The Rs 290-crore MV Electrosystems IPO moved into Day 2 with bidding momentum still strong and grey market sentiment improving. Market chatter indicated the grey market premium had risen to about Rs 125 per share, suggesting a possible listing gain of roughly 30% if those levels hold.
Subscription interest has remained firm, with the issue already subscribed 3.64 times and retail participation standing out. That early response points to healthy appetite for the offer, especially among smaller investors tracking IPO demand and short-term listing potential.
Even so, the issue is not being viewed as a straightforward bet. The report flags concerns over net losses and a decline in revenue, factors that have prompted a cautious view from brokerage Swastika Investmart despite the strong subscription data and improving GMP.
For investors following the MV Electrosystems IPO on Day 2, the picture is mixed. Demand indicators and grey market signals look upbeat, but questions around the company’s recent financial performance remain an important part of the assessment.
