MV ELECTROSYSTEMS LTD IPO: Company Review, Subscription and Allotment Updates
2026-07-29 — Company overview and issue details MV ELECTROSYSTEMS LTD IPO (ABOUT THE COMPANY) MV ELECTROSYSTEMS LTD – COMPANY BACKGROUND MV Electrosystems Ltd was incorporated in 2009 and is into design, development, assembly and…
2026-07-29 — Company overview and issue details
MV ELECTROSYSTEMS LTD IPO (ABOUT THE COMPANY)
MV ELECTROSYSTEMS LTD – COMPANY BACKGROUND
MV Electrosystems Ltd was incorporated in 2009 and is into design, development, assembly and manufacture of electrical and power electronics equipment. Its products are largely used in railway rolling stock, including locomotives and switchgear panels for railway coaches. It also makes electrical components, systems, and sub-systems. The company has been one of the big beneficiaries of the capex by the railways and the effort to make in India to the extent possible. Its main products are propulsion equipment and cable protection & management products. It has its in-house R&D division to add value to its client.
MV Electrosystems Ltd has been promoted by Mohit Vora, Amit Dhawan, Rahul Dhawan, Sonali Dhawan, and Ramendra Pratap Singh. The IPO will be entirely a fresh issue of shares and there is no offer for sale (OFS) component. The fresh issue funds will be used for financing the long-term working capital requirements, investment in R&D for new power electronic equipment and for general corporate purposes. The issue is being lead-managed by Sundae Capital Advisors Private Ltd; while KFIN Technologies Ltd (KFINTECH) are the registrars to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF MV ELECTROSYSTEMS LTD
Here are the key highlights of the public issue of MV Electrosystems Ltd.
The IPO is open from July 30th, 2026 to August 03rd, 2026. It has a face value of ₹5 per share and the IPO price band has been fixed in the range of ₹400 to ₹425 per share.
The IPO of MV Electrosystems Ltd will be entirely a fresh issue of shares and there will be no offer for sale (OFS) component to the IPO.
The Fresh Issue portion of the IPO comprises the issue of 70,58,078 shares (70.58 lakh shares), which at the upper price band of ₹425 per share, translates into a fresh issue size of ₹299.97 crore.
Since there is no OFS component, the overall IPO size will also comprise of the fresh issue portion of 70,58,078 shares (70.58 lakh shares), which at the upper price band of ₹425 per share translates into overall issue size of ₹299.97 crore.
Due to the dilutive impact of the fresh issue; the promoter’s stake in the company will get reduced from 76.92% to 57.19% of the total shares outstanding post the IPO.
The IPO of MV Electrosystems Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on July 29, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of MV Electrosystems Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Thursday, 30 July, 2026 |
| IPO Close Date | Monday, 3 August, 2026 |
| Basis of Allotment | Tuesday, 4 August, 2026 |
| Initiation of Refunds to non-allottees | Wednesday, 5 August, 2026 |
| Credit of Shares to Demat | Wednesday, 5 August, 2026 |
| Listing Date on NSE and BSE | Thursday, 6 August, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 30,70,587 shares | 43.50% of total IPO size |
| QIB Shares Offered | 21,74,994 shares | 30.82% of total IPO size |
| NII (HNI) Shares Offered | 10,87,498 shares | 15.41% of total IPO size |
| Retail Shares Offered | 7,24,999 shares | 10.27% of total IPO size |
| Total Shares Offered | 70,58,078 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of MV Electrosystems Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹ 14,450 |
| Retail (Max) | 13 | 442 | ₹ 1,87,850 |
| S-HNI (Min) | 14 | 476 | ₹ 2,02,300 |
| S-HNI (Max) | 69 | 2,346 | ₹ 9,97,050 |
| B-HNI (Min) | 70 | 2,380 | ₹ 10,11,500 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 34 shares)
FINANCIAL HIGHLIGHTS OF MV ELECTROSYSTEMS LTD
The table captures the key financials of MV Electrosystems Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 49.43 | 62.64 | 49.96 |
| Sales Growth (%) | -21.09% | 25.38% | |
| Profit after Tax (₹ in crore) | -12.63 | 1.40 | 0.56 |
| PAT Margins (%) | -25.55% | 2.24% | 1.11% |
| Total Equity (₹ in crore) | 62.57 | 17.91 | 16.53 |
| Total Assets (₹ in crore) | 145.74 | 74.12 | 65.58 |
| Return on Equity (%) | -20.18% | 7.83% | 3.37% |
| Return on Assets (%) | -8.67% | 1.89% | 0.85% |
| Asset Turnover Ratio (X) | 0.34 | 0.85 | 0.76 |
| Earnings per share (₹) | -6.52 | 0.76 | 0.39 |
| EBITDA (₹ in Crore) | -9.94 | 8.92 | 6.41 |
| EBITDA Margins (%) | -20.11% | 14.24% | 12.82% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The financials of the company have been rather erratic. After making profits in the previous two years, the company has dipped into losses in the current year. The loss was due to a sharp spike in employee costs. Hence, the ratios are not exactly comparable. PAT margins are low in the previous periods, due to the rigid pricing system adopted by the Railways.
