G.V.Electricals IPO- Company Analysis
G.V.Electricals IPO under the SME IPO category is a book-build issue of Rs. 42.25 Cr by G.V.Electricals Limited, which is a power distribution infrastructure service provider that provides operation, maintenance, and support services mainly to India's electricity distribution utilities.
The company operates in three business verticals:-
- Network Operation and Maintenance (“O&M”) Services,
- Electrical Infrastructure and Network Development Works, and
- Metering and Meter Management Services.
The company supports maintenance and operations of electrical distribution systems at various voltage levels, including 33 kV, 11 kV, and LT networks. It provides O&M for 33/11 kV substations and deploys technical staff for field tasks like line maintenance, network inspection, and fault rectification.
G.V.Electricals IPO Details
The G.V.Electricals IPO date of opening is 31 Jul 2026; its initial public offering will end on 04 Aug, IPO allotment on Aug 05 and refund initiation on Aug 06, 2026.
The Rs. 42.25 crore new SME IPO comprises a combination of a fresh issue of 0.30 crore shares (Rs. 39 Cr) and an offer for sale of 0.03 crore shares (Rs. 3.25 Cr).
The G.V.Electricals IPO listing date (expected) might be Friday, Aug 07, 2026, and listing on the BSE and SME.
The G.V.Electricals IPO price band is Rs. 123 to Rs. 130.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Jul 31, 2026 |
|
IPO Closing Date |
Aug 04, 2026 |
|
IPO Allotment Date |
Aug 05, 2026 |
|
Refund Initiation |
Aug 06, 2026 |
|
IPO Listing Date |
Aug 07, 2026 |
Click to open demat account and apply for the IPO.
Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
78.40 |
51.43 |
42.06 |
|
Total Income |
156.66 |
131.36 |
112.03 |
|
Profit After Tax |
10.47 |
4.66 |
2.80 |
|
EBITDA |
17.05 |
8.04 |
6.14 |
|
Net Worth |
33.67 |
23.20 |
17.05 |
|
Reserves and Surplus |
25.39 |
23.16 |
17.01 |
|
Total Borrowing |
16.47 |
7.84 |
4.95 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
-330.99 |
108.18 |
38.67 |
|
Net Cash Flow Investing Activities |
731.94 |
371.95 |
-5.89 |
|
Net Cash Flow Financing Activities |
-543.08 |
-205.64 |
-119.82 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- Repayment of a portion of certain borrowings availed by the Company. ~ Rs. 6 Cr.
- Funding of Working Capital Requirements. ~ Rs. 22 Cr.
- General Corporate Purposes.
Listed Peers of G.V.Electricals Ltd.
|
Name of Company |
Face Value (Rs. ) |
Basic EPS (Rs. ) |
PE Ratio (x) |
|
Rajesh Power Services Limited |
10 |
79.52 |
10.69 |
|
Parth Electricals & Engineering Limited |
10 |
11.35 |
39.20 |
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
36.81% |
|
ROCE |
31.13% |
|
Debt/Equity |
0.49 |
|
RoNW |
31.09% |
|
PAT Margin |
6.69% |
|
EBITDA Margin |
10.90% |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 12.64 from the last year, the resulting P/E ratio is 10.28x.
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IPO's Strengths
- Presence Across Electrical Infrastructure Activities with Major Revenue from O&M Services
- Order Book Providing Revenue Visibility
- Majority of Revenue from Repetitive Customers
- Experienced Management Team and Manpower Strength.
IPO's Weaknesses
- SME Platform Constraints
- Market Risk.
G.V.Electricals IPO GMP
G.V.Electricals IPO GMP today is Rs. 22 as of 28 July 2026, while writing this information.
G.V.Electricals IPO Summary
|
IPO Opening & Closing Date |
31 Jul, 2026 to 04 Aug, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 123 to Rs. 130 per Share. |
|
Lot Size |
1000 Shares |
|
Issue Size |
32,50,000 Shares (Rs. 42 Cr) |
|
Offer for Sale |
2,50,000 Shares (Rs. 3 Cr) |
|
Fresh Issue |
27,20,000 Shares (Rs. 35 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Bookbuild Issue |
|
Registrar |
Mudra RTA Ventures Private Limited |
IPO Lot Details
Retail investors can invest in a minimum of 2 Lots (2000 Shares) for Rs. 2,60,000 and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3000 Shares) for Rs. 3,90,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
G.V.Electricals IPO Allotment Status
To check the G.V.Electricals IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of G.V.Electricals Ltd.
- Furquan Akhtar
- Jawed Akhtar
- Sunil Lakshman Vatsa.
|
Pre-Issue Promoter Shareholding |
95.65% |
|
Post-Issue Promoter Shareholding |
67.99% |
IPO Lead Managers
- Seren Capital Pvt. Ltd.
Dividend Policy
The company has not paid a dividend during the last three FYs.
Conclusion
An opportunity to invest in a developing electrical infrastructure and power distribution services company with robust revenue development and increasing profitability is presented by the G.V. Electricals IPO. Before investing, investors should carefully consider the risks associated with SME IPOs, valuation, market conditions, and the company's financial performance.
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Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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To Read the Prospectus of the company, click here to download the DRHP.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
