G.V.Electricals IPO: Price Band, Lot Size, Financials & Review
G.V.Electricals IPO listed on BSE on Wed, 12 Aug 2026. The issue was subscribed 169.39x overall.
- Open Date
- 31 Jul 2026
- Close Date
- 7 Aug 2026
Last updated
- Price band
- ₹123 – ₹130
- Lot size
- 1,000 shares
- Min. investment
- ₹2,60,000
- Issue size
- ₹42.25 Cr
- Last GMP
- +₹25
- Subscribed
- 🔥 169.39x
G.V.Electricals IPO details
G.V.Electricals IPO is a ₹42.25 Cr book-building IPO on the SME segment, listing on BSE. It combines a fresh issue of ₹39 Cr (92.31%) with an offer for sale of ₹3.25 Cr (7.69%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Fri, 31 Jul 2026 to Fri, 7 Aug 2026. Allotment was finalised on Mon, 10 Aug 2026, and the shares listed on BSE on Wed, 12 Aug 2026.
The price band is ₹123 to ₹130 per share and the lot size is 1000 shares, so the minimum retail application is ₹2,60,000. Retail investors can apply for up to 2 lots (2,000 shares, ₹2,60,000).
Mudra RTA Ventures Private Limited is the registrar, and Seren Capital Private Limited is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last G.V.Electricals IPO GMP before listing was +₹25 (+19.23% against the upper price band of ₹130), implying an estimated listing price of ₹155. Across 10 days of tracking, GMP ranged from +₹24 (04 Aug) to +₹26 (03 Aug).
| Last GMP | +₹25 |
|---|---|
| GMP vs upper band | +19.23% |
| Estimated listing price | ₹155 |
| Highest (03 Aug) | +₹26 |
| Lowest (04 Aug) | +₹24 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the G.V.Electricals IPO day-wise GMP.
Subscription
Day-wise subscription →G.V.Electricals IPO was subscribed 169.39x overall: QIB 91.55x, NII 273.41x and retail 168.69x.
| Category | Subscribed |
|---|---|
| QIB | 91.55x |
| NII | 273.41x |
| └ bNII (above ₹10 lakh) | 316.28x |
| └ sNII (₹2–10 lakh) | 187.69x |
| Retail | 168.69x |
| Total | 169.39x |
Final figures at the close of bidding on 7 Aug 2026. Category-wise bids, application-wise breakup and allotment chances are on the G.V.Electricals IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Qualified Institutions | 5,92,000 | 28.43% |
| Non-Institutional | 4,50,000 | 21.61% |
| └ BNII | 3,00,000 | 14.41% |
| └ SNII | 1,50,000 | 7.20% |
| Retail Investors | 10,40,000 | 49.95% |
| Total | 20,82,000 | 100.00% |
G.V.Electricals IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,60,000 |
| Retail (Max) | 2 | 2,000 | ₹2,60,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,90,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,10,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,40,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹39 Cr (92.31%) with an offer for sale of ₹3.25 Cr (7.69%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹130, the issue is priced at 10.28x pre-issue earnings and 14.01x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 24.95x (2 companies).
Promoter holding falls from 95.65% before the issue to 67.99% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹12.64 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 10.28x |
| EPS (post-issue) EPS on the enlarged share capital | ₹9.28 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 14.01x |
| Promoter holding (pre-issue) | 95.65% |
| Promoter holding (post-issue) | 67.99% |
G.V. Electricals Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹131.36 Cr to ₹156.66 Cr, and profit after tax rose from ₹4.66 Cr to ₹10.47 Cr. The PAT margin for 31 Mar 2026 was 6.68%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 78.40 | 51.43 | 42.06 |
| Total Income | 156.66 | 131.36 | 112.03 |
| Profit After Tax | 10.47 | 4.66 | 2.80 |
| EBITDA | 17.05 | 8.04 | 6.14 |
| Net Worth | 33.67 | 23.20 | 17.05 |
| Reserve & Surplus | 25.39 | 23.16 | 17.01 |
| Total Borrowings | 16.47 | 7.84 | 4.95 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 36.81 | 10.90 | 17.91 |
| ROCE % | 31.13 | 23.88 | 27.14 |
| Debt / Equity | 0.49 | 0.34 | 0.29 |
| RoNW % | 31.09 | 20.09 | 16.44 |
| Pat Margin % | 6.69 | 3.55 | 2.51 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| G V ELECTRICALS Ltd | 10 | — | 12.64 | 12.64 | 31.09% | 40.66 |
| Rajesh Power Services Ltd | 10 | 10.69 | 79.52 | 79.52 | 35.26% | 225.56 |
| Parth Electricals & Engineering Ltd | 10 | 39.20 | 11.35 | 11.35 | 12.78% | 81.54 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Repayment of a portion of certain borrowings availed by our Company |
| 2 | Funding of Working Capital Requirements |
| 3 | General Corporate Purpose |
About G.V. Electricals Limited
Incorporated in 1985, G.V. Electricals Limited is a power distribution infrastructure service provider engaged in delivering operation, maintenance, and support services primarily to electricity distribution utilities across India.
