G V Electricals IPO GMP today is Rs 25. Investors can use this GMP along with price band and subscription status for a better IPO review.
Open
SME IPO
GVELECTRIC
G V Electricals
G V Electricals is a power distribution infrastructure services provider, primarily engaged in offering operation and maintenance (O&M) and allied support services to electricity distribution utilities in India. The company’s operations are organised into three main verticals: Network Operation and Maintenance (O&M) Services, Electrical Infrastructure and Network Development Works, and Metering and Meter Management Services. Its core business involves the operational support and maintenance of electrical distribution networks across various voltage levels, including 33/11 kV substations. This O&M services segment constitutes the largest portion of its revenue. The company also undertakes electrical and civil infrastructure works, such as pole erection, cable laying, and construction of supporting structures. Additionally, it provides metering-related field services, including the installation, replacement, and testing of energy meters. Contracts are typically awarded through competitive tendering processes by utility companies.
IPO Details
Complete IPO information
| Current GMP | ₹25 |
|---|---|
| Estimated Listing Gain | +19.23% |
| Price Band | ₹123.00 - ₹130.00 |
| Issue Price | ₹130.00 |
| Listing Price | TBA |
| Lot Size | 1,000 Shares |
| Issue Type | SME |
| Issue Size | Approx ₹42.25 Cr |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 0.18x |
| Listing Date | 07 Aug 2026 |
| Minimum Investment | ₹2,60,000 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
31 Jul 2026
02
Bidding Closes
04 Aug 2026
03
Allotment
05 Aug 2026
04
Listing
07 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 31 Jul 2026 | ₹25.00 | - | 19.23% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,000 | ₹2,60,000 |
| Retail Maximum | 2 Lot | 2,000 | ₹2,60,000 |
| S-HNI Minimum | 3 Lot | 3,000 | ₹3,90,000 |
| S-HNI Maximum | 7 Lot | 7,000 | ₹9,10,000 |
| B-HNI Minimum | 8 Lot | 8,000 | ₹10,40,000 |
Issue Notes
Important takeaways before applying
Strengths
- A significant portion of revenue is generated from operation and maintenance (O&M) services.
- The existing order book provides visibility for future revenues.
- A majority of the company’s revenue comes from repeat customers.
- The company is led by an experienced management team and has a large workforce.
- It holds multiple ISO certifications for quality, environmental, and safety management
Risks
- A major portion of revenue is derived from a limited number of power distribution utilities.
- The business is substantially dependent on revenue from network operation and maintenance (O&M) services.
- The business relies on securing contracts through competitive tendering processes.
- A significant portion of revenue is derived from repeat customers, and any reduction in orders may have an adverse effect.
- Operations are dependent on the procurement of materials and equipment from third-party suppliers.
Analysis
G.V. Electricals IPO Details
G.V. Electricals Limited is launching its Initial Public Offering (IPO) through the Book-built Issue route. The IPO consists of a combination of a Fresh Issue and an Offer for Sale (OFS). The funds raised through the fresh issue are expected to support the company's expansion plans, working capital requirements, and other corporate objectives, while the Offer for Sale allows existing shareholders to partially monetize their investment.
The equity shares of G.V. Electricals Limited are proposed to be listed on the BSE SME platform. Investors can bid for the IPO during the subscription period within the announced price band.
| Particular | Details |
|---|---|
| IPO Open Date | July 31, 2026 |
| IPO Close Date | August 4, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹123 to ₹130 Per Share |
| Issue Size | Approx ₹42.25 Crores |
| Fresh Issue | Approx ₹39.00 Crores |
| Offer for Sale (OFS) | Approx 2,50,000 Equity Shares |
| Issue Type | Book-built Issue |
| IPO Listing | BSE SME |
Analysis
G.V. Electricals IPO Reservation
G.V. Electricals Limited has allocated shares among different categories of investors in accordance with the SEBI regulations governing book-built IPOs. The reservation structure is designed to provide participation opportunities for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and Anchor Investors.
The allocation below shows the number of equity shares reserved for each investor category and their respective percentage of the total issue. This distribution helps investors understand how the IPO is structured across various classes of applicants.
| Investor Category | Shares Offered | Percentage of Issue |
|---|---|---|
| Anchor Investor | 8,88,000 Shares | 27.32% |
| Qualified Institutional Buyers (QIB) (Excluding Anchor) | 5,92,000 Shares | 18.22% |
| Non-Institutional Investors (NII) | 4,50,000 Shares | 13.85% |
| Retail Individual Investors (RII) | 10,40,000 Shares | 32.00% |
Note: The final allocation of shares may vary depending on the subscription received in each investor category and will be carried out in accordance with SEBI regulations and the Basis of Allotment finalized after the IPO closes.
