Issue Price
₹425
Per Share
GMP
+₹115
+27.06% Grey Market
Est. Listing
₹540
Expected Price
Min. Application
₹28,900
2 lots × 34 shares
Incorporated in 2009, MV Electrosystems Ltd. is engaged in engaged in the design, development, assembly and manufacturing of electrical & power electronics equipment used in railway rolling stock including IGBT based 3-Phase Drive Propulsion equipment for electric locomotives, switchgear panels for railway coaches & EMU’s, cable protection & management products and electrical components, systems & sub-systems.The company operate within India’s rail infrastructure transition driven by mandated broad-gauge electrification, Make-inIndia procurement requirements and the expansion of the network, including upcoming high-speed corridors. MV Electrosystems Ltd. operates through integrated design, production, and quality-testing processes. The company emphasizes innovation, precision engineering, and client-centric solutions, enabling reliable performance and long-term value across diverse industries and product categories.Products:Propulsion EquipmentCable protection & management productsThe company has in-house Research, Design & Development Centre based at Plot No. 7, Site No. 2, 14/3, Mathura Road, Faridabad, Haryana, India is the technological backbone of our operations, dedicated to innovation, engineering and advancement of complex and high-performance power electronics and other railway systems.As of May 31, 2026. the company had 206 employees.Competitive 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 RailwaysExperienced Promoter and management team with strong implementation skills and operational effectiveness.
MV Electrosystems Ltd proposes to utilise the net proceeds from the Issue for the following objects:
| Category | Shares Offered | % Issue | Amount (₹ Cr)* | Subscription |
|---|---|---|---|---|
| QIB (Ex Anchor) | 5,117,680 | — | ₹217.50 Cr | 38.91x |
| NII / HNI | 1,023,502 | — | ₹43.50 Cr | 395.65x |
| Retail (RII) | 682,346 | — | ₹29.00 Cr | 210.59x |
| TOTAL | 6,823,528 | 100.00% | ₹290.00 Cr | 109.59x |
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,450 |
| Retail (Max) | 13 | 442 | ₹187,850 |
| sNII (Min) | 14 | 476 | ₹202,300 |
| bNII (Min) | 70 | 2,380 | ₹1,011,500 |
| Particulars | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue from Operations | 49.79 | 64.64 | 50.57 |
| EBITDA | -9.94 | 8.92 | 6.41 |
| Profit After Tax (PAT) | -12.63 | 1.40 | 0.56 |
| Net Worth | 62.57 | 17.91 | 16.53 |
| Total Assets | 145.74 | 74.12 | 65.58 |
| Reserves & Surplus | 52.34 | 8.77 | 9.15 |
| Total Borrowings | 49.89 | 27.50 | 27.59 |