Rolled Grain Oriented (CRGO) steel, Amorphous materials, and Integrated Circuit Breakers (ICB), alongside manufacturing transformers and providing comprehensive EPC services, has announced the successful closure of Anchor Book of Mangal Electrical Industries Limited. The anchor portion of ₹120 Crs witnessed an overwhelming response with bids of more than 2.5x.
The Anchor Book was subscribed by several marquee investors, including Abakkus AIF,
Sundaram AIF, Miras Investments (LC Pharos Multi Strategy Fund), LMR Partners (Societe Generale – ODI) and Finavenue Growth Fund, amongst several other marquee
domestic and foreign institutions.
The company got a “Subscribe” rating from IIFL Capital Services Ltd., and the company
further added, “Considering that it is one of the leading players in power infrastructure
sector in processing of transformer components and manufacturing of transformers, has
a diversified customer base, has strong backward and forward integration which ensures operational efficiency, has a proven track record of consistent growth, plans of expanding manufacturing capacity at its existing facilities and expanding existing product portfolio, we recommend subscribe to the issue.”