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MV Electrosystems shares jump on BSE debut after near-100x subscription
The stock opened at ₹519 and quickly moved higher, topping an intraday high of ₹586 after its ₹400 to ₹425 IPO price band.
MV Electrosystems made a fast start on Dalal Street, with shares opening on the BSE at ₹519 and reaching an intraday high of ₹586 within minutes, according to LiveMint Markets. The initial listing performance translated into a 22% premium versus the upper IPO price band of ₹425, as shares extended gains shortly after trading began.
The company’s public issue was offered between ₹400 and ₹425 per equity share, and LiveMint Markets reported investor demand was strong, with the offer subscribed close to 100 times. Promoters, as outlined in the RHP, said IPO proceeds would be used for working capital requirements.
LiveMint Markets also quoted market participants discussing post-listing positioning. Arun Kejriwal of Kejriwal Research and Investment Services said the issue was expected to list at a premium given the response and that the stock appeared overbought at the prevailing price, while noting a fair value below ₹500.
In additional commentary, Shivani Nyati, Head of Wealth at Swastika Investmart, said allottees could consider booking partial profits while holding the rest with a stop-loss level referenced by the outlet, and that unallotted investors should wait for consistent operational performance before entering.