Analysis
G.V. Electricals IPO Anchor Investors
Before the public subscription opens, G.V. Electricals Limited may allocate a portion of its IPO to eligible Anchor Investors. These institutional investors participate in the IPO one working day before the issue opens and often provide confidence in the offering by committing capital ahead of the public issue.
The details below include the anchor bidding date, the number of shares reserved for Anchor Investors, the anchor issue size, and the applicable lock-in periods prescribed under SEBI regulations.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 30, 2026 |
| Anchor Investors List | |
| Shares Offered | 8,88,000 Shares |
| Anchor Issue Size | [.] Crores |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The Anchor Investors list and anchor issue size will be updated after the completion of the anchor allocation process. The lock-in period for anchor investors is governed by SEBI regulations, with 50% of allotted shares locked for 30 days and the remaining 50% locked for 90 days from the date of allotment.
Analysis
G.V. Electricals IPO Dates
The G.V. Electricals IPO will open for subscription on July 31, 2026, and will close on August 4, 2026. Following the closure of the subscription period, the company is expected to finalize the basis of allotment on August 5, 2026, while refunds for unsuccessful applicants and credit of allotted shares to demat accounts are scheduled for August 6, 2026.
The equity shares of G.V. Electricals Limited are proposed to be listed on the BSE SME platform on August 7, 2026. Investors should keep track of these important IPO dates to ensure timely application, allotment status checking, and listing-day participation.
| IPO Event | Date |
|---|---|
| IPO Open Date | July 31, 2026 |
| IPO Close Date | August 4, 2026 |
| Basis of Allotment | August 5, 2026 |
| Refunds Initiation | August 6, 2026 |
| Credit to Demat Account | August 6, 2026 |
| IPO Listing Date | August 7, 2026 |
Note: The above IPO schedule is based on the announced timeline. These dates are subject to change if revised by the company, the registrar, or the stock exchange. Investors should verify the latest schedule before taking any investment-related action.
Analysis
G.V. Electricals IPO Promoters and Holding Pattern
The promoters of G.V. Electricals Limited play a key role in driving the company's long-term strategy, operational growth, and corporate governance. Their continued shareholding after the IPO reflects their ongoing commitment to the company's future development and business expansion.
Following the public issue, the promoters' shareholding will reduce due to the issuance of new equity shares, while they will continue to retain a significant ownership stake in the company.
Promoters of G.V. Electricals Limited
- Jawed Akhtar
- Sunil Lakshman Vatsa
- Furquan Akhtar
| Particular | Shares | Holding (%) |
|---|---|---|
| Promoter Holding (Pre-Issue) | 82,79,190 | 95.65% |
| Promoter Holding (Post-Issue) | 1,12,79,190 | 67.99% |
Note: The post-issue promoter shareholding is subject to the successful completion of the IPO and allotment of equity shares. The reduction in promoter ownership is primarily due to equity dilution resulting from the fresh issue, while the promoters continue to maintain a controlling stake in the company.
Analysis
G.V. Electricals IPO Objects of the Issue & Utilisation of Proceeds
G.V. Electricals Limited intends to utilize the net proceeds from its Initial Public Offering (IPO) to strengthen its financial position and support future business expansion. The company plans to reduce a portion of its existing debt, improve liquidity by funding working capital requirements, and allocate funds towards general corporate purposes.
The planned deployment of IPO proceeds is expected to enhance the company's operational efficiency, support day-to-day business activities, and provide financial flexibility for future growth opportunities. The proposed utilization of funds is summarized below.
| Purpose | Amount |
|---|---|
| Repayment of a portion of certain borrowings availed by the Company | ₹6.00 Crores |
| Funding of Working Capital Requirements | ₹22.00 Crores |
| General Corporate Purpose | ₹- |
Note: The utilization of IPO proceeds is based on the objectives disclosed in the company's Draft Red Herring Prospectus (DRHP)/Red Herring Prospectus (RHP). The final allocation of funds may vary in accordance with regulatory approvals, business requirements, and management decisions.
Analysis
G.V. Electricals About IPO
G V Electricals Ltd. (formerly G V Electricals Pvt. Ltd.) is one of India’s leading electrical contracting and power infrastructure companies. Further, with nearly 40 years of experience, they have completed large and complex electrical projects across India and selected international markets.
They also specialise in Low Tension (LT) and High Tension (HT) electrical installations up to 400 kV. Their services include engineering, design, procurement, installation, testing, commissioning, and electrical consultancy, providing complete turnkey solutions.
They work with a wide range of clients, including industrial plants, power utilities, government departments, commercial buildings, data centers, shopping malls, and major infrastructure projects.
