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MV Electrosystems gets SEBI’s approval for Rs 290 crore IPO

27 Apr 2026 Evaluate

MV Electrosystems has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 290 crore through an initial public offering (IPO). The company's maiden public offering is a completely fresh issue of equity shares.

Proceeds from the fresh issue worth Rs 180 crore will be used for funding long-term working capital requirements of the company, Rs 21 crore for investment in research, design and development activities for new power electronic equipment, and a portion will be used for general corporate purposes. Sundae Capital Advisors is the book-running lead manager to the company's public issue. The shares of the company are proposed to be listed on BSE and NSE. 

MV Electrosystems is a technology-driven company engaged in the design, development, assembly and manufacturing of electrical & power electronics equipment used in railway rolling stock. Its product portfolio includes switchgear panels for railway coaches, cable protection and management products and electrical components.


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