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Learn about MV Electrosystems Limited’s Draft Red Herring Prospectus filing, business operations, financial context, and the proposed utilisation of funds as outlined in public disclosures.
MV Electrosystems Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as part of its plan to raise capital through an initial public offering. The DRHP outlines the company’s business profile, operational strengths, financial performance, and the broad structure of the proposed public issue. This page presents an educational overview of the DRHP-stage developments, highlighting key aspects such as the company’s background, objectives of the issue, financial highlights, and the next milestones in the IPO journey. All information mentioned here is based on publicly available disclosures and reported filings.
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
MV Electrosystems Limited has submitted its Draft Red Herring Prospectus to SEBI, marking the formal initiation of its IPO process. The filing is currently under regulatory review, following which SEBI observations and approvals will determine the next stages, including the publication of the Red Herring Prospectus (RHP) and announcement of issue dates. The equity shares are proposed to be listed on recognised stock exchanges in India, subject to regulatory clearances.
As per the DRHP, the proposed IPO is expected to comprise the following components:
| Particulars | Details |
|---|---|
Issue Type |
Fresh Issue of Equity Shares (100% fresh issue; no offer for sale) |
Face Value |
₹5 per equity share |
Issue Size |
₹290.00 crore (₹2,900.00 million) |
Proposed Listing |
NSE and BSE |
Price Band |
To be announced in RHP |
Book Running Lead Manager |
Sundae Capital Advisors Pvt. Ltd. |
Registrar to the Issue |
KFin Technologies Ltd. |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
MV Electrosystems Limited operates in the electrical and power systems segment, with a focus on the design, manufacturing, and supply of electrical components and integrated solutions. The company caters to industrial, infrastructure, and power-related sectors, supporting projects that require reliable electrical distribution and control systems.
Its operations span product development, manufacturing, quality testing, and customised solutions tailored to client specifications. The company’s business model is centred on engineering expertise, long-term customer relationships, and compliance with technical and safety standards applicable to the electrical equipment industry.
According to the DRHP, the proceeds from the IPO are proposed to be utilised towards the following broad objectives:
| Fund Allocation | Amount (₹ crore) | Purpose |
|---|---|---|
Long-term Working Capital |
180 |
Funding long-term working capital requirements for operations and growth |
R&D and Product Development |
21 |
Investment in research, design and development activities for new power electronic equipment |
General Corporate Purposes |
Balance |
Administrative and general corporate requirements |
These objectives are aimed at strengthening the company’s operational capabilities and supporting its medium- to long-term growth strategy.
The DRHP provides an overview of MV Electrosystems Limited’s financial performance over recent years, offering insight into its operational scale and profitability trends.
| Fiscal Year / Period | Revenue from Operations (₹ crore) | Profit / (Loss) After Tax (₹ crore) | Net Worth / Equity (₹ crore) |
|---|---|---|---|
FY23 (Year ended Mar 31, 2023) |
68.07* |
1.19* |
16.53* |
FY24 (Year ended Mar 31, 2024) |
49.96* |
0.56* |
17.91* |
FY25 (Year ended Mar 31, 2025) |
62.64* |
1.40* |
17.91* |
H1 FY26 (Apr–Jul 31, 2025) |
17.29* |
–4.20* |
13.73* |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.
The table below summarises the current status of the IPO process based on publicly available information:
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
27th November 2025 |
Draft Red Herring Prospectus submitted for regulatory review; filing marked the formal initiation of IPO process |
SEBI observations |
Awaited |
Subject to regulatory review; SEBI to provide observations on DRHP filing |
Red Herring Prospectus (RHP) |
To be announced |
Post SEBI observations; to be filed with Registrar of Companies before IPO opening date |
IPO Bidding / Opening Date |
To be announced |
Final dates awaited from company / merchant bankers |
IPO Closing Date |
To be announced |
Closing date will be declared in public RHP |
Allotment Date |
To be announced |
Post IPO closure and basis of allotment |
Credit to DEMAT Accounts |
To be announced |
Post allotment finalisation |
Listing on NSE/BSE |
To be announced |
Post allotment and listing formalities |
Note: Investors should refer to official filings for final IPO dates to learn more about MV Electrosystems Limited IPO listing details and price, and listing timelines.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
MV Electrosystems Limited filed its Draft Red Herring Prospectus with SEBI on November 27, 2025. This filing marks the formal regulatory step in the IPO process, with further updates expected after SEBI observations are received.
The IPO is currently at the DRHP review stage. SEBI observations on the DRHP filing are awaited. Once SEBI provides its observations and the company addresses them, the Red Herring Prospectus (RHP) will be filed with the Registrar of Companies, following which the IPO opening date will be announced.
The IPO comprises a completely fresh issue of ₹290 crore in equity shares. This is 100% fresh issue with no offer for sale component. Each equity share has a face value of ₹5. Proceeds will be used for long-term working capital (₹180 crore), research and development (₹21 crore), and general corporate purposes.
Subject to regulatory approvals, MV Electrosystems Limited plans to list its equity shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
MV Electrosystems Limited, founded in 2009, is a technology-driven manufacturer of electrical and power electronics equipment for the Indian Railways. Madhuri Madhusudan Kela (wife of investor Madhusudan Kela) holds a 5.6% stake in the company. The company has a strong order book of ₹207.5 crore with Indian Railways.
In FY25, the company reported revenue from operations of ₹62.64 crore and net profit of ₹1.40 crore. EBITDA stood at ₹9.08 crore with an EBITDA margin of 14.50%. Total assets as of March 31, 2025 were ₹74.12 crore with a net worth of ₹17.91 crore.
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