- Issue price
- ₹425per share
- Issue size
- ₹290 Cr68,23,528 shares
- Face value
- ₹5per equity share
- Lot size
- 34 sharesMin. ₹14,450 at the upper price
- Anchor biddingWed, 2026
- OpensThu, 2026
- ClosesMon, 2026
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 68,23,528 shares (₹290 Cr)
- Offer for sale
- None
- Total issue
- 68,23,528 shares (₹290 Cr)
- Face value
- ₹5
- Listing at
- BSE, NSE
- Promoter holding
- 76.92% → 50.98%
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor45.0%
- QIB ex-anchor30.0%
- Retail10.0%
- Big NII10.0%
- Small NII5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 6,82,346 | 10.00% | 10% |
| Non-institutional investors (NII) | 10,23,502 | 15.00% | 15% |
| Small NII (₹2–10 lakh) | 3,41,167 | 5.00% | — |
| Big NII (above ₹10 lakh) | 6,82,335 | 10.00% | — |
| Qualified institutional buyers (QIB) | 51,17,680 | 75.00% | 75% |
| QIB, excluding anchor | 20,47,093 | 30.00% | — |
| Anchor investors | 30,70,587 | 45.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹425 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 34 | ₹14,450 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- -₹6.52
- NAV per share (As at March 31, 2026)
- ₹30.58
- NAV per share (At Issue Price)
- ₹129.23
- RoNW
- -20.29%
- ROCE
- -17.69%
- Debt to equity
- 0.80
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 49.43 | 62.64 | 49.96 |
| Total income | 49.79 | 64.64 | 50.57 |
| EBITDA | -9.94 | 8.92 | 6.41 |
| Profit after tax | -12.63 | 1.40 | 0.56 |
| Net worth | 62.57 | 17.91 | 16.53 |
| Reserves and surplus | 52.34 | 8.77 | 9.15 |
| Total assets | 145.74 | 74.12 | 65.58 |
| Total borrowing | 49.89 | 27.50 | 27.59 |
12 months vs 12 months: revenue −21.1%, profit after tax −1000.1%.
Source: ProspectusUpdated
About the company
The company designs, develops, assembles and manufactures power electronics equipment for railway rolling stock. Its main products are IGBT-based 3-phase propulsion equipment for electric locomotives, along with switchgear panels for rail coaches and EMUs and cable protection and management products. It runs an in-house R&D centre in Faridabad and manufacturing units in Palwal, Haryana.
- Incorporated
- 2009
- Industry
- Railway Power Electronics
- CIN
- U31401HR2009PLC140536
- Website
- mvelectrosystems.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Mohit Vohra | Promoter | 28.77% | 21.57% |
| Ramendra Pratap Singh | Promoter | 10.17% | 7.63% |
| Rahul Dhawan | Promoter | 9.78% | 7.33% |
| Sonali Dhawan | Promoter | 7.15% | 5.36% |
| Sumit Dhawan | Promoter | 6.91% | 5.18% |
| Amit Dhawan | Promoter | 5.21% | 3.91% |
| Sangeeta Singh | Promoter group | 8.92% | 0.00% |
| Avinash Mehta | Promoter group | 0.01% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Funding long-term working capital requirements | 180.00 |
| Research, design and development investment for new power electronic equipment | 21.00 |
| General corporate purposes | 53.46 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| MV Electrosystems LimitedIssuer | -₹6.52 | — | -20.29% | ₹30.58 |
| Hind Rectifiers Limited | ₹13.1 | 88.83× | 18.33% | ₹60.69 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Holds an in-house designed IGBT-based 3-phase propulsion equipment with approval from Indian Railways' CLW.
- Has an executable order book of 564 propulsion units valued at about ₹ 9,216.40 million excluding GST as of June 30, 2026.
- Holds IRIS and ISO certifications and an R&D centre recognised by DSIR.
- Serves railway customers across multiple Indian Railways production units.
Risks
- The company reported a loss of ₹ 126.29 million in FY 2025-26 and negative EBITDA, after profit in prior years.
- Net worth is low relative to the order book and planned expansion, and reliance on borrowings is significant.
- Revenue depends heavily on Indian Railways orders awarded through tenders, with no long-term supply contracts with suppliers.
- Commercial supplies only began in March 2026, and working capital needs are high due to import dependence and long receivable cycles.
- No listed company of similar size offers comparable propulsion equipment, so the peer comparison is a proxy and may not be representative.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹425) appear here after the shares list on BSE and NSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the MV Electrosystems IPO open and close?
According to the Prospectus, the issue opens on Thursday, 30 July 2026 and closes on Monday, 3 August 2026.
What is the MV Electrosystems IPO price band?
The final issue price is ₹425 per share.
What is the lot size of the MV Electrosystems IPO?
One lot is 34 shares, which is ₹14,450 at ₹425 per share.
Where will MV Electrosystems shares list?
On BSE and NSE. The tentative listing date is Thursday, 6 August 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the MV Electrosystems IPO allotment status?
Search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the BSE website or the NSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹180 Cr for funding long-term working capital requirements, ₹21 Cr for research, design and development investment for new power electronic equipment, ₹53.46 Cr for general corporate purposes.
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Spotted something wrong?
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