MV Electrosystems Limited has announced the price band for its upcoming ₹290 crore mainboard Initial Public Offering (IPO). The public issue comprises entirely a fresh issue of up to 0.68 crore equity shares, with no Offer for Sale (OFS).

The IPO will open for subscription on July 30, 2026, and close on August 3, 2026, while anchor investor bidding is scheduled for July 29, 2026. The basis of allotment is likely to be finalised on August 4, 2026, and the company's shares are expected to be listed on both 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.

Explore other Upcoming IPOs on BSE and NSE.

MV Electrosystems IPO Category-wise Investment Limits

The application size for each category is as follows -

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not less than 75% of the Net Issue
Non-Institutional Investors (NIIs)	Not more than 15% of the Net Issue
Retail Individual Investors (RII)	Not more than 10% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹425 per share, is as follows -

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	34	₹14,450
Retail (Maximum)	13	442	₹1,87,850
sNII (Minimum)	14	476	₹2,02,300
bNII (Minimum)	70	2,380	₹10,11,500

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

About MV Electrosystems Limited

Incorporated in 2009, MV Electrosystems Limited is an Indian technology-driven company that designs, develops, assembles and manufactures electrical and power electronics solutions for the railway industry. Its product portfolio includes propulsion systems for electric locomotives, switchgear panels for railway coaches and Electric Multiple Units (EMUs), cable protection and management systems, and other electrical components and sub-systems used in railway rolling stock.

The company operates in line with India's railway modernisation initiatives, including railway electrification, the Make in India programme and the expansion of high-speed rail networks. Its engineering team develops proprietary technologies for traction and propulsion systems, enabling the company to cater to evolving requirements in electric locomotives, metro rail, 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