The company operates through three key business verticals:
- Network Operation and Maintenance (O&M) Services
- Electrical Infrastructure and Network Development Works
- Metering and Meter Management Services
G.V. Electricals provides comprehensive operation and maintenance services for electrical distribution networks across multiple voltage levels, including 33 kV, 11 kV, and Low Tension (LT) networks. Its service portfolio includes the operation and maintenance of 33/11 kV substations, deployment of skilled technical personnel for line maintenance, routine network inspections, fault detection and rectification, and ensuring the efficient functioning of power distribution systems.
The company adheres to globally recognized quality and operational standards and holds the following certifications:
- ISO 9001:2015 – Quality Management System
- ISO 14001:2015 – Environmental Management System
- ISO 45001:2018 – Occupational Health and Safety Management System
- SA 8000:2014 – Social Accountability Standard
As of June 30, 2026, G.V. Electricals had an order book comprising 34 ongoing projects with a total value of approximately ₹553.70 crore, reflecting strong business visibility and a healthy execution pipeline.
As of May 31, 2026, the company employed 4,473 personnel, including 4,332 permanent employees and 141 contract workers, deployed across its corporate offices and project locations to support its nationwide operations.
Promoters
- Jawed Akhtar
- Sunil Lakshman Vatsa
- Furquan Akhtar
Contact details
G.V.Electricals Ltd. Address
Unit no 324, 3rd floor, Plot no 416,
Hammersmith Industrial Premises Co-op Society Ltd,
Off. Sitladevi Temple Road, Mahim,
Mumbai, Maharashtra, 400016
Tel No: 011-43083804
E-mail: info@gvelectricals.com
Website:gvelectricals.com
G.V.Electricals IPO FAQs
- What is the G.V.Electricals IPO price band?
- The G.V.Electricals IPO price band is ₹123 to ₹130 per share.
- What is the G.V.Electricals IPO lot size and minimum investment?
- The G.V.Electricals IPO lot size is 1000 shares. The minimum retail investment is ₹2,60,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (2,000 shares), costing ₹2,60,000.
- When was G.V.Electricals IPO open for subscription?
- G.V.Electricals IPO was open for subscription from Fri, 31 Jul 2026 to Fri, 7 Aug 2026.
- What is the G.V.Electricals IPO subscription status?
- G.V.Electricals IPO was subscribed 169.39x overall: QIB 91.55x, NII 273.41x and retail 168.69x. Day-wise and category-wise figures are on the subscription page.
- What was the G.V.Electricals IPO GMP before listing?
- The last G.V.Electricals IPO GMP before listing was +₹25 (+19.23% against the upper price band of ₹130), implying an estimated listing price of ₹155. Across 10 days of tracking, GMP ranged from +₹24 (04 Aug) to +₹26 (03 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the G.V.Electricals IPO allotment date?
- The G.V.Electricals IPO basis of allotment was finalised on Mon, 10 Aug 2026. You can check your allotment status on the Mudra RTA Ventures Private Limited website.
- What is the G.V.Electricals IPO listing date?
- G.V.Electricals IPO listed on BSE on Wed, 12 Aug 2026.
- Is the G.V.Electricals IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹39 Cr (92.31%) with an offer for sale of ₹3.25 Cr (7.69%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the G.V.Electricals IPO?
- The registrar for the G.V.Electricals IPO is Mudra RTA Ventures Private Limited, and the book running lead manager is Seren Capital Private Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.