IC Electricals Co. IPO
GMP, Subscription, Price, Dates & Financial Details
Electric Equipment
Incorporated in 2005, IC Electricals Company Limited is engaged in the manufacturing of electronic equipment for railway applications and the provision of engineering solutions to Indian Railways. The company specializes in developing advanced railway electronics and executing railway…
Open Date
Fri, 03 Jul 2026
Close Date
Tue, 07 Jul 2026
Price Band
₹ 94 – 99
Lot Size
1200
Issue Size
₹ 47.91 Cr
Minimum Investment
₹ 237,600 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
IC Electricals Co. IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹47.91 Crore, comprising a fresh issue of 45.97 Lakh equity shares aggregating to ₹47.91 Crore.
The IC Electricals Co. IPO remained open for subscription from July 03, 2026, to July 07, 2026. The basis of allotment was finalized on July 08, 2026, and the company's shares were listed on NSE SME Platform on July 10, 2026.
The company had fixed the price band at ₹94 to ₹99 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹237,600 (based on the upper price band) to apply for one lot.
Skyline Financial Services Private Ltd served as the registrar to the issue. NEXGEN Financial Solutions Pvt. Ltd. acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, IC Electricals Company Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
IC Electricals Co. IPO Timeline (Tentative)
- IPO Open Date
- Fri, 03 Jul 26
- IPO Close Date
- Tue, 07 Jul 26
- Basis of Allotment
- Wed, 08 Jul 26
- Initiation of Refunds
- Thu, 09 Jul 26
- Credit of Shares to Demat
- Thu, 09 Jul 26
- Listing Date
- Fri, 10 Jul 26 — NSE & BSE
Open Date
03 July 2026
Close Date
07 July 2026
Basis Of Allotment
08 July 2026
Listing Date
10 July 2026
IPO Subscription
Check Live Subscription →The IC Electricals Co. IPO has received bids for 1,35,68,00,400 shares against 32,29,200 shares offered, resulting in an overall subscription of 420.17x. the NII category is subscribed 764.72x, Retail Investors 372.51x, and QIBs 241.75x. Within the NII category, BNII is subscribed 937.22x, while SNII is subscribed 422.38x.
QIB
241.75x
NII
764.72x
BNII
937.22x
SNII
422.38x
RII
372.51x
Total
420.17x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 16,12,800 shares, representing 49.94% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 9,18,000 shares (28.43%), while Non-Institutional Investors (NIIs) receive 6,98,400 shares (21.63%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 918,000 | 28.43% |
| Non-Institutional | 698,400 | 21.63% |
| BNII | 464,400 | 14.38% |
| SNII | 234,000 | 7.25% |
| Retail Investors | 1,612,800 | 49.94% |
| Total | 3,229,200 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 193.44 | 160.04 | 143.89 |
| Revenue | 143.81 | 122.39 | 99.75 |
| Profit After Tax | 14.1 | 9.41 | 4.62 |
| Net Worth | 65.74 | 51.71 | 33.22 |
| Reserve & Surplus | 50.2 | 36.12 | 27.11 |
| Total Borrowings | 75.42 | 55.79 | 47.81 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
IC Electricals Company Limited KPI Information
| Particular | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 23.88 | 21.86 | 14.95 |
| ROCE % | 18.18 | 17.26 | 14.84 |
| Debt / Equity | 1.13 | 1.5 | 1.37 |
| RoNW % | 23.88 | 21.86 | 14.95 |
| Pat Margin % | 9.84 | 7.69 | 4.56 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| IC Electricals Co. Ltd | 10 | 0.00 | 10.49 | 10.49 | 24.88 | 47.40 |
| Hind Rectifiers Ltd | 2 | 99.50 | 13.10 | 13.10 | 24.62 | 59.88 |
About IC Electricals Company Limited
Incorporated in 2005, IC Electricals Company Limited is engaged in the manufacturing of electronic equipment for railway applications and the provision of engineering solutions to Indian Railways. The company specializes in developing advanced railway electronics and executing railway electrification projects across India.
The company's product portfolio includes a wide range of electronic systems such as regulators, battery chargers, emergency lighting systems, inverters, microprocessor-based control systems, and vigilance control devices, all designed in compliance with the latest railway technical standards.
IC Electricals also manufactures critical railway components, including alternators, traction motors, and permanent magnet alternators with controllers. In addition to manufacturing, the company undertakes turnkey railway electrification projects involving the design, supply, erection, testing, and commissioning of 25 kV AC overhead electrification systems and traction substations.
