MV Electrosystems’ ₹290 crore IPO opened for subscription today, July 30, 2026, with a price band of ₹400 to ₹425 per share. As of 10:15 AM on Day 1, the issue had been subscribed 0.24 times.

The IPO will remain open for subscription until August 3, 2026. The basis of allotment is expected to be finalised on August 4, 2026, while the shares are tentatively scheduled to be listed on the NSE and BSE on August 6, 2026.

MV Electrosystems IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue Only)
Total Issue Size: Up to ₹290.00 crore
Fresh Issue: Up to ₹290.00 crore
Offer for Sale (OFS): Not Applicable
Face Value: ₹5 per equity share
Price Band: ₹400 to ₹425 per share
Lot Size: 34 shares
Minimum Investment for Retail Investors: ₹14,450 (34 shares) (based on upper price)
Listing: BSE, NSE
Book Running Lead Managers: Sundae Capital Advisors Private Limited
Registrar: KFin Technologies Limited

MV Electrosystems IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	30 July 2026
Subscription Closing Date	3 August 2026
Basis of Allotment Date	4 August 2026
Refund Initiation Date	5 August 2026
Credit of Shares	5 August 2026
Listing on BSE and NSE	6 August 2026

Note: The allotment and listing dates are tentative and may be revised.

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Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Meeting the company's long-term working capital requirements.
Funding research, design and development (R&D) of new power electronics equipment
General corporate purposes

Explore other Upcoming IPOs on BSE and NSE.

MV Electrosystems Day 1 Subscription Status

[July 30, 2026, 10:15 AM]

Category	Subscription (x)
Qualified Institutional Buyers (QIBs)	0.00x
Non-Institutional Investors (NIIs)	0.21x
Retail Individual Investors (RIIs)	1.02x
Total	0.24x

About MV Electrosystems Limited

Founded in 2009, MV Electrosystems Limited is an Indian technology-focused company engaged in the design, development, assembly, and manufacturing of electrical and power electronics solutions for the railway sector. Its product range includes propulsion systems for electric locomotives, switchgear panels for railway coaches and Electric Multiple Units (EMUs), cable protection and management systems, along with various electrical components and sub-systems used in railway rolling stock.

The company aligns its operations with India's railway modernisation efforts, such as railway electrification, the Make in India initiative, and the expansion of high-speed rail infrastructure. Backed by an in-house engineering team, it develops proprietary traction and propulsion technologies to meet the evolving needs of electric locomotives, metro rail systems, Mainline Electric Multiple Units (MEMUs), EMUs, and Vande Bharat trains.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	49.43	62.64	49.96
EBITDA	(9.94)	8.91	6.41
Profit After Tax	(12.63)	1.40	0.56