G V Electricals IPO
Engineering • ₹42.25 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹130
Lot Size
1000 shares
Issue Size
₹42.25 Cr
Open
31 Jul 2026
Close
07 Aug 2026
Subscription
149×
IPO Schedule
| Issue Open Date | 31 Jul 2026 |
| Issue Close Date | 07 Aug 2026 |
| Allotment Date | 10 Aug 2026 |
| Listing Date | 11 Aug 2026 |
About G V Electricals
G V Electricals Limited is a power distribution infrastructure services provider engaged in providing operation and maintenance (O&M) and allied support services to electricity distribution utilities in India. Incorporated in 1985, the company operates across three business verticals: Network Operation and Maintenance Services, Electrical Infrastructure and Network Development Works, and Metering and Meter Management Services. Its services include maintenance of electricity distribution networks, substations, feeders, poles, and cables; execution of electrical and civil infrastructure works; and metering-related activities such as meter installation, replacement, testing, and reading. The company undertakes projects through contracts awarded by electricity distribution utilities, primarily through competitive tendering processes, as well as direct work orders from certain private sector clients. Its operations involve deploying field personnel, including supervisors, technicians, and linemen, supported by operational vehicles, tools, and equipment to carry out maintenance, inspection, and restoration activities across designated service areas. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment of a portion of certain borrowings availed by the company — Rs 6 crore Funding of working capital requirements — Rs 22 crore General corporate purposes.
Company Details
Founders / Promoters
Mr Sunil Lakshman Vatsa
Founded
1985
Registrar
Mudra RTA Ventures Pvt Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
G V Electricals — IPOFins Verdict
QuantitativeDriven by QIB demand at 91.5x and moderate disclosed risk (6/10), G V Electricals listed at a premium of 21.5% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company operates across multiple electrical distribution service verticals. It provides services through three business segments: Network Operation and Maintenance (O&M) Services, Electrical Infra
- The company claims to have a sizeable order book that provides revenue visibility. As of June 30, 2026, it had 34 ongoing projects with an unexecuted order book of approximately Rs 553.70 crore, prima
- A significant portion of the company’s revenue comes from repeat customers. Revenue from repeat customers accounted for 99.28% in FY24, 97.14% in FY25, and 88.29% in FY26, indicating continued busines
- The company is led by an experienced management team and supported by a large workforce. Its Chairman and Whole-time Director, Jawed Akhtar, and Managing Director, Sunil Lakshman Vatsa, each have over
- The company derives most of its revenue from operation and maintenance (O&M) services, which contributed 76.90% of revenue in FY26, 79.26% in FY25, and 75.81% in FY24. These services are generally exe
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹130
Listing Price
₹158
Listing Gain/Loss
+21.54%
Listing Date
11 Aug 2026
Price Since Listing
Returns are measured against the ₹130 issue price.
Listing
₹158
+21.5%
1 Week
₹138.85
+6.8%
1 Month
₹140
+7.7%
Current
₹140
+7.7%
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Trade G V Electricals on the secondary market
FAQ
What is the price band of G V Electricals IPO?
The price band is ₹130 per share with a lot size of 1000 shares. Minimum investment: ₹1,30,000.
What does G V Electricals do?
G V Electricals Limited is a power distribution infrastructure services provider engaged in providing operation and maintenance (O&M) and allied support services to electricity distribution utilities in India. Incorporated in 1985, the company operates across three business verticals: Network Operation and Maintenance Services, Electrical Infrastructure and Network Development Works, and Metering and Meter Management Services. Its services include maintenance of electricity distribution networks, substations, feeders, poles, and cables; execution of electrical and civil infrastructure works; and metering-related activities such as meter installation, replacement, testing, and reading. The company undertakes projects through contracts awarded by electricity distribution utilities, primarily through competitive tendering processes, as well as direct work orders from certain private sector clients. Its operations involve deploying field personnel, including supervisors, technicians, and linemen, supported by operational vehicles, tools, and equipment to carry out maintenance, inspection, and restoration activities across designated service areas. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Repayment of a portion of certain borrowings availed by the company — Rs 6 crore Funding of working capital requirements — Rs 22 crore General corporate purposes.
Should I apply for G V Electricals IPO?
G V Electricals listed at ₹158 (+21.5% premium to the ₹130 issue price) after 149.0x subscription. IPOFins Score 8/10: Driven by QIB demand at 91.5x and moderate disclosed risk (6/10), G V Electricals listed at a premium of 21.5% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded G V Electricals?
G V Electricals was founded by Mr Sunil Lakshman Vatsa in 1985.