MV Electrosystems Ltd. IPO

We are a technology-driven company engaged in the design, development, assembly and manufacturing of electrical & power electronics equipment used in railway rolling stock including IGBT based 3-Phase Drive Propulsion equipment for electric locomotives, switchgear panels for railway coaches & EMU’s, cable protection & management products and electrical components, systems & sub-systems. On September 15, 2025, we have received approval from CLW, Indian Railways for our in-house designed and developed IGBT Based 3-Phase Drive Propulsion equipment (“3-Phase Propulsion Equipment”) which includes traction converter-inverter system, auxiliary converter, vehicle control units / train control management system and driver display units - all designed and developed by our Company indigenously to meet international safety and performance standards. Our Vehicle Control Unit is developed on high performance microprocessor based modular systems that provide complete traction and propulsion control of the entire locomotive hauled train with continuous monitoring and extensive fault diagnostics. Our Company commenced the commercial supplies to Indian Railways for 3-Phase Propulsion Equipment in March 2026. Further, our R&D Centre has been accorded recognition by Department of Scientific and Industrial Research (“DSIR”), Ministry of Science and Technology, Government of India on June 12, 2026.

We operate within India’s rail infrastructure transition driven by mandated broad-gauge electrification, Make-in-India procurement requirements and the expansion of the network, including upcoming high-speed corridors. We are focussed towards research, design & development of electrical equipment & power electronics systems for usage in railways industry and to play a strategic role as a domestic manufacturer with technical capabilities, indigenous designed and developed propulsion equipment and in-house assembling cum manufacturing facilities. The ingenious in-house design & development of 3-Phase Propulsion Equipment for 6000 HP Locomotive is a key achievement of our Company which will lead the way for us to create various other energy efficient railway power conversion systems. Such developments requires expertise in multiple domains including, Electrical Engineering, Embedded Design, Software Development, Mechanical Engineering, Thermal Design & Instrumentation. With this in-house development and approval from CLW, we have become one among the global players that possess their proprietary technology for rail propulsion equipment.

As Indian Railways moves towards increased speed and efficiency of the trains / locomotives, the need for the development of the advanced / new generation power conversion systems including propulsion equipment will continue to be there. Our team at Research, Design & Development centre based at Faridabad, Haryana, comprises of members with experience in multiple disciplines including power hardware, control hardware, traction power software and mechanical design, that are collectively capable to design such complex systems / sub-systems without any dependency on external design houses. This will enable us to develop newer power electronics systems including IGBT based 3-Phase Drive Propulsion Equipment with composite converter, hotel load converter and distributed power conversion systems for MEMUs / EMUs, Vande Bharat trains and metro trains to meet future sustainability requirements and also to cater to the new technology requirements and upgradation of existing systems by Indian Railways & other regions as well.