MV Electrosystems IPO 2026: GMP, Subscription Status, Review, Price Band, Lot Size & Allotment Date

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MV Electrosystems Limited IPO
Railway Rolling Stock · Propulsion Systems · Switchgear · Electrical Components
📋 Mainline IPO Fresh Issue Only NSE, BSE
₹425
Upper Price
₹290.00 Cr
Issue Size
Aug 6, 2026
Listing Date
₹869.52 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Thursday, 30 July 2026
Bidding starts — apply before close
🔒
IPO Closes
Monday, 3 August 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Tuesday, 4 August 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Wednesday, 5 August 2026
Unallotted funds returned; shares credited to demat
🏷️
Thursday, 6 August 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date30 July 2026 (Thu)
IPO Close Date3 August 2026 (Mon)
Listing Date6 August 2026 (Thu)
Face Value₹5 per share
Price Band₹400 to ₹425
Issue Price (Upper Band)₹425 per share
Issue TypeBook Build — Fresh Issue Only
Lot Size34 shares
Total Issue Size68,23,528 shares (₹290.00 Cr)
Fresh Issue68,23,528 shares (₹290.00 Cr)
Offer for Sale (OFS)0 shares (₹0 Cr)
Pre-Issue Shares2,04,59,200
Post-Issue Shares2,72,82,728
Promoter Holding (Pre)76.92%
Market Cap (Pre-IPO)₹869.52 Cr
Listing ExchangeNSE, BSE
Lead ManagerSundae Capital Advisors
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹425
Investor TypeLotsSharesAmount
Retail — Minimum134₹14,450
Retail — Maximum13442₹1,87,850
S-HNI (sNII) — Min14476₹2,02,300
S-HNI (sNII) — Max692,346₹9,97,050
B-HNI (bNII) — Min702,380₹10,11,500
⚠️ Note: Investors can bid for a minimum of 34 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net Offer
Not less than 75%
QIB Portion
Not more than 10%
Retail Portion
Not more than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore
Metric31 Mar 202631 Mar 202531 Mar 2024
Total Assets145.7474.1265.58
Total Income49.7964.6450.57
PAT-12.631.400.56
EBITDA-9.948.926.41
Net Worth62.5717.9116.53
Total Borrowing49.8927.5027.59
Income Growth
FY 2023–24₹50.57 Cr
FY 2024–25₹64.64 Cr
FY 2025–26₹49.79 Cr
🎯 Key Performance Indicators
-31.55%
ROE
FY 2025–26
0.80
Debt/Equity
FY 2025–26
-17.69%
ROCE
FY 2025–26
-25.36%
PAT Margin
FY 2025–26
-19.97%
EBITDA Margin
FY 2025–26
-20.29%
RoNW
FY 2025–26
13.90x
Price/Book
FY 2025–26
₹921.64 Cr
Order Book
As of Jun 2026
⚖️ Valuation & EPS
Pre-IPO EPS
-₹6.17
FY26 earnings + pre-issue shares
P/E: N/A
Post-IPO EPS
Negative
FY26 earnings + post-issue shares
P/E: N/A
Price to Book Value
13.90x
At upper price band ₹425
Market Cap (Pre-IPO)
₹869.52 Cr
At issue price ₹425
ℹ️ Pre-IPO EPS (-₹6.17) is calculated on negative earnings against pre-issue shares (2,04,59,200). Valuation matrices (P/E) are rendered Not Applicable due to reported bottom-line inconsistencies for FY26. Post-IPO Market Cap expands to ₹1,159.52 Cr following the fresh equity issuance of 68,23,528 shares.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding long-term working capital requirements of the Company
₹180.00 Cr
2
Investment in research design and development activities for new power electronic equipment
₹21.00 Cr
3
General corporate purpose
Balance
Total Net Proceeds Goal ₹290.00 Cr
🏢 About MV Electrosystems Ltd.
Est. 2009 · Faridabad, Haryana · Railway Electronics

MV Electrosystems Ltd., incorporated in 2009, is an engineering and systems-design focused enterprise specializing in complex power electronics used exclusively in railway rolling stock. Operating within India’s massive rail infrastructure transition, the firm plays a crucial role in broad-gauge electrification and Make-in-India procurement mandates, designing mission-critical IGBT-based 3-Phase Drive Propulsion equipment for electric locomotives.

Anchored by its centralized Research, Design & Development Centre in Faridabad, MV Electrosystems maintains strict production and quality-testing protocols. The firm delivers extensive switchgear panels for EMUs, highly engineered cable protection management products, and sub-system electrical components designed for precision safety. Deeply integrated with Indian Railways, the company leverages high entry barriers to sustain a robust forward order book scaling ₹921.64 crores.

Brand Ecosystem
🚄
Locomotive Propulsion
Advanced IGBT based 3-Phase Drive equipment engineered for heavy electric engines
⚡
Railway Switchgears
Complex switchgear panels optimized for passenger coaches and EMU rolling stock
🔌
Cable Management
High-grade cable protection systems ensuring safety compliance and connectivity
🔬
In-house R&D Backbone
Dedicated facility pushing innovation across precision power electronics
Competitive Strengths
⚙️Systems design focus utilizing extensive in-house research to deliver complex railway technology
🛡️Safety-critical capabilities establish extremely high industry barriers restricting new entrants
🤝Deep, institutionalized relationships supporting Indian Railways modernization programs
📜Forward revenue visibility secured by a formidable ₹921.64 crore outstanding order book
Company Promoters
AD
Amit Dhawan
Promoter, MV Electrosystems Ltd.
MV
Mohit Vohra
Promoter, MV Electrosystems Ltd.
RD
Rahul Dhawan
Promoter, MV Electrosystems Ltd.
📅 Key Dates
IPO Opens30 Jul 2026
IPO Closes03 Aug 2026
Allotment04 Aug 2026
Refund & Share Credit05 Aug 2026
Listing Day06 Aug 2026
💡 Quick Summary
Price Band₹400 – ₹425
Upper Price₹425 / share
Lot Size34 shares
Min. Investment (Retail)₹14,450
Issue Size₹290.00 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Registrar
Kfin Technologies Ltd.
📞 040-79615565
[email protected]
Lead Manager
Sundae Capital Advisors Pvt.Ltd.
📍 Registered Address
MV Electrosystems Ltd.
Plot No. 7, Site No 2, 14/3,
Mathura Road, Faridabad,
Haryana — 121003
📞 +91 92 1199 9711
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the MV Electrosystems IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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