Vivid Electromech Ltd IPO
Capital Goods - Electrical Equipment
Price Band
₹528 – ₹555
Lot Size
240
Minimum Bid Quantity
480
Minimum Investment
₹266400
Issue Size
₹130.54Cr
Opens
2026-03-25
Closes
2026-03-30
Listing
06-04-2026
Subscription Status
Qualified Institutional Buyers
1.95 x
Non-Institutional Investor
1.37 x
Retail Individual Investor
0.36 x
Total
1.05 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE24H301028
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Vivid Electromech Limited is engaged in the manufacturing of low-voltage (LV) and medium-voltage (MV) electrical panels and automation systems. The company undertakes panel manufacturing and system integration, providing services across engineering, design, fabrication, assembly, testing, and commissioning of control and automation systems. Its product portfolio includes PCC panels, MCC panels, IMCC panels, DG synchronisation panels, power distribution boards, outdoor panels, and MV panels ranging from 3.3 kV to 36 kV, along with specialised panels such as VFD panels, control and relay panels, and APFC panels. These products are used in sectors such as data centres, infrastructure, metro projects, renewable energy, and industrial manufacturing. The company operates two manufacturing facilities located in Navi Mumbai and Pune, Maharashtra. The Navi Mumbai facility handles end-to-end manufacturing processes, while the Pune unit focuses on assembly operations. The company primarily generates revenue from domestic sales, with a limited contribution from exports.
Pros
- • The company claims to operate integrated manufacturing facilities across Navi Mumbai and Pune, covering the entire production process from design to testing. This includes in-house fabrication, assembly, wiring, and testing, supported by CNC-based machinery and specialised equipment. Such integration is stated to reduce dependence on third-party vendors and provide greater control over production timelines.
- • The company has a diversified product portfolio across both low-voltage (LV) and medium-voltage (MV) segments, including panels up to 33 kV, busducts, and electrical goods. It also offers both standard and customised solutions based on client requirements. This enables it to cater to multiple sectors such as data centres, infrastructure, manufacturing, and power generation.
- • The company has established a presence in the data centre segment, which contributed approximately 35.80% of its total revenue in FY25. It provides panels designed for continuous power supply and reliability requirements specific to data centre operations.
Cons
- • The cost of raw materials forms a significant portion of the company’s expenses. The total cost of raw materials amounted to Rs 100.24 crore (77.94% of total cost), Rs 60.62 crore (72.43%), and Rs 50.22 crore (84.27%) in FY25, FY24, and FY23, respectively. Fluctuations in raw material prices or the inability to pass on increased costs to customers could be detrimental to the company's business.
- • The top 10 suppliers of the company contributed Rs 87.01 crore (73.00%), Rs 42.43 crore (67.35%), and Rs 37.28 crore (73.27%) to total purchases in FY25, FY24, and FY23, respectively. Failure to maintain relationships with these suppliers or secure alternate sources of supply could adversely affect the company’s operations and cost structure.
- • The top 10 customers of the company contributed Rs 108.55 crore (69.90%), Rs 49.01 crore (55.12%), and Rs 36.83 crore (62.08%) to revenue from operations in FY25, FY24, and FY23, respectively. Any failure to retain these key customers or a reduction in order volumes from them can adversely affect the company’s revenues and financial standing.
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