The company primarily operates under a Business-to-Government (B2G) model, serving various government departments and ministries, with the Ministry of Railways being its key customer. Its major product offerings include:
- Electronic Rectifier-cum-Regulating Units (ERRU)
- Vigilance Control Devices (VCD)
- Regulated Battery Chargers
- GPS-based Passenger Announcement and Passenger Information Systems (PAPIS)
Over the years, IC Electricals has successfully completed several railway electrification projects, including the Gorakhpur–Kaptanganj–Valmiki Nagar section under the North Eastern Railway and the Ara–Sasaram section under the East Central Railway.
As of May 31, 2026, the company had a workforce of 288 permanent employees, supporting its manufacturing operations, project execution, and engineering services across the railway sector.
IC Electricals Co. IPO Promoters
- Mr. Sunil Kumar Verma
- Mrs. Renu Verma
- M/s SHBD LLP
- M/s Safe System India Private Limited
Promoters Holding
Holding Pre Issue
82.92%
Holding Post Issue
60.94%
IC Electricals Co. IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding the working capital requirements of our Company
- General Corporate Purposes
IC Electricals Company Limited Address / Contact Details
IC Electricals Co.Ltd. Address
156 DSIDC
Okhla INDL
Area Phase
North Delhi, New Delhi, 110020
Telephone:+91 011 490507
Email: info@icelectricals.in
Website: https://www.icelectricals.in/
IPO Snapshot
IC Electricals Co. IPO Lot Size
The IC Electricals Co. IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,37,600 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,37,600.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 237,600.00 |
| Retail (Max) | 2 | 2,400 | 237,600.00 |
| S-HNI (Min) | 3 | 3,600 | 356,400.00 |
| S-HNI (Max) | 8 | 9,600 | 950,400.00 |
| B-HNI (Min) | 9 | 10,800 | 1,069,200.00 |
Issue Reservation
- QIB — 28.43%
- NII — 21.63%
- RII — 49.94%
Book Running Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the IC Electricals Co. IPO?
IC Electricals Co. IPO is a Book-building IPO with a total issue size of ₹47.91 crore. The IC Electricals Co. IPO price band is ₹94 to 99 per share. The IC Electricals Co. IPO subscription opens on Fri, Jul 3, 2026, and closes on Tue, Jul 7, 2026. The IC Electricals Co. IPO will be listed on the NSE. Skyline Financial Services Private Ltd is the registrar for the IC Electricals Co. IPO.
When will the IC Electricals Co. IPO open for subscription?
The IC Electricals Co. IPO opens on Fri, Jul 3, 2026 and closes on Tue, Jul 7, 2026
What is IC Electricals Co. IPO Price Band?
IC Electricals Co. IPO Price Band is ₹94 to 99 per share.
What is IC Electricals Co. IPO Lot Size?
IC Electricals Co. IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹237600 based on the upper price band
What is the minimum investment for IC Electricals Co. IPO?
The minimum investment for IC Electricals Co. IPO is ₹237600, based on one lot of 1200 shares at the upper price band of ₹99 per share.
How to apply for IC Electricals Co. IPO?
Investors can apply for the IC Electricals Co. IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jul 7, 2026. The application amount remains blocked until the IC Electricals Co. IPO allotment is finalized.
What is IC Electricals Co. IPO Issue Size?
IC Electricals Co. IPO issue size is ₹47.91 crores.
What is the IC Electricals Co. IPO Allotment Date?
IC Electricals Co. IPO allotment date is Wed, Jul 8, 2026.
Who is the IC Electricals Co. IPO Registrar?
The registrar for IC Electricals Co. IPO is Skyline Financial Services Private Ltd. Investors can go to Skyline Financial Services Private Ltd website to check IC Electricals Co. IPO allotment status, refund processing, and other IPO-related information.
What is the IC Electricals Co. IPO GMP?
The IC Electricals Co. IPO GMP (Grey Market Premium) is ₹47 as of Fri, Jul 10, 2026. Based on the upper price band of ₹99 per share, the estimated IC Electricals Co. IPO listing price is ₹146, indicating a potential listing gain of approximately 47.47% over the issue price.
Who is the IC Electricals Co. IPO Lead Manager?
The book-running lead managers (BRLMs) for the IC Electricals Co. IPO are NEXGEN Financial Solutions Pvt. Ltd.. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the IC Electricals Co. IPO Red Herring Prospectus (RHP).