MV Electrosystems shares are set to begin trading on the Bombay Stock Exchange and National Stock Exchange on Thursday, August 6, following a public issue that attracted significant investor interest.
The initial public offering, which opened for subscription on July 30 and closed on August 3, was oversubscribed 200.66 times, with substantial participation from non-institutional investors.
The Haryana-based manufacturer of electrical equipment and components raised ₹290 crore through the issue.
Market sentiment ahead of the listing appears robust, driven by strong speculative activity in the grey market.
The grey market premium for MV Electrosystems shares has risen to ₹120, signaling that investors are willing to pay a significant premium over the issue price.
This surge in speculative pricing reflects the high demand observed during the subscription period and suggests potential upside on the first day of trading.
The company, backed by investor Madhuri Madhusudan Kela, enters the public markets amid a broader trend of strong retail participation in Indian IPOs.