MV ELECTROSYSTEMS LIMITED has submitted its quarterly statement to the stock exchanges, confirming that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). The statement covers the financial quarter and half-year ended September 30, 2026. This disclosure is in compliance with SEBI regulations, assuring stakeholders of the transparent deployment of capital raised.
No Deviation in IPO Fund Utilisation Reported
MV ELECTROSYSTEMS LIMITED has officially confirmed that the funds raised through its Initial Public Offer (IPO) have been utilized exactly as planned, with no deviation or variation observed. This confirmation pertains to the financial quarter and the half-year that concluded on September 30, 2026.
Regulatory Compliance
The company has submitted its statement in accordance with Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This filing ensures transparency and accountability regarding the deployment of proceeds from the public issue.
Fund Utilisation Details
The statement, filed with both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), details the allocation and utilization of the ₹2900.00 million raised via Public Issues on August 6, 2026. The report for the quarter ended September 30, 2026, indicates the following:
- Funding long-term working capital requirements of the Company: Original allocation was ₹1800.00 million, with ₹600.50 million utilized.
- Investment in research design and development activities for new power electronic equipment: Original allocation was ₹210.00 million, with ₹12.00 million utilized.
- General corporate purpose: Original allocation was ₹534.60 million, with ₹0.00 million utilized.
- Issue related expenses: Original allocation was ₹355.40 million, with ₹343.70 million utilized.
The Chief Financial Officer, Ajay Kumar, has signed off on the details from Faridabad on November 13, 2026.
Source: BSE
