MV Electrosystems Limited is a technology-driven company engaged in the design, development, assembly, and manufacturing of electrical and power electronics equipment for railway rolling stock.
Its products include IGBT-based 3-Phase Drive Propulsion Equipment, switchgear panels, cable protection & management products, and electrical components, systems & sub-systems.
MV Electrosystems Ltd. operates in India’s growing railway infrastructure sector, driven by railway electrification, the Make in India initiative, metro expansion, and high-speed rail projects. The company focuses on developing indigenous railway power electronics solutions.
Products:
- Propulsion Equipment
- Switchgear Panels for Railway Coaches & EMUs
- Cable Protection & Management Products
- Electrical Components, Systems & Sub-systems
The company has an in-house Research, Design & Development (R&D) Centre in Faridabad, Haryana, focused on developing advanced railway power electronics. It was recognized by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India, on June 12, 2026.
As of May 31, 2026, MV Electrosystems had 206 employees across its operations.
MV Electrosystems IPO – Details
| IPO Opening Date | 30 July 2026 |
| IPO Closing Date | 03 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 68,23,528 Shares Worth ₹290.00 Crore Fresh Issue: 68,23,528 Shares Worth ₹290.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹400 – ₹425 per share |
| Market Lot | 34 Shares |
| Min Order | 34 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
MV Electrosystems IPO – Date Schedule
| IPO Open Date | 30 July 2026 |
| IPO Close Date | 03 August 2026 |
| Basis of Allotment | 04 August 2026 |
| Initiation of Refund | 05 August 2026 |
| Credit of Shares to Demat Account | 05 August 2026 |
| IPO Listing Date | 06 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 03, 2026 |
MV Electrosystems IPO – Lots Size & Price
| 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 |
Competitive Strength
- 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 Railways.
- Experienced Promoter and management team with strong implementation skills and operational effectiveness.
Company Promoters
- Mohit Vohra
- Amit Dhawan
- Sumit Dhawan
- Rahul Dhawan
- Sonali Dhawan
- Ramendra Pratap Singh
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹50.57 Cr | ₹49.47 Cr | ₹0.56 Cr | ₹27.59 Cr |
| 31 March 2025 | ₹64.64 Cr | ₹62.24 Cr | ₹1.40 Cr | ₹27.50 Cr |
| 31 March 2026 | ₹49.79 Cr | ₹66.59 Cr | – ₹12.63 Cr | ₹49.89 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | -31.55% |
| ROCE | -17.69% |
| Debt/Equity | 0.80 |
| RoNW | -20.29% |
| PAT Margin | -25.36% |
| EBITDA Margin | -19.97% |
| Price to Book Value | 13.90 |
| Pre IPO | Post IPO | |
| EPS (₹) | -6.17 | – |
| P/E (x) | -68.88 | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding long-term working capital requirements of the Company. | ₹180.00 |
| Investment in research design and development activities for new power electronic equipment. | ₹21.00 |
| General Corporate Purpose. |
MV Electrosystems IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | Hind Rectifiers Limited | 88.83 |
✅Strengths
- Strong expertise in railway power electronics and propulsion systems.
- DSIR-recognized in-house R&D centre driving product innovation.
- Integrated design, manufacturing, and testing capabilities.
- Strong relationships with Indian Railways and railway OEMs.
- Well-positioned to benefit from railway modernization and electrification.
⚠️Risks
- High dependence on the railway sector and government spending.
- Revenue concentrated among a few key customers.
- Delays in approvals or project execution may impact revenue.
- Supply chain disruptions could affect operations.
MV Electrosystems IPO Promoter Holding
| Pre-Issue Share Holding | 76.92% |
| Post Issue Share Holding | 57.68% |
MV Electrosystems IPO Prospectus
Company Contact Information
| MV Electrosystems Limited Plot No. 7, Site No 2, 14/3, Mathura Road, Faridabad, Haryana, 121003 Phone: +91 92 1199 9711 Email: cs@mvelectrosystems.com Website: https://www.mvelectrosystems.com/ |
MV Electrosystems IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: mvelectrosystems.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
MV Electrosystems IPO Lead Manager(s)
| 1. Sundae Capital Advisors Pvt. Ltd. |
MV Electrosystems IPO FAQs
| What is the MV Electrosystems IPO? MV Electrosystems IPO is a main-board IPO. The issue is priced at ₹400 to ₹425 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the MV Electrosystems IPO open? The IPO is to open on 30 July 2026 for QIB, NII, and Retail Investors. |
| What is MV Electrosystems IPO investors’ portion? The investors’ portion is QIB – 75%, NII – 15%, and Retail – 10%. |
| What is the MV Electrosystems IPO Size? MV Electrosystems IPO size is ₹290.00 Crore. |
| What are the MV Electrosystems IPO Minimum and maximum lot sizes for Retail? The minimum bid is 34 Shares with ₹14,450, while the maximum bid is 442 Shares with ₹1,87,850. |
| What is the MV Electrosystems IPO Allotment Date? MV Electrosystems IPO allotment date is 04 August 2026. |
| What is the MV Electrosystems IPO Listing Date? MV Electrosystems IPO listing date is 06 August 2026. The IPO is to be listed on the BSE and the NSE. |
