G.V. Electricals IPO: Overview
G.V. Electricals Limited, a Mumbai-headquartered electrical contracting and power infrastructure company, is set to launch its ₹42.25 crore SME IPO on July 31, 2026. The issue closes on August 4, 2026, with listing on the BSE SME platform expected on August 7, 2026.
The issue combines a fresh issue of ~₹39.00 crores with a small offer for sale of up to 2,50,000 equity shares by existing shareholders.
G.V. Electricals IPO: Key Dates
|
Event |
Date |
|
Anchor Bidding Date |
July 30, 2026 |
|
IPO Open Date |
July 31, 2026 |
|
IPO Close Date |
August 4, 2026 |
|
Basis of Allotment |
August 5, 2026 |
|
Refunds Initiated |
August 6, 2026 |
|
Credit to Demat Account |
August 6, 2026 |
|
Listing Date (BSE SME) |
August 7, 2026 |
G.V. Electricals IPO: Issue Details
|
Particular |
Detail |
|
Face Value |
₹10 per equity share |
|
Price Band |
₹123 to ₹130 per share |
|
Total Issue Size |
~₹42.25 crores |
|
Fresh Issue |
~₹39.00 crores |
|
Offer for Sale |
Up to 2,50,000 equity shares |
|
Issue Type |
Book Building Issue |
|
Listing |
BSE SME |
IPO Reservation
|
Investor Category |
Shares Offered |
% of Issue |
|
Anchor Investor |
8,88,000 |
27.32% |
|
QIB (ex-Anchor) |
5,92,000 |
18.22% |
|
NII |
4,50,000 |
13.85% |
|
Retail |
10,40,000 |
32.00% |
G.V. Electricals IPO: Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min & Max) |
2 |
2,000 |
₹2,60,000 |
|
S-HNI (Minimum) |
3 |
3,000 |
₹3,90,000 |
|
S-HNI (Maximum) |
7 |
7,000 |
₹9,10,000 |
|
B-HNI (Minimum) |
8 |
8,000 |
₹10,40,000 |
As is typical for SME IPOs, retail investors here have both a minimum and maximum cap of 2 lots (2,000 shares), resulting in a fixed application amount of ₹2,60,000 for every retail applicant.
About G.V. Electricals
G.V. Electricals (formerly G V Electricals Pvt. Ltd.) is one of India's electrical contracting and power infrastructure companies, with nearly 40 years of experience executing large and complex electrical projects across India and select international markets. The company specialises in Low Tension (LT) and High Tension (HT) electrical installations up to 400 kV, offering complete turnkey solutions spanning engineering, design, procurement, installation, testing, commissioning, and electrical consultancy.
Its client base spans industrial plants, power utilities, government departments, commercial buildings, data centres, shopping malls, and major infrastructure projects — a diversified end-market mix for an electrical EPC-style business.
Objects of the Issue
|
Purpose |
Amount |
|
Repayment of a portion of certain borrowings |
₹6.00 crores |
|
Funding working capital requirements |
₹22.00 crores |
|
General corporate purposes |
Balance amount |
Financial Performance
|
Period |
Revenue |
Expense |
PAT |
Assets |
|
FY2024 |
₹112.03 Cr |
₹106.57 Cr |
₹2.80 Cr |
₹42.06 Cr |
|
FY2025 |
₹131.36 Cr |
₹124.61 Cr |
₹4.66 Cr |
₹51.43 Cr |
|
FY2026 |
₹156.66 Cr |
₹142.36 Cr |
₹10.47 Cr |
₹78.40 Cr |
Both revenue and profit have grown consistently across all three years, with PAT more than doubling year-on-year in FY26 — a notably faster pace of profit growth than revenue growth, pointing to improving operating leverage as the business has scaled.
Key Valuation Metrics (FY2026)
|
KPI |
Value |
|
ROE |
36.81% |
|
ROCE |
31.13% |
|
EBITDA Margin |
10.90% |
|
PAT Margin |
6.69% |
|
Debt to Equity Ratio |
0.49 |
|
Basic EPS |
₹12.64 |
|
RoNW |
31.09% |
|
Net Asset Value (NAV) |
₹40.66 |
The debt-to-equity ratio of 0.49 is relatively modest for an EPC/contracting business, and margins, while thin in absolute percentage terms (typical for this sector), come alongside strong ROE and ROCE figures.
Peer Comparison
|
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 |
G.V. Electricals' own P/E isn't listed as "N/A" in the offer document, but its RoNW of 31.09% sits between the two listed peers shown, while both peers operate at a considerably larger revenue scale.
FAQs
Q1. What is the G.V. Electricals IPO price band?
The price band is set at ₹123 to ₹130 per equity share.
Q2. When does the G.V. Electricals IPO open and close?
The IPO opens on July 31, 2026, and closes on August 4, 2026.
Q3. What is the G.V. Electricals IPO lot size?
The minimum (and maximum) retail lot is 2,000 shares, requiring a fixed application amount of ₹2,60,000 at the upper price band.
Q4. Is G.V. Electricals a mainboard or SME IPO?
It is an SME IPO, listing on the BSE SME platform rather than the mainboard exchange.
Q5. What is the total issue size of the G.V. Electricals IPO?
The total issue size is approximately ₹42.25 crores, comprising a fresh issue of ~₹39.00 crores and an offer for sale of up to 2,50,000 equity shares.
Q6. What does G.V. Electricals do?
G.V. Electricals is an electrical contracting company specialising in LT and HT electrical installations up to 400 kV, offering turnkey solutions for industrial plants, power utilities, data centres, and infrastructure projects.
