Summary of this article
MV Electrosystems IPO was subscribed 51.62 times on the final day of bidding
GMP rose to Rs 115, indicating a 27.06 per cent listing premium
Rs 290-crore fresh issue closes today; allotment due on August 4
The initial public offering (IPO) of MV Electrosystems entered its final day of bidding on August 3, 2026, with healthy demand across investor categories, led by non-institutional and retail investors. Meanwhile, its grey market premium (GMP) has seen a jump ahead of the close of bidding, indicating positive sentiment in the unofficial market. The Rs 290-crore public issue, comprising only a fresh issue of shares, will close for subscription later today.
MV Electrosystems IPO Day 3 Subscription Status
According to data from the stock exchanges, the IPO was subscribed 111.27 times by 2:06 PM on August 3. The non-institutional investor (NII) portion continued to receive the strongest response, with subscriptions reaching 279.10 times. Within the category, the portion reserved for applications above Rs 10 lakh was subscribed 292.30 times, while the Rs 2 lakh-10 lakh segment was booked 252.69 times.
The retail investor quota was subscribed 154.94 times, while the qualified institutional buyer (QIB) portion was subscribed 12.80 times. Overall, investors placed bids for 443.69 million shares against the 3.99 million shares on offer.
Of the total issue, 75 per cent has been reserved for QIBs, 15 per cent for non-institutional investors (NIIs), and 10 per cent for retail investors.
MV Electrosystems IPO GMP today
The GMP of MV Electrosystems stood at Rs 115 as of 10:59 AM on August 3, according to websites that track such trades. Based on the upper end of the price band at Rs 425 per share, the current premium indicates an estimated listing price of around Rs 540, implying a potential listing gain of about 27.06 per cent.
The GMP had eased to Rs 110 on August 1 after touching Rs 133 on July 31 before recovering to Rs 115 on August 2 and remaining unchanged on the final day of bidding. However, investors should note that GMP is an unofficial indicator based on informal trading activity and should not be considered a reliable predictor of listing performance.
MV Electrosystems IPO details
The IPO is a book-built public issue worth Rs 290 crore comprising an entirely fresh issue of 6.82 million shares. There is no offer-for-sale (OFS) component. The company has fixed the price band at Rs 400-425 per share. Retail investors can bid in lots of 34 shares, requiring a minimum investment of Rs 14,450 at the upper end of the price band.
Ahead of the public issue, the company mobilised Rs 130.50 crore from anchor investors on July 29. Sundae Capital Advisors is the book-running lead manager to the issue, while Kfin Technologies is the registrar.
The company plans to use the proceeds from the IPO mainly to meet its long-term working capital needs, invest Rs 21 crore in research and development of new power electronic equipment, and for other general corporate purposes.
About MV Electrosystems
Incorporated in 2009, MV Electrosystems designs, develops, assembles and manufactures electrical and power electronics equipment used in railway rolling stock. Its product portfolio includes IGBT-based three-phase drive propulsion equipment for electric locomotives, switchgear panels for railway coaches and electric multiple units (EMUs), and cable protection and management products, besides electrical components, systems, and sub-systems.
The company caters to India’s railway infrastructure sector, where demand is being driven by broad-gauge electrification, as well as domestic procurement under the Make in India programme and network expansion, including proposed high-speed rail corridors. It also operates an in-house research, design and development centre in Faridabad, Haryana, focused on developing advanced power electronics and railway systems.
MV Electrosystems Financial Performance
For the financial year ended March 31, 2026, MV Electrosystems reported a total income of Rs 49.79 crore, down from Rs 64.64 crore a year ago. The company reported a net loss of Rs 12.63 crore during the year against a profit after tax (PAT) of Rs 1.40 crore in the previous financial year. Its earnings before interest, tax, depreciation, and amortisation (Ebitda) stood at a loss of Rs 9.94 crore against a positive Rs 8.92 crore in FY25. The company’s total assets increased to Rs 145.74 crore as of March 31, 2026, while total debt stood at Rs 49.89 crore.
