MV Electrosystems IPO Opens 30 July At ₹400-₹425; Pure Fresh Issue Of ₹290 Crore For Railway Equipment Maker

MV Electrosystems, a Haryana-based manufacturer of electrical and power electronics equipment for the railway sector, will open its maiden initial public offering (IPO) for public subscription on 30 July. The issue closes on 3 August, with anchor investor bidding on 29 July.

The price band has been fixed at ₹400 to ₹425 per share, with a minimum bid size of 34 equity shares. Share allotment is expected by 4 August, and the stock is scheduled to list on the exchanges on 6 August.

The MV Electrosystems IPO is entirely a fresh issue of equity shares aimed at raising up to ₹290 crore, with no offer for sale (OFS) component.

What The Company Makes

MV Electrosystems focuses on the research, design and development of electrical equipment and power electronics systems for the railway industry. Its products include IGBT-based three-phase drive propulsion systems for electric locomotives, switchgear panels for railway coaches and electric multiple units, cable protection and management products and other electrical components and sub-systems used in railway rolling stock.

The company filed its draft red herring prospectus (DRHP) with the Securities Exchange Board of India (SEBI) in November 2025 and received regulatory approval in April 2026.

Use Of IPO Proceeds

The fresh issue proceeds will be used across three areas: meeting long-term working capital requirements, investing in research and development (R&D) for new power electronic equipment, and general corporate purposes.

The company's focus on R&D reflects its positioning as a technology-led supplier within the railway equipment segment.

Financial Performance

FY26 was a difficult year for the business. Revenue declined 21% to ₹49.4 crore from ₹62.6 crore in FY25, while the company posted a net loss of ₹12.6 crore against a net profit of ₹1.4 crore the previous year.

The weaker numbers will be a key area of focus for investors assessing the IPO, particularly given that the company is seeking to raise funds primarily for working capital and R&D at a time when both revenue and profitability have deteriorated.

Sundae Capital Advisors is the sole book-running lead manager for the issue.

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