VALUATION METRICS OF MV ELECTROSYSTEMS LTD IPO
With losses in the current year and low PAT margins in the last 2 years, the P/E ratio of the company may not be too indicative. However, the company does bring some advantages to the table. It has strong domain expertise in the business of electrical systems for the Indian Railways and it has its own R&D division to take care of customer-centric changes.
The company is likely to gain in the years ahead due to the Make in India strategy of the government and the massive capex planned by the Railways. However, investors would need to see more predictable and stable financials before taking an investment decision. Investors in the IPO have to take their investment view accordingly.
2026-07-30 — Anchor allocation
MV ELECTROSYSTEMS LTD IPO (ANCHOR ALLOCATION 43.50%)
BRIEF ON ANCHOR ALLOCATION OF MV ELECTROSYSTEMS LTD
The anchor issue of MV Electrosystems Ltd saw a robust response on 29th July 2026 with 43.50% of the IPO size absorbed by anchors. Out of 70,58,078 shares (70.58 lakh shares) on offer in the IPO, anchors picked up 30,70,587 shares (30.71 lakh shares) accounting for 43.50% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹425 per share. This includes the face value of ₹5 per share plus a share premium of ₹420 per share. The anchor bidding opened and closed on 29th July 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of MV Electrosystems Ltd
| Bid Date | July 29, 2026 |
|---|---|
| Shares Offered | 30,70,587 shares |
| Anchor Portion Size (₹ in crore) | ₹130.50 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Sep 02, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Nov 01, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN MV ELECTROSYSTEMS LTD
On 29th July 2026, MV Electrosystems Ltd allotted 30,70,587 shares to a total of 14 anchor investors. The allocation was done at the upper IPO price band of ₹425 per share which resulted in overall anchor allocation of ₹130.50 crore. The anchors have already absorbed 43.50% of the total issue size of ₹299.97 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹110.50 crores, or, 84.67% of the overall anchor allocation of shares, one trading day ahead of the IPO of MV Electrosystems Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted, and captured in the table below.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Kotak Infra & Economic Reforms Fund | 5,61,408 | 18.28% | ₹ 23.86 |
| 02 | Subhkam Ventures India Private Ltd | 4,23,538 | 13.79% | ₹ 18.00 |
| 03 | Kotak Manufacturing in India Fund | 3,36,872 | 10.97% | ₹ 14.32 |
| 04 | Kotak Special Opportunities Fund | 3,36,838 | 10.97% | ₹ 14.32 |
| 05 | Shine Star Build Cap Private Ltd | 2,35,293 | 7.66% | ₹ 10.00 |
| 06 | Finavenue Growth Fund | 1,70,578 | 5.56% | ₹ 7.25 |
| 07 | Founders Collective Fund | 1,64,730 | 5.36% | ₹ 7.00 |
| 08 | Tattvam AIF Trust - Aanjay | 1,35,286 | 4.41% | ₹ 5.75 |
| 09 | 360 One Prime Ltd | 1,17,674 | 3.83% | ₹ 5.00 |
| 10 | Ashika India Select Fund | 1,17,674 | 3.83% | ₹ 5.00 |
| Grand Total | 25,99,891 | 84.67% | ₹ 110.50 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 30,70,587 shares allocated to the anchors in the IPO, there was an allocation of 12,35,118 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 3 MF schemes of 1 asset management company (AMC). Mutual funds accounted for 40.22% of the overall anchor allocation.
