MV Electrosystems IPO draws strong retail demand after Rs 130.5 crore anchor placement

Mumbai‑based MV Electrosystems Ltd secured Rs 130.5 crore from anchor investors, including Kotak Mutual Fund and Founders Collective Fund, at the top of its Rs 400‑425 price band ahead of its initial public offering. The fresh‑issue IPO aims to raise a total of Rs 290 crore by offering 68.23 lakh equity shares, with the subscription period running from July 30 to August 3, 2026.

On the first day of trading, the issue was subscribed 1.07 times overall, with retail investors leading the way – the retail quota was subscribed 4.39 times, while institutional quotas lagged behind. Qualified Institutional Buyers remained largely unsubscribed. The shares are expected to list on the NSE and BSE on August 6, 2026, with a grey‑market premium suggesting a potential listing price around Rs 525 per share.

Proceeds from the offering are earmarked for business expansion and other corporate purposes. MV Electrosystems designs and manufactures electrical and power‑electronics equipment for railway rolling stock, including IGBT‑based propulsion systems, switchgear panels, and cable protection modules.