MV Electrosystems IPO Day 3 Update: Latest GMP & Subscription Status

The MV Electrosystems IPO has entered its final day of bidding on August 3, giving investors the last opportunity to apply before the issue closes. The IPO, which opened on July 30, is priced in the range of ₹400 to ₹425 per share and aims to raise ₹290 crore through a fresh issue of equity shares. The issue has received a strong response from investors, with overall subscription reaching 15.42 times by 10:18 AM on Day 3. The retail category was subscribed 43.19 times, while the non-institutional investor (NII) portion was booked 25.89 times. The qualified institutional buyer (QIB) segment was subscribed 0.92 times at the same time. In the grey market, the IPO was trading at a premium of ₹120 per share, reflecting positive investor sentiment ahead of the allotment. Brokerage opinions on the issue remain mixed. Some market experts have recommended subscribing to the IPO, mainly for potential listing gains, while others have advised investors to remain cautious. A few brokerage firms have not assigned any rating to the public issue. According to the IPO schedule, the share allotment is expected to be finalised on August 4, while the shares are likely to be listed on the BSE and NSE on August 6. Investors who have not yet applied can submit their bids before the subscription window closes today.