G V Electricals IPO
G V Electricals LtdSME
This IPO has listed.
- Open date
- 31 Jul 2026
- Close date
- 7 Aug 2026
- Min. Investment
- ₹2,60,000
- Lot Size
- -
- Fresh Issue
- ₹39.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers91.55x
- Non-Institutional Investors168.54x
- Retail-Individual Investors168.69x
- Total149.31x
Schedule
- Completed: IPO open date31 Jul 2026
- Completed: IPO close date7 Aug 2026
- Completed: Allotment date10 Aug 2026
- Completed: Funds unblock or debit11 Aug 2026
- Completed: Tentative listing date12 Aug 2026
About
Promoter shareholding in G V Electricals Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Jawed Akhtar | 34,36,995 | 41.51% | 33,11,995 | 29.36% |
| Sunil Lakshman Vatsa | 34,36,995 | 41.51% | 33,11,995 | 29.36% |
| Furquan Akhtar | 1,60,800 | 1.94% | 1,60,800 | 1.43% |
| Nahid Naazli | 2,01,000 | 2.43% | 2,01,000 | 1.78% |
| Areeba Akhtar | 1,60,800 | 1.94% | 1,60,800 | 1.43% |
| Bindu Sunil Vatsa | 2,81,400 | 3.40% | 2,81,400 | 2.49% |
| Rutvik Sunil Vatsa | 2,41,200 | 2.91% | 2,41,200 | 2.14% |
G V Electricals IPO Strengths & Risks
- 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the 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.
- Risks Relating to the 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: 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.
- Risks Relating to the Business: The company's business is dependent on procurement of electrical materials and equipment from third-party suppliers, and any significant fluctuation in prices or disruption in supply of such materials, including dependence on a limited number of suppliers, may adversely affect its business.
- Risks Relating to the Business: The company's business operations is dependent on availability and deployment of skilled and semi-skilled manpower, and any inability to effectively manage or deploy such workforce may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's ongoing order book may not be indicative of assured revenues, as a significant portion of its projects are executed under rate contracts, maintenance arrangements and work order-based engagements, where actual execution is dependent on issuance of specific work orders and operational requirements of customers.
- Risks Relating to the Business: The company's business is working capital intensive and any inability to arrange adequate funding or efficiently manage its working capital, including trade receivables, inventories and project-related cash flows, may adversely affect its liquidity, operations and financial condition.
- Risks Relating to the Business: There are certain outstanding legal proceedings involving the Company, primarily relating to labour matters and tax proceedings, and any adverse outcome in such proceedings may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The Company has experienced negative cash flows in the past and may experience negative cash flows in the future, which may adversely affect its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: Certain of the company's premises, including its registered office, area offices, warehouses and guest houses, are occupied under lease, rent or leave and license arrangements, and any non-renewal, termination or dispute in relation to such arrangements may adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's business is dependent on timely and efficient execution of operation and maintenance services as well as electrical infrastructure works, and any delay or deficiency in execution may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: A significant portion of the company's revenue from operations is concentrated in certain geographical regions, and any adverse developments affecting such regions may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: There has been certain delays in payment of statutory dues in the past. Any delay in payment of statutory dues in future, may result in the imposition of penalties and in turn may have an adverse effect on the company's business, financial condition, results of operation and cash flows.
- Risks Relating to the Business: Certain discrepancies, clerical errors and delays in filings with the Registrar of Companies may expose it to regulatory action and penalties, which could adversely affect the company's business, financial condition and reputation.
- Risks Relating to the Business: The Company has previously delayed compliance with Corporate Social Responsibility ("CSR") obligations under the Companies Act, 2013 and any future non-compliance with applicable CSR provisions may expose it to penalties and regulatory action.
- Risks Relating to the Business: The company has been unable to trace certain historical corporate and secretarial records, which may expose it to regulatory scrutiny and could adversely affect its business and reputation.
- Risks Relating to the Business: The company's operations is spread across multiple project locations, and any inability to effectively manage and coordinate such geographically dispersed operations may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's operations involve engagement of third-party contractors and subcontractors for certain activities, and any failures on their part to perform their obligations in a timely and satisfactory manner may adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: Any inability to pass on increases in labour, material, logistics and subcontracting costs to the company's customers may adversely affect its margins and financial performance.
- Risks Relating to the Business: The company has certain contingent liabilities and commitments, which, if they materialize, may adversely affect its results of operations, financial condition and cash flows.
