Delhi-based power distribution infrastructure services provider GV Electricals launched its maiden public issue on July 31, with a price band of ₹123-130 per share. According to latest reports from LiveMint, the IPO has achieved 21% subscription on day 1, with the retail portion subscribed at 36% and non-institutional investors at 16%. The company aims to raise ₹42.25 crore through its initial public offering of 32.5 lakh shares at the upper end of the price band. The public issue will close on August 4, with share allotment expected to be finalised by August 5. Trading in the company's equity shares is expected to commence on the BSE SME platform on August 7. The IPO lot size has been fixed at 1,000 equity shares with bids accepted in multiples thereafter.
The grey market premium (GMP) has shown an upward trend, reaching ₹25 on the first day of subscription, indicating strong early investor interest. Based on the upper price band of ₹130 and peak GMP of ₹25, the estimated listing price stands at around ₹155, implying a potential listing gain of nearly 19.23%. According to LiveMint, the GMP has fluctuated between ₹18 and ₹25 throughout the past five sessions, signalling positive expectations for a robust listing. However, investors should note that GMP is an unofficial market indicator and does not guarantee listing performance. The company will open its anchor book for a day on July 30, while the public issue will close on August 4.
The IPO comprises a fresh issue of 30 lakh shares worth ₹39 crore and an offer-for-sale (OFS) of 2.5 lakh shares aggregating ₹3.25 crore. As reported by LiveMint, promoters Jawed Akhtar and Sunil Lakshman Vatsa will each sell 1.25 lakh shares through the OFS. The company has received bids for 4,42,000 shares against 20,82,000 shares on offer at 11:18 IST, according to chittorgarh.com. Seren Capital is acting as the book-running lead manager to the GV Electricals IPO. The company will open its anchor investor portion on July 30, while the public subscription will close on August 4.
GV Electricals reported strong financial performance for the year ended March 2026, with profit growing 124.5 percent year-on-year to ₹10.5 crore compared with ₹4.7 crore in the previous year. According to LiveMint, revenue grew 19.2 percent to ₹156.4 crore for the same period. The company's EBITDA more than doubled to ₹17.04 crore from ₹8.04 crore, while the EBITDA margin expanded by 477 basis points to 10.9 percent from 6.13 percent in the previous fiscal year. The strong financial metrics reflect the company's improved operational efficiency and market position in the power distribution infrastructure sector.
Incorporated in 1985, GV Electricals provides operation and maintenance (O&M) and allied support services primarily to electricity distribution utilities in India. As reported by LiveMint, the company's operations are divided into three service verticals: network operation and maintenance, electrical infrastructure and network development works, and metering and meter management services. Of the net proceeds from the fresh issue, ₹6 crore will be utilised for repayment of borrowings, ₹22 crore for working capital requirements, and the remaining amount for general corporate purposes. The proceeds from the OFS will go to the selling promoters. The company's shares are likely to be listed on the BSE SME platform on August 7.