Moreover, the company also has a vision to be a trusted leader in the electrical industry by delivering innovative and sustainable
solutions that help clients, communities, and stakeholders grow and succeed.
Analysis
G.V. Electricals IPO Company Financial Report
G.V. Electricals Limited has demonstrated steady financial growth over the last three financial years, supported by increasing revenue, improving profitability, and a stronger asset base. The company's consistent operational performance reflects growing demand for its electrical products and effective cost management, resulting in a significant improvement in Profit After Tax (PAT).
The financial summary below provides an overview of the company's revenue, expenses, Profit After Tax (PAT), and total assets for the reported financial years. These figures help investors evaluate the company's historical financial performance before investing in the IPO.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹112.03 Cr. | ₹106.57 Cr. | ₹2.80 Cr. | ₹42.06 Cr. |
| 2025 | ₹131.36 Cr. | ₹124.61 Cr. | ₹4.66 Cr. | ₹51.43 Cr. |
| 2026 | ₹156.66 Cr. | ₹142.36 Cr. | ₹10.47 Cr. | ₹78.40 Cr. |
Amount in ₹ Crores: The above financial information is based on the audited financial statements disclosed by G.V. Electricals Limited in its IPO documents and is intended to provide investors with a summary of the company's historical financial performance.
Analysis
G.V. Electricals IPO Valuation – FY2026
The valuation metrics of G.V. Electricals Limited provide investors with important insights into the company's financial health, profitability, and operational efficiency before the IPO. Key performance indicators such as Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, Earnings Per Share (EPS), Return on Net Worth (RoNW), and Net Asset Value (NAV) help investors assess the company's overall financial strength and valuation.
Based on the FY2026 financial results, G.V. Electricals has reported healthy profitability, improving returns, and a strong balance sheet. The Price-to-Earnings (P/E) ratio will be determined after the final IPO price and post-listing market capitalization are established.
| KPI | Values |
|---|---|
| ROE | 36.81% |
| ROCE | 31.13% |
| EBITDA Margin | 10.90% |
| PAT Margin | 6.69% |
| Debt to Equity Ratio | 0.49 |
| Earning Per Share (EPS) | ₹12.64 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 31.09% |
| Net Asset Value (NAV) | ₹40.66 |
Note: The above valuation figures are derived from the FY2026 financial statements of G.V. Electricals Limited. The final P/E ratio will be available after the IPO price is finalized and the company's shares are listed on the BSE SME platform.
Analysis
G.V. Electricals IPO Peer Group Comparison
G.V. Electricals Limited operates in the electrical engineering and power infrastructure sector. Comparing the company with its listed industry peers helps investors evaluate its relative financial performance, profitability, valuation, and operational efficiency before making an investment decision.
The comparison below highlights key financial metrics including Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and total income of comparable listed companies in the industry.
| Company | EPS | P/E Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Rajesh Power Services Limited | 79.52 | 10.69 | 35.26% | 225.56 | ₹1,633.41 Cr. |
| Parth Electricals & Engineering Limited | 11.35 | 39.20 | 12.78% | 81.54 | ₹200.95 Cr. |
Note: The peer comparison is based on the latest publicly available financial information of the respective companies. Investors should compare G.V. Electricals Limited with its peers along with other factors such as business model, growth prospects, profitability, risk profile, and valuation before making any investment decision.
Analysis
IPO Lead Managers aka Merchant Bankers
- Seren Capital Pvt. Ltd.
FAQ
G V Electricals IPO FAQs
G V Electricals IPO price band is Rs 123.00 to Rs 130.00. Check the latest issue price, lot size and GMP together before applying.
G V Electricals IPO open date is 31 Jul 2026, close date is 04 Aug 2026, and listing date is 07 Aug 2026.
G V Electricals IPO lot size is 1,000 shares. The minimum retail investment is Rs 2,60,000.
G V Electricals is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
G V Electricals IPO subscription status currently shows Retail 0.33x, QIB 0x, Overall 0.18x.
G V Electricals is a power distribution infrastructure services provider, primarily engaged in offering operation and maintenance (O&M) and allied support services to electricity distribution utilities in India. The company’s operations are organised into three main verticals: Network Operation and Maintenance (O&M) Services, Electrical Infrastructure and Network Development Works, and Metering and Meter Management Services. Its core business involves the operational support and maintenance of electrical distribution networks across various voltage levels, including 33/11 kV substations. This O&M services segment constitutes the largest portion of its revenue. The company also undertakes electrical and civil infrastructure works, such as pole erection, cable laying, and construction of supporting structures. Additionally, it provides metering-related field services, including the installation, replacement, and testing of energy meters. Contracts are typically awarded through competitive tendering processes by utility companies.
G V Electricals IPO issue size is 42.25 and the expected allotment date is 05 Aug 2026.