IC Electricals Co IPO Details

SME NSE

IC Electricals Co IPO Summary

IC Electricals Co IPO opens for subscription on 03 Jul 2026 and closes on 07 Jul 2026.The IPO will be listed on NSE with the tentative listing date set for 10 Jul 2026.

IC Electricals Co IPO price band has been fixed at ₹94 – ₹99 per share. The face value is ₹10 per share with a lot size of 1200.

IC Electricals Co IPO total issue size comprises 48,39,600 shares (aggregating up to ₹47.91 Cr). This includes a fresh issue of 48,39,600 shares (aggregating up to ₹47.91 Cr). Pre-issue shareholding stands at 1,34,22,000, which will increase to 1,82,61,600 post-issue.

IC Electricals Co IPO carries a ₹47 (47.47%) GMP, reflecting investor sentiment.

IC Electricals Co IPO Lot Size :Individual Minimum is 2 lots (2,400 shares) amounting to ₹237,600. Individual Maximum is 2 lots (2,400 shares) amounting to ₹237,600. SHNI Minimum is 3 lots (3,600 shares) amounting to ₹356,400. SHNI Maximum is 8 lots (9,600 shares) amounting to ₹950,400. BHNI Minimum is 9 lots (10,800 shares) amounting to ₹1,069,200.

The Lead Managers for IC Electricals Co IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is NEXGEN Financial Solutions Pvt Ltd . To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Mansi Share & Stock Broking Pvt Ltd. You can analyze their track record by checking the Market Maker Performance Summary report.

For detailed information, Refer to the IC Electricals Co Limited RHP.

IC Electricals Co IPO Details

Listing Price : ₹166 at a Premium of 67.68%

Open Date

03 Jul 2026

Close Date

07 Jul 2026

Listing Date

10 Jul 2026

Issue Price

₹94 - ₹99

Face Value

₹10 per share

Lot Size

1200 Shares

GMP

₹47(47.47%)

Issue Type

IPO

Listing On

NSE

Type

Book Built Issue

Pre-issue Shareholding

1,34,22,000 shares

Post-issue Shareholding

1,82,61,600 shares

Total Issue Size

48,39,600 shares(aggregating up to ₹47.91 Cr)

Fresh Issue

48,39,600 shares(aggregating up to ₹47.91 Cr)

Offer for Sale

IC Electricals Co IPO Subscription

IC Electricals Co IPO Application Wise Breakup

IC Electricals Co IPO Dates

03 Jul 2026
Opening dateOpen
07 Jul 2026
Closing dateClose
08 Jul 2026
Allotment Date Allotment
09 Jul 2026
Initiation of RefundsRefund
09 Jul 2026
Credit of SharesCredit
10 Jul 2026
Listing dateListing

IC Electricals Co IPO Lot Size

Application	Lots	Shares	Amount
Individual Minimum	2	2400	₹237,600
Individual Maximum	2	2400	₹237,600
SHNI Minimum	3	3600	₹356,400
SHNI Maximum	8	9600	₹950,400
BHNI Minimum	9	10800	₹1,069,200

IC Electricals Co IPO Reservation

Promoter Holding

Pre Issue:

82.92%

Post Issue:

60.94%

Documents

DRHP

IC Electricals Co IPO DRHP

RHP

IC Electricals Co IPO RHP

Anchor List

Anchor Investors

IC Electricals Co IPO Valuations

ROE23.88%

ROCE18.18%

RoNW23.88%

PAT Margin9.84%

EBITDA Margin17.83%

Price to Book Value2.09

EPS(₹) (Pre IPO)10.50

EPS(₹) (Post IPO)7.72

P/E (x) (Pre IPO)9.42

P/E (x) (Post IPO)12.82

IC Electricals Co Financial Information

Period Ended	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	193.44	160.04	143.89
Total Income	143.81	122.39	99.75
Profit After Tax	14.10	9.41	4.62
EBITDA	25.66	18.34	12.14
NET Worth	65.74	51.71	33.22
Reserves and Surplus	50.20	36.12	27.11
Amount in ₹ Crore

About IC Electricals Co IPO

Incorporated in 2005, IC Electricals Company Limited is engaged in the manufacturing of electronic equipment for railway applications and in providing engineering solutions to Indian Railways.

The company offers a diverse range of electronic products including regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, and vigilance control devices, all compliant with the latest technical standards.

In addition, the company manufactures key railway components, including alternators, traction motors, and permanent magnet alternators with controllers. IC Electricals also undertakes turnkey railway electrification projects, covering design, supply, erection, testing, and commissioning of 25 kV AC overhead equipment and traction substation systems.

The company primarily operates on a Business-to-Government (B2G) model, serving government departments and ministries, including the Ministry of Railways. Its key product offerings include Electronic Rectifier-cum-Regulating Units (ERRU), Vigilance Control Devices (VCD), Regulated Battery Chargers, and GPS-based Passenger Announcement & Passenger Information Systems (PAPIS).

IC Electricals has successfully executed multiple railway electrification projects such as 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 employs 288 permanent staff members.

Strength Of IC Electricals Co IPO

Designing and execution capabilities.
Experienced management team and a motivated and efficient work force.
Cordial relations with our consumers.
Quality assurance and control.

Risk Of IC Electricals Co IPO

Our business is heavily dependent on contracts awarded by the Ministry of Railways and its affiliated entities, and any reduction in railway sector spending, adverse policy changes or inability to maintain historical business levels with Indian Railways may materially and adversely affect our business, financial condition and results of operations.
Our Company operates in a competitive industry, and increasing competition may exert pressure on our profit margins, potentially leading to a reduction in our market share and overall profitability
Risk of the Company Being Blacklisted by Government Authorities
Our Company requires significant amount of working capital for a continuing growth. Our inability to meet our working capital requirements may adversely affect our results of operations.
As an integral aspect of our business operations, it is necessary for us to provide bank guarantees and additional guarantee. Failing to secure these guarantees or the activation of such guarantees has the potential to negatively impact our cash flows and financial standing.
There are outstanding legal proceedings involving our Company as well as our promoter. Any adverse outcome on such proceedings may affect our business, financial condition and reputation
We depend on a limited number of clients for a significant portion of our revenues. The loss of a major customer or significant reduction in demand from any of our major clients may adversely affect our business, financial condition, results of operations and prospects.
Our Top 10 Suppliers contribute a significant portion of our raw material Any dispute with one or more of them may adversely affect our business operations.
Our Company is dependent on third parties for the supply of raw materials required for our products and is exposed to risks relating to fluctuations in prices and shortage of raw material. Further, we do not have any long-term supply agreements with the raw material providers.
We had negative cash flows from operating, investing and financing activities as per the restated financial statements in the past and may continue to have negative cash flows in the future.

Objectives IC Electricals Co IPO

1. Funding the working capital requirements of the Company

2. General Corporate Purposes

Company Contact Details

IC Electricals Co. Ltd.
156 DSIDC
Okhla INDL
Area Phase
North Delhi, New Delhi, 110020
Phone: +91 011 490507
Email: info@icelectricals.in
Website: http://www.icelectricals.in/

Registrar Contact Details

Name:

Skyline Financial Services Pvt Ltd

Phone:

+91-22-28511022

Email:

ipo@skylinerta.com

Website:

https://www.skylinerta.com/ipo.php

Lead Mangers

Market Maker

IC Electricals Co FAQs

The IC Electricals Co IPO is a SME public issue comprising 4839600 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹47.91 Cr. