Listing Performance
▲ 21.54%
Issue Price
₹130
Listing Price
₹158
Listed On
12 Aug 2026
- Price Band
- ₹123 – ₹130
- Lot Size
- 1000
- Lot Value
- ₹1,30,000
- Open Date
- 31 Jul 2026
- Close Date
- 07 Aug 2026
- Min Investment
- ₹1,30,000
About G.V.Electricals
Provides operation and maintenance and allied support services to electricity distribution utilities in India.
Use of IPO Proceeds
Total allocation: ₹33.49 Cr (excludes issue expenses)
Promoters
Jawed Akhtar
Chairman and Whole Time Director · age 56
30 years
Bachelor of Science in Engineering
Pre-issue: 41.51% · Post-issue: 29.36%
Sunil Lakshman Vatsa
Managing Director · age 52
30 Years
Bachelor of Engineering
Pre-issue: 41.51% · Post-issue: 29.36%
Furquan Akhtar
Chief Executive Officer · age 22
1 year
B.com (Hons.)
Pre-issue: 1.94% · Post-issue: 1.43%
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: BSE SME
Strengths (3)
- •Significant revenue concentration from top 10 customers with 94.76% of FY26 revenue
- •Diversified service offerings across O&M, infrastructure works, and metering services
- •Established relationships with electricity distribution utilities across multiple regions
Risk Factors (6)
- •Revenue concentration risk from power distribution utilities; reduction in business or failure to secure new contracts adversely impacts operations.
- •First IPO with no formal market history; offer price may not reflect post-listing market price; no assurance of active trading.
- •No standard methodologies in industry; reliance on commissioned industry report with unverified assumptions may lead to incorrect investment decisions.
- •Peer group information derived from public sources without independent verification; accuracy and reliability not guaranteed.
- •Industry data based on estimates and projections subject to change; risks from economic circumstances differing from projections.
- •Infomerics report not a buy recommendation; selective review may lead to inaccurate assessments; no legally binding obligations.
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
▲ Listed +21.5%Grey market premium is positive at +20%, but subscription data is not yet available so demand cannot be confirmed. A cautious, limited-data view — weigh the company fundamentals before applying.
Pre-listing prediction: NEUTRAL
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,30,000 |
| Retail (max) | 1 | 1,000 | ₹1,30,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,60,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,10,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,40,000 |
Subscription Status
Subscription data will appear once bidding begins.
Allotment Statistics
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
31 Jul 2026 · Fri
Issue Closes
07 Aug 2026 · Fri
Bidding Cut-off (UPI Mandate)
07 Aug 2026 · 5:00 PM IST
Allotment
05 Aug 2026 · Wed
Listing
12 Aug 2026 · Wed
Issue Opens
31 Jul 2026 · Fri
Issue Closes
07 Aug 2026 · Fri
Bidding Cut-off (UPI Mandate)
07 Aug 2026 · 5:00 PM IST
Allotment
05 Aug 2026 · Wed
Listing
12 Aug 2026 · Wed
IPO Details
| Registrar | Mudra RTA Ventures Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹42.25 Cr |
| Fresh Issue | ₹39.00 Cr |
| OFS Size | ₹3.25 Cr |
| Lead Managers | Seren Capital Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 156.41 | 10.47 | 12.64 | 10.28 | 31.09% |
| FY25 | 131.24 | 4.66 | 5.63 | 23.09 | 20.09% |
| FY24 | 111.8 | 2.8 | 3.39 | 38.40 | 16.44% |
| FY23 | 111.8 | 2.8 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Total Income | — | 112.03 | 131.36 | 156.66 |
| EBITDA | 6.14 | 6.14 | 8.04 | 17.05 |
| Net Worth | 17.05 | 17.05 | 23.2 | 33.67 |
| Total Borrowings | 4.95 | 4.95 | 7.84 | 16.47 |
| Cash Flow — Operating | — | 0.39 | 1.08 | -3.31 |
| Cash Flow — Investing | — | -1.2 | -2.06 | -5.43 |
| Cash Flow — Financing | — | -0.06 | 3.72 | 7.32 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
10.3x
Price ÷ EPS
EPS (FY26)
₹13
Earnings per share
RoNW
31.09%
Return on net worth
ROCE
34.01%
as reported in filing
EBITDA margin
10.9%
EBITDA ÷ revenue
Price/NAV
4.36x
Price ÷ NAV (as reported)
Check the valuation yourself
Company Fundamentals
13 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | — |
| Equity Shares (Pre-Issue) | 82,79,190 |
| Equity Shares (Post-Issue) | 1,12,79,190 |
Source: G.V.Electricals offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
- Jawed Akhtar(Promoter)+41.51%
- Sunil Lakshman Vatsa(Promoter)+41.51%
- Convivial Advisors LLP(Promoter Group)+4.35%
- Bindu Sunil Vatsa(Promoter Group)+3.40%
- Rutvik Sunil Vatsa(Promoter Group)+2.91%
- Nahid Naazli(Promoter Group)+2.43%
- Furquan Akhtar(Promoter Group)+1.94%
- Areeba Akhtar(Promoter Group)+1.94%
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in G.V.Electricals's filing.
Source: G.V.Electricals offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Jawed Akhtar₹3.25 Cr
- Sunil Lakshman Vatsa1,25,000 sh
Source: G.V.Electricals offer document (DRHP/RHP).
Board & Management
Board of Directors (2)
- Jawed Akhtar₹0.18 Cr p.a.
Chairman & Whole-Time Director
Bachelor of Science in Engineering
30 years overall experience; Senior Manager at Bemco Batalco, Kingdom of Bahrain
- Sunil Lakshman Vatsa₹0.18 Cr p.a.
Managing Director
Bachelor of Engineering
30 years overall experience; joined in 1996
Key Managerial Personnel (3)
- Furquan Akhtar
CEO
B.com (Hons.)
Approximately 1 year; associated with company since May 2025
- Dharmendra Shahi₹0.05 Cr p.a.
CFO
PG Diploma in Business Administration with Computer Applications
22 years overall; associated with company since 2004
- Aarti Garg
Company Secretary and Compliance Officer
B. Com (Hons.), Company Secretary, L.L.B
13 years overall; associated with company since May 2025
Source: G.V.Electricals offer document (DRHP/RHP).
Industry & Market
Per Infomerics Analytics and Research Private Limited, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| G V Electricals Ltd | 10.28 | 12.64 | 31.09 | 40.66 |
| Rajesh Power Services Limited | 10.69 | 79.52 | 35.26 | 225.56 |
| Parth Electricals & Engineering Limited | 39.2 | 11.35 | 12.78 | 81.54 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Mudra RTA Ventures Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the G.V.Electricals IPO opening?
The G.V.Electricals IPO opens on 31 Jul 2026 and closes on 07 Aug 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the G.V.Electricals IPO?
The price band for the G.V.Electricals IPO is ₹123 to ₹130. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the G.V.Electricals IPO?
The minimum lot size is 1000 shares with a minimum investment of ₹1,30,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of G.V.Electricals IPO today?
The latest Grey Market Premium for G.V.Electricals is ₹26 (+20.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the G.V.Electricals IPO list on NSE and BSE?
The G.V.Electricals IPO is expected to list on 12 Aug 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the G.V.Electricals IPO allotment status?
The registrar for this IPO is Mudra RTA Ventures Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the G.V.Electricals IPO a mainboard or SME issue?
G.V.Electricals is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the G.V.Electricals IPO?
You can apply for the G.V.Electricals IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of G.V.Electricals IPO?
Based on the current GMP of ₹26, the expected listing price of G.V.Electricals is ₹156 (issue price ₹130 + GMP ₹26). Note that GMP is unofficial grey market data and actual listing price may differ.
Should I subscribe to G.V.Electricals IPO?
Based on our algorithmic analysis, G.V.Electricals IPO is rated NEUTRAL with medium confidence. Grey market premium is positive at +20%, but subscription data is not yet available so demand cannot be confirmed. A cautious, limited-data view — weigh the company fundamentals before applying. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Maharaja & Speedex India | 18 Sep 2026 | +34.41% |
| Panchatv Bharat | 18 Sep 2026 | -7.89% |
| Om Galaxy | 18 Sep 2026 | +0.22% |
Related IPOs
Related Articles
How to Compare an IPO With Listed Peers Using Key Ratios and Growth Metrics
A practical framework for Indian retail investors on comparing an IPO with its listed peers using P/E, P/B, EV/EBITDA and growth metrics, illustrated with the NSE vs BSE case study.
Read more →
How-ToMultiple IPO Apps Won't Boost Your Allotment: The PAN Rule Explained
Many retail investors think using PhonePe, BHIM and their broker app for the same IPO creates multiple chances. It doesn't. Here is how SEBI's PAN rule actually works and the only legitimate way to improve household allotment odds.
Read more →
How-ToHow to Analyse an Indian IPO in Under 60 Minutes: A Retail Investor's Checklist
A practical, DRHP-first framework retail investors can use to size up an Indian IPO quickly, covering financials, valuation, peer comparison, use of proceeds and risk factors.
Read more →