MV Electrosystems IPO
Bookbuilding IPO | ₹290.00 Cr | Listing at BSE, NSE
IPO Open
Thu, Jul 30, 2026
IPO Close
Mon, Aug 03, 2026
Price Band
₹400.00 to ₹425.00
Market Cap (Pre-IPO)
₹1,159.52 Cr
IPO Details
| IPO Date | Jul 30, 2026 to Aug 03, 2026 |
| Listing Date | Tentative: Aug 06, 2026 |
| Face Value | ₹5.00 per share |
| Price Band | ₹400.00 to ₹425.00 |
| Lot Size | 34 Shares (Minimum: ₹14,450.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹290.00 Crores |
| Total Shares Offered | 6,823,528 shares |
| Fresh Issue | 6,823,528 shares |
| Offer For Sale | 6,823,528 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 96.13x |
| NII | 397.99x |
| RII | 218.25x |
| Total | 200.66x |
MV Electrosystems IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 75.00 |
| Retail Shares Offered | 10.00 |
| NII Shares Offered | 15.00 |
MV Electrosystems IPO Lot Size
Investors can bid for a minimum of 34 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,450 |
| Retail (Max) | 13 | 442 | ₹187,850 |
| S-HNI (Min) | 14 | 476 | ₹202,300 |
| S-HNI (Max) | 69 | 2,346 | ₹997,050 |
| B-HNI (Min) | 70 | 2,380 | ₹1,011,500 |
MV Electrosystems Financial Information (Restated Consolidated)
MV Electrosystems Ltd.'s revenue decreased by 23% and profit after tax (PAT) dropped by 1000% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 145.74 | 74.12 | 65.58 |
| Total Income | 49.79 | 64.64 | 50.57 |
| Profit After Tax | -12.63 | 1.40 | 0.56 |
| EBITDA | -9.94 | 8.92 | 6.41 |
| NET Worth | 62.57 | 17.91 | 16.53 |
| Reserves and Surplus | 52.34 | 8.77 | 9.15 |
| Total Borrowing | 49.89 | 27.50 | 27.59 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | -31.55% |
| ROCE (Return on Capital Employed) | -17.69% |
| Debt/Equity | 0.80 |
| RoNW (Return on Net Worth) | -20.29% |
| PAT Margin (Profit After Tax Margin) | -25.36% |
| EBITDA Margin | -19.97% |
| Price to Book Value | 13.90 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | -6.17 | - |
| P/E (x) | -68.88 | - |
Company Overview
MV Electrosystems Ltd. – Company Overview
- MV Electrosystems Ltd. is engaged in the design, development, assembly, and manufacturing of electrical and power electronics equipment for the railway rolling stock industry.
- The company's product portfolio includes IGBT-based 3-phase drive propulsion equipment, switchgear panels, cable protection & management products, and electrical components, systems, and sub-systems.
- Product Portfolio:
- Propulsion Equipment
- Cable Protection & Management Products
- The company operates through integrated design, manufacturing, and quality testing processes, focusing on innovation, precision engineering, and reliable railway solutions.
- It has an in-house Research, Design & Development Centre in Faridabad, Haryana, dedicated to developing advanced power electronics and railway systems.
- As of May 31, 2026, the company had 206 employees.
Company Strengths
- Engineering and systems design focused railways company with strong in-house research, design & development capabilities for highly engineered and complex railway systems, combining precision and domain expertise.
- Ability to create precision driven design & development capabilities and safety critical & complex railway electric equipment acts as high barriers to entry in this segment.
- Long-standing and deep relationship with Indian Railways
- Experienced Promoter and management team with strong implementation skills and operational effectiveness.
Use of Proceeds
| 1) | Funding long-term working capital requirements of the Company | 180.00 |
| 2) | Investment in research design and development activities for new power electronic equipment | 21.00 |
| 3) | General corporate purpose | 53.46 |
| 4) | Issue Expenses | 35.54 |
| Total | 290.00 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
MV Electrosystems IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| MV Electrosystems Ltd. | -6.52 | -6.52 | 30.58 | - | -20.29 | - | - |
| Hind Rectifiers Limited | 13.10 | 13.50 | 60.69 | 88.83 | 21.37 | - | Consolidated |
Quick Info
| Sector | railway infrastructure, electrical equipment, and power electronics |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,159.52 Cr |
Important Dates
| IPO Open | Jul 30, 2026 |
| IPO Close | Aug 03, 2026 |
| Allotment Date | Aug 04, 2026 |
| Credit to Demat | Aug 05, 2026 |
| Listing Date | Tentative: Aug 06, 2026 |
Lead Manager(s)
Sundae Capital Advisors Pvt.Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹290.00 crores.
- Issue Structure: Entirely a fresh issue of 0.68 crore shares totaling ₹290.00 crores.
- IPO Dates: The issue opened on July 30, 2026 and closed on August 3, 2026.
- Allotment Date: The allotment was finalized on August 4, 2026.
- Listing Details: The shares are proposed to be listed on both National Stock Exchange of India and BSE Limited on August 6, 2026.
- Retail Investment Requirement: Minimum 1 lot (34 shares) amounting to approximately ₹14,450.
- Sector: Electrical equipment and power systems.
- Issue Price: ₹425 per equity share.
- Lot Size: 34 shares per lot.
This IPO offered investors an opportunity to participate in the electrical equipment and power systems sector through a fresh issue of shares.