Vivid Electromech IPO Details: Price, GMP, NSE Listing Date & Review

What is the Vivid Electromech IPO?

Vivid Electromech Limited is a Maharashtra-based manufacturer of low-voltage (LV) and medium-voltage (MV) electrical panels and automation systems, founded in 1990. The company is now entering the public markets with a ₹130.54 crore NSE SME IPO, structured as a combination of a fresh issue and an offer for sale:

Fresh Issue: 0.19 crore shares aggregating to ₹104.56 crores (proceeds for company use)

Offer for Sale (OFS): 0.05 crore shares aggregating to ₹25.97 crores (proceeds to selling shareholders)

The IPO will list exclusively on the NSE SME platform on April 7, 2026. With a data centre segment contributing ~36% of FY25 revenue and strategic OEM partnerships with ABB and Larsen & Toubro, Vivid Electromech is well-positioned in the intersection of two of India's hottest infrastructure themes.

Vivid Electromech IPO Price Band & Share Price

The Vivid Electromech IPO price is set at a band of ₹528 to ₹555 per share, with a face value of ₹10 per share. At the upper price band of ₹555, the company commands a significant premium to its book value — reflecting investor expectations of continued high-growth performance following the near-5x PAT jump seen between FY23 and FY25.

Bidding at the cut-off price (₹555) maximises allotment probability in a competitive SME IPO. The Vivid Electromech Ltd share price on listing day (April 7, 2026) will be determined by market demand and the overall subscription numbers across investor categories.

Vivid Electromech IPO GMP (Grey Market Premium)

The Vivid Electromech IPO GMP (Grey Market Premium) is being actively tracked in the grey market as the subscription window progresses. Given the company's strong revenue trajectory (revenue nearly tripled from FY23 to FY25) and significant PAT growth, market participants are watching subscription numbers closely as a GMP signal.

As of the close of subscription on March 30, 2026, the IPO was subscribed 1.12x overall, with QIB at 1.95x, B-HNI at 2.64x, retail at 0.35x, and S-HNI at 0.24x. The modest overall subscription and below-par retail demand suggest the GMP is likely to be subdued relative to heavily oversubscribed SME IPOs.

Disclaimer: GMP is an unofficial, unregulated metric and should not be used as the sole basis for investment decisions. Always evaluate the company's fundamentals and risk factors before applying.

Track the live Vivid Electromech IPO GMP and listing day performance on ultra

About Vivid Electromech Limited

Founded in 1990 and headquartered in Navi Mumbai, Maharashtra, Vivid Electromech Limited is led by MD Mr. Sameer Vishvanath Attavar (25+ years in the industry) and Director Ms. Meeta Sameer Attavar (19+ years of experience). The company manufactures and supplies a comprehensive range of electrical panels and automation systems across India and select international markets.

Product Portfolio

The company offers products across Low Voltage (LV) and Medium Voltage (MV) segments:

• LV Products: PCC panels, MCC panels, IMCC panels, DG synchronisation panels, power distribution boards, outdoor panels, VFD panels, control and relay panels, and APFC panels.

• MV Products: Panels ranging from 3.3 kV to 36 kV (33 kV switchgear).

• Additional Offerings: Busducts and electrical goods, along with both standard and customised solutions based on client requirements.

Key Sectors Served

Products are used across high-growth sectors including:

• Data Centres & Technology (~35.80% of FY25 revenue)

• Infrastructure and metro projects

• Renewable energy (solar)

• Industrial manufacturing

• Construction and real estate

Manufacturing Facilities

The company operates two manufacturing facilities in Maharashtra, totalling over 34,000 sq. ft.:

• Navi Mumbai facility — end-to-end manufacturing including design, engineering, fabrication, assembly, wiring, and testing

• Pune facility — focused on assembly operations

Both facilities use CNC-based machinery and are backed by in-house high-voltage test kits and primary injection testing setups.

OEM Partnerships

Vivid Electromech holds authorised partner status with two of India's most trusted electrical brands:

• ABB — authorised to manufacture ABB's ArTu K LT Switchboards (type-tested panels)

• Larsen & Toubro (L&T) — authorised for L&T Enersys LV Electrical Panels

Competitive Strengths

• Integrated Manufacturing: End-to-end in-house capabilities from design and engineering to fabrication, wiring, assembly, and testing — reducing dependence on third-party vendors and improving quality control.

• Data Centre Exposure: ~35.80% of FY25 revenue from data centre projects, positioning Vivid Electromech at the centre of one of India's fastest-growing infrastructure themes.

• OEM Partnerships: Authorised manufacturer for ABB's ArTu K switchboards and L&T Enersys LV panels — a significant quality and credibility credential.

• Broad Product Range: LV to MV panels (up to 33 kV) across multiple form factors serving diverse industries — data centres, infrastructure, renewables, manufacturing.

• Wide Geographic Footprint: Distribution across more than 15 Indian states, with some export presence.

• Triple Certification: ISO 9001:2015 (quality), ISO 14001:2015 (environment), ISO 45001:2018 (occupational health & safety).

• Experienced Promoters: Leadership with 25+ years of industry experience, actively involved in day-to-day operations

Key Risks to Consider

• Raw Material Concentration: Raw materials accounted for ~78% of total costs in FY25. Any price escalation in copper, steel, or imported components could compress margins significantly.

• Customer Concentration: Top 10 customers contributed ~69.9% of revenue in FY25. Loss of any key account could materially hurt revenues.

• Supplier Concentration: Top 10 suppliers contributed ~73% of total purchases in FY25, exposing the company to supply chain risks.

• Geographic Concentration: Maharashtra contributed ~86% of FY25 revenue — a high concentration in a single state.

• New Facility Execution Risk: The ₹44 crore Ambernath facility is yet to be set up. Any delays, cost overruns, or utilisation shortfalls could impact growth and financials.

• OEM Partnership Dependency: Revenue from type-tested panels depends on agreements with ABB and L&T. Any adverse change in these partnerships could affect the product portfolio.

• High Trade Receivables: Trade receivables stood at ₹60.55 Cr as of March 31, 2025 — a significant portion of annual revenue — indicating credit risk from customers.

• NSE SME Liquidity: As with all SME IPOs, secondary market liquidity on NSE SME is more limited compared to mainboard listings.

Should You Apply for the Vivid Electromech IPO?

The Vivid Electromech IPO presents a compelling story — a 35-year-old company that has recently hit an inflection point, with revenue tripling and PAT growing ~337x between FY23 and FY25. The combination of data centre exposure, OEM partnerships with ABB and L&T, a planned capacity expansion, and a relatively low debt profile makes this an interesting SME story.

The IPO has closed with a total subscription of 1.12x, with QIB at 1.95x and B-HNI at 2.64x — but retail and S-HNI subscriptions have been notably weak (0.35x and 0.24x respectively). This mixed subscription pattern suggests institutional buyers see merit, but retail enthusiasm has been limited — likely due to the high minimum investment of ₹2,66,400 and some scepticism about the sudden PAT jump from near-zero levels.

For investors who can tolerate SME IPO risks and are comfortable with the minimum ticket size, the data centre and electrical infrastructure thesis is strong. However, the high raw material cost share, geographic and customer concentration, and the execution dependency on the new Ambernath facility are material risk factors to weigh carefully.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Please consult a registered financial advisor before making investment decisions. Investments in IPOs are subject to market risks.