MV Electrosystems, the Haryana-based manufacturer of electrical and power electronics equipment for railway rolling stock, will open its initial public offering (IPO) for subscription on July 30.
The company aims to raise up to ₹290 crore through the public issue, which comprises entirely a fresh issue of equity shares.
The anchor investor portion will open for a day on July 29, while the public issue will remain open for subscription until August 3.
The company has fixed the price band at ₹400-425 per equity share. Investors can bid for a minimum of 34 shares and in multiples of 34 thereafter.
MV Electrosystems had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in November 2025 and received the regulator's approval in April 2026.
The company manufactures electrical and power electronics equipment used in railway rolling stock, including IGBT-based three-phase drive propulsion systems for electric locomotives, switchgear panels for railway coaches and electric multiple units (EMUs), cable protection and management products, and other electrical components, systems and sub-systems.
The company, which focuses on the research, design and development of electrical equipment and power electronics systems for the railway sector, plans to use the IPO proceeds to meet long-term working capital requirements, invest in research and development of new power electronic equipment, and for general corporate purposes.
On the financial front, MV Electrosystems reported a net loss of ₹12.6 crore for the financial year ended March 2026, compared with a net profit of ₹1.4 crore in the previous fiscal. Revenue declined 21% to ₹49.4 crore from ₹62.6 crore during the same period.
Sundae Capital Advisors is the sole book-running lead manager to the issue.
The company is expected to finalise the basis of allotment on August 4, with its equity shares scheduled to list on the stock exchanges on August 6.