Mumbai, July 31 -- The initial public offer of MV Electrosystems received bids for 4,79,51,900 shares as against 39,87,491 shares on offer, according to stock exchange data at 17:00 IST on Friday (31 July 2026). The issue was subscribed 12.03 times.

The issue opened for bidding on Thursday 30 July 2026 and it will close on Monday, 3 August 2026. The price band of the IPO is fixed between Rs 400 and 425 per share. An investor can bid for a minimum of 34 equity shares and multiples thereof.

The Issue comprises only of fresh issue of equity shares of Rs 5 face value aggregating up to Rs 290 crore.

Of the net proceeds, the company intends to use Rs 180 crore towards funding long term working capital requirements; Rs 21 crore towards invest...