MV Electrosystems Limited Files DRHP for ₹2,900 Million IPO

New Delhi, November 28: MV Electrosystems Limited has announced that it has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for launching its Initial Public Offering (IPO). The IPO will be a fresh issue of up to ₹2,900 million, with no offer for sale element. The shares of the company are expected to list on NSE and BSE. Sundae Capital Advisors Private Limited will be the book-running lead manager of the issue, while KFin Technologies Limited will be the registrar.

MV Electrosystems Limited Business Profile

MV Electrosystems Limited is an Indian company that is engaged in the design, development and manufacturing of electrical and power electronics equipment for railway rolling stock. Its product portfolio includes products such as, Auxiliary converters, Vehicle control units, Driver display units, and Cable protection and interconnect products.

MV Electrosystems Order Book Details

As of October 31, 2025, the company had a total order book of ₹194.96 crore. This includes ₹12.56 crore worth of AMC orders for 105 propulsion sets, a ₹2.51 crore developmental order for the WAP-7 propulsion system, and ₹0.15 crore worth of AMC for developmental work.

MV Electrosystems Financial Performance

The company’s revenue from operations was ₹680.71 million in FY23. It decreased to ₹499.57 million in FY24, but jumped to ₹626.37 million in FY25. Profit before tax declined from ₹17.63 million in FY23 to ₹10.16 million in FY24. It increased to ₹25.65 million in FY25. However, the company posted a loss of ₹15.18 million for April–July 2025 quarter.

What’s Ahead for MV Electrosystems?

MV Electrosystems has filed for ₹2,900 million IPO, but is yet to announce other key details about the IPO. Furthermore, the company has posted mixed financials, with a loss in the April-July 2025 period. It remains to be seen at what price the IPO band is announced, and how much demand the issue witnesses once it opens for subscription.

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