New Delhi, July 31 -- The Madhuri Madhusudhan Kela-backed initial public offering (IPO) of MV Electrosystems opened for subscription on Wednesday, July 30, and will remain open until Monday, August 3. The company has fixed the price band for the issue at Rs.400-425 per share.

According to the IPO schedule, the basis of allotment is expected to be finalised on Tuesday, August 4. Shares are likely to be credited to the demat accounts of successful applicants on Wednesday, August 5, while refunds to unsuccessful bidders will be initiated on the same day. The shares are tentatively scheduled to debut on the BSE and NSE on Thursday, August 6.

Investor sentiment toward the IPO is very strong, as its grey market premium (GMP) is Rs.125 today. ...