About
MV Electrosystems Limited manufactures switchgear panels for railway coaches and EMUs, cable protection and interconnected products, and electrical components, systems, and sub-systems for railway rolling stock. The company operates through its assembling cum manufacturing facilities in Haryana, along with a dedicated Research, Design and Development Centre. Its operations expand into power electronics equipment, including the development, assembly, and supply of microprocessor-controlled IGBT-based 3-Phase Drive Propulsion Equipment for Indian Railways. The company generates revenue by selling its products directly and through tenders to public- and private-sector clients, with Indian Railways as its primary customer. MV Electrosystems' offerings also include annual maintenance services following warranty periods for its propulsion equipment.
IPO schedule
| Issue open date | 2026-07-30 |
| Issue close date | 2026-08-03 |
| UPI mandate deadline | 2026-08-03 (5 PM) |
| Allotment finalization | 2026-08-04 |
| Refund initiation | 2026-08-05 |
| Share credit | 2026-08-05 |
| Listing date | 2026-08-06 |
| Mandate end date | 2026-08-18 |
| Lock-in end date for anchor investors (50%) | 2026-09-02 |
| Lock-in end date for anchor investors (remaining) | 2026-11-01 |
Financials
| Financial Year Ended | March 2024 | March 2025 | March 2026 |
| Total Assets | 65.58 | 74.12 | 145.74 |
| Revenue | 50.57 | 64.64 | 49.79 |
| Profit After Tax | 0.56 | 1.4 | -12.63 |
Issue size
| Funds Raised in the IPO | Amount (₹ Cr.) |
| Total issue size | 290 |
| Fresh Issue - Proceeds go to the company | 290 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding long-term working capital requirements | 180 (62.07%) |
| Investment in R&D for new power electronic equipment | 21 (7.24%) |
| General corporate purposes | 89 (30.69%) |
Strengths
- Strong in-house engineering and R&D capabilities for designing complex railway power electronics and propulsion systems.
- High technical and regulatory entry barriers in the railway equipment sector due to stringent safety and approval standards.
- Established long-standing supplier relationships with Indian Railways across multiple operating units.
- Integrated product lifecycle approach combining in-house product design, manufacturing, and quality testing.
- Experienced promoter and management team with extensive domain knowledge in railway systems.
Risks
- Heavy reliance on Indian Railways, which accounts for the majority of total operational revenues.
- All manufacturing and R&D facilities are concentrated geographically in the state of Haryana.
- Significant dependency on foreign suppliers for critical imported raw materials and electronic components.
- Operational reliance on temporary purchase orders and competitive tenders rather than long-term customer contracts.
- History of negative cash flows from operating activities in recent financial years.
Allotment Status for MV Electrosystems
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- Visit the Kfin Technologies IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.