Out of the 30,70,587 shares allocated to the anchors in the IPO, there was no allocation made to life insurance companies regulated by IRDAI. The remaining anchor allocation was spread across alternate investment funds (AIFs) and NBFCs.
NEXT STEPS IN MV ELECTROSYSTEMS LTD IPO
Post the closure of the IPO subscription on 03rd August 2026, the basis of allotment will be finalized on 04th August 2026 and the refunds will be initiated on 05th August 2026. In addition, the demat credits are expected to also happen on 05th August 2026 and the stock will list on 06th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 05th August 2026 under ISIN (INE0OWZ01020).
2026-08-03 — Day-3 subscription update
MV Electrosystems Ltd (Day-3 Final Subscription at 188.85 times)
MV ELECTROSYSTEMS LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.10 pm on 03rd August 2026, out of the 39.87 lakh shares on offer in the IPO (excluding anchor portion), MV Electrosystems Ltd saw bids for 7,530.51 lakh shares. This implies an overall subscription of 188.85X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of MV Electrosystems Ltd was as under:
| Employees (N.A.) | QIBs (90.47X) | HNI / NII (374.58X) | Retail (205.42X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 43.50% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 30,70,587 | 30,70,587 | 130.50 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 90.47 | 21,74,994 | 19,67,74,048 | 8,362.90 |
| HNIs / NIIs | 374.58 | 10,87,498 | 40,73,51,552 | 17,312.44 |
| Retail Investors | 205.42 | 7,24,999 | 14,89,25,678 | 6,329.34 |
| Total | 188.85 | 39,87,491 | 75,30,51,278 | 32,004.68 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of MV Electrosystems Ltd was open up to August 03, 2026, and has closed for subscription as of the close of trading hours on August 03, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹32,135.18 crore.
NEXT STEPS IN THE MV ELECTROSYSTEMS LTD IPO
Post the closure of the IPO subscription on 03rd August 2026, the basis of allotment will be finalized on 04th August 2026 and the refunds will be initiated on 05th August 2026. In addition, the demat credits are expected to also happen on 05th August 2026 and the stock will list on 06th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 05th August 2026 under ISIN (INE0OWZ01020).
2026-08-04 — Allotment guidance and next steps
MV Electrosystems Ltd (How to check allotment status online)
ABOUT THE MV ELECTROSYSTEMS LTD IPO
The IPO of MV Electrosystems Ltd opened on July 30th, 2026 and closed on August 03rd, 2026. The IPO comprised of a fresh issue of 70,58,078 shares (70.58 lakh shares) worth ₹299.97 crore at the upper band price of ₹425 per share. There is no offer for sale (OFS) component in this IPO. The allotment status will be finalized by EOD of August 04, 2026. Here is how to check allotment status for the IPO of MV Electrosystems Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF MV ELECTROSYSTEMS LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select MV Electrosystems Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of MV Electrosystems Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF MV ELECTROSYSTEMS LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select MVELECTRO from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of MV Electrosystems Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF MV ELECTROSYSTEMS LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select MV Electrosystems Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE MV ELECTROSYSTEMS LTD IPO
Post the closure of the IPO subscription on 03rd August 2026, the basis of allotment will be finalized on 04th August 2026 and the refunds will be initiated on 05th August 2026. In addition, the demat credits are expected to also happen on 05th August 2026 and the stock will list on 06th August 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 05th August 2026 under ISIN (INE0OWZ01020).
Interested in applying for this IPO?
SERNET is an Authorised Person of Choice Equity Broking Pvt. Ltd. (SEBI Reg. No. INZ000160131). All broking services — trading, demat and IPO applications — are provided by Choice Equity Broking.
New to Choice FinX? Open a free account →
Already have an account? Log in to Choice FinX →
Disclaimer: Investments in securities markets are subject to market risks. Broking services are provided by Choice Equity Broking Pvt. Ltd.; SERNET is not a stock broker.
Was this article helpful?