MV Electrosystems opens 290cr IPO July 30 to August 3
Business
MV Electrosystems, known for its railway tech, is opening its 290-crore-rupee IPO from July 30 to August 3.
Shares are priced at 400 to 425 rupees each (face value 5 rupees), and the company plans to list on both NSE and BSE soon after.
IPO proceeds for operations and research
Most of the funds will support daily operations and research into new railway systems, with a chunk set aside for corporate needs.
The IPO is open to Qualified Institutional Buyers (at least 75% allocation), Non-Institutional Investors (up to 15%), and Retail Individual Investors (up to 10%).
You'll need to bid in lots of 34 shares if you're interested.
The company's also expanding (think new factories in Haryana and fresh contracts for advanced train tech), so it's definitely on a growth track.