- Risks Relating to the Business: The Company uses certain trademarks which are not yet registered in its name under the Trade Marks Act, 1999, and any delay or failures in obtaining such registration may expose it to risks relating to intellectual property claims or restrictions on the use of such trademarks.
- Risks Relating to the Business: The company's payroll processing is outsourced to third-party service providers, and any errors, delays or non-compliance in payroll processing may adversely affect its operations and statutory compliance.
- Risks Relating to the Business: The company's operations involve execution and maintenance of electrical distribution systems, which expose it to operational and safety risks that could result in injury to persons or damage to property and adversely affect its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's business requires it to furnish bank guarantees in favour of the company's customers, and any invocation of such bank guarantees may adversely affect its financial condition, liquidity and reputation.
- Risks Relating to the Business: The company relies on third-party logistics and transportation providers for procurement and movement of materials and equipment required for execution of its projects, and any disruption in such services may adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company operates in a competitive industry, and increased competition may adversely affect its ability to secure projects and service assignments, which may result in reduced revenues, lower margins or loss of market share.
- Risks Relating to the Business: The company's failure to identify and adapt to evolving industry trends, technological developments and customer requirements in the power distribution and electrical infrastructure sector may materially and adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company's business is dependent on the experience and expertise of its Promoters, Key Managerial Personnel and Senior Management Personnel, and any inability to retain such personnel may adversely affect the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company may be subject to third-party claims, contractual liabilities or invocation of performance guarantees arising from defects in execution of projects, accidents at project sites or damage to third-party property or infrastructure, which may adversely affect its business, financial condition, results of operations and reputation.
- Risks Relating to the Business: The Promoters (including Promoter Group) and Directors hold 95.65% of the Equity Shares of the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect it against certain operating hazards, and this may have a material adverse effect on its business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's trade licenses are subject to verification, renewal and cancellation by municipal authorities, and any adverse action may affect its operations.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Offer price.
- Risks Relating to the Business: The company's industry is labour intensive, and its business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by the company's employees or those of its suppliers.
- Risks Relating to the Business: Employee misconduct, fraud, negligence or errors may expose it to operational, regulatory and reputational risks, which may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company has incurred significant indebtedness which exposes it to various risks which may have an adverse effect on its business and results of operations.
- Risks Relating to the Business: The company is subject to the restrictive covenants of banks in respect of the Loans/Credit Limits and other banking facilities availed from them.
- Risks Relating to the Business: Loans availed by the Company has been secured on personal guarantees of the company's promoters. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by the company's Promoters.
- Risks Relating to the Business: The company could be harmed by employee misconduct or errors that are difficult to detect, and any such incidence could adversely affect its financial condition, results of operations and reputation.
- Risks Relating to the Business: The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- Risks Relating to the Business: The Company will not receive any proceeds from the Offer for Sale portion of the Offer.
- Risks Relating to the Business: The Objects of the Offer for which funds are being raised, are based on the company's management estimates and has not been appraised by any bank or financial institution or any independent agency.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds will be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: The company's ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Risks Relating to the Business: Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- Risks Relating to the Business: The company's Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the Offer, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Risks Relating to the Business: There is no guarantee that the Equity Shares of the Company will be listed on the Stock Exchanges in a timely manner or at all.
- Risks Relating to the Business: Certain sections of this Red Herring Prospectus disclose information from industry report commissioned and paid for by it and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Risks Relating to the Business: Risks inherent to power sector and electrical infrastructure projects may adversely affect the company's business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Prior to handing over completed projects, inspections are undertaken by officials of public sector units to ascertain errors or deviations from approved procedures or drawings while executing projects, and any adverse findings may adversely affect the company's business and results of operations.
- Risks Relating to the Business: Maintaining the company's reputation and relationships with existing and potential customers is important to its business. Any damage to the company's reputation may adversely affect its ability to secure new projects, obtain repeat orders and maintain customer relationships, which may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company's operations is subject to safety, health, environmental, labour and other applicable laws and regulations. Any non-compliance with such laws or occurrence of accidents or safety-related incidents may expose it to penalties, liabilities, operational restrictions and project delays, which may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The Offer price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the offer price and you may not be able to sell your Equity Shares at or above the offer Price.
- Risks Relating to the Business: The company's Promoters or directors does not possess experience in managing publicly listed companies.
