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₹130 - 130
G V Electricals Ltd
EngineeringIPOSME
₹130 - 130
Incorporated in 1985, we are a power distribution infrastructure services provider engaged in providing operation and maintenance ("O&M") and allied support services primarily to electricity distribution utilities in India. Our services support such utilities in the operation, maintenance and field-level execution of works relating to their electricity distribution networks ("Network(s)") and associated infrastructure, including distribution lines, feeders, substations, poles and cables forming part of electricity distribution systems used for distribution of electricity to consumers.
Lot1,000Min Invest₹2,60,000Face Value₹10Issue Size₹42 CrFresh Issue₹39 CrOffer for Sale₹3 CrListing Price₹158CMP₹129
Timeline
31 Jul
Bidding opens
7 Aug
Bidding closes
10 Aug
Allotment
11 Aug
Refund & demat credit
12 Aug
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹42 Cr0.33 Cr shares
Fresh Issue₹39 Cr
Offer for Sale₹3 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 49.83% · NII 15.15% · RETAIL 35.02%
Application Sizes
Retail₹2,60,0001-1 lots
sNII₹2,60,000from 2 lots
bNII₹10,40,000from 8 lots
Managers & Registrar
Lead ManagerSeren Capital Private Limited
RegistrarMudra RTA Ventures Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrJawed AkhtarPRMTR1,25,0001.63Sunil Lakshman VatsaPRMTR1,25,0001.63Total2,50,0003.25
Shareholding
CategoryPre IPOPost IPOPromoter Group95.64%67.99%Public4.36%32.01%
Objects of the Issue
- Repayment of a portion of certain borrowings availed by its Company
- Funding of Working Capital Requirements
- General corporate purposes
Anchor Book
Bid Date30-Jul-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 104 | 112 | 131 | 156 |
| Operating ProfitCr | 4 | 6 | 8 | 17 |
| OPM% | 3.9 | 5.5 | 6.1 | 10.9 |
| PBTCr | 3 | 5 | 7 | 14 |
| PATCr | 2 | 3 | 5 | 10 |
| EPS | 2 | 3 | 6 | 13 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 8 |
| ReservesCr | 14 | 17 | 23 | 25 |
| BorrowingsCr | 5 | 5 | 8 | 16 |
| Total AssetsCr | 37 | 42 | 51 | 78 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 1 | 0 | 1 | -3 |
| Investing Cash FlowCr | 0 | -1 | -2 | -5 |
| Financing Cash FlowCr | -1 | 0 | 4 | 7 |
| Net Cash FlowCr | 0 | -1 | 3 | -1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Presence Across Electrical Infrastructure Activities with O&M-based Revenue Contribution.
- Order Book Providing Revenue Visibility.
- Majority of Revenue from Repetitive Customers.
- Experienced Management Team and Manpower Strength.
Strategies · as stated in the DRHP
- Expansion of Electrical Infrastructure and Network Development Works.
- Geographic Expansion and Deeper Penetration in Existing Regions.
- Strengthening Project Delivery and Execution Readiness.
Risks · as stated in the DRHP
- A major portion of the company's revenue is derived from power distribution utilities, and any reduction in business from such customers, adverse changes in procurement practices or failures to secure new contracts may adversely affect its business, results of operations, financial condition and cash flows.
- The company's revenue from operations is substantially dependent on Network Operation and Maintenance ("O&M") Services, and any adverse changes affecting this service vertical may have a material adverse effect on its business.
- The company's business is dependent on securing contracts through competitive tendering processes, and its inability to successfully participate in or secure such tenders, or maintain competitive pricing, may adversely affect the company's business.
- A significant portion of the company's revenue from operations is derived from a limited number of customers, and any reduction in business from such customers may adversely affect its business, results of operations, financial condition and cash flows.
- The company is required to obtain and maintain various statutory licenses, registrations and approvals for its business operations, and any failures to obtain, renew or update such approvals may adversely affect its business, operations and financial condition.
- A significant portion of the company's revenue is derived from repeat customers. Any reduction, delay, cancellation or non-receipt of work orders from such customers may adversely affect its business, results of operations, cash flows and financial condition.