Mumbai, July 27, 2026 — Technology-driven railway equipment manufacturer MV Electrosystems Limited has set its IPO price band at Rs 400 to Rs 425 per equity share (face value of Rs 5 each). The public subscription opens on Thursday, July 30, 2026, and closes on Monday, August 03, 2026, with the anchor bidding date fixed for Wednesday, July 29, 2026. Investors can bid for a minimum of 34 equity shares and in multiples thereof.
The IPO is entirely a fresh issue of equity shares raising up to Rs 2,900 million. Out of the issue proceeds:
- Rs 1,800 million will fund long-term working capital requirements.
- Rs 210 million is allocated to research, design, and development activities for new power electronic equipment.
- The remaining balance will support general corporate purposes.
Under the book-building process, up to 75% of the issue is reserved for Qualified Institutional Bidders (QIBs), up to 15% for Non-Institutional Bidders, and up to 10% for Retail Individual Bidders.
About the Company
MV Electrosystems specializes in designing and manufacturing electrical and power electronics equipment for railway rolling stock—including IGBT-based 3-Phase Drive Propulsion equipment for electric locomotives, switchgear panels, and EMUs. Having received prototype approval from Chittaranjan Locomotive Works (CLW) in September 2025 and commenced commercial supplies in March 2026, the company supports Indian Railways’ self-dependence and decarbonization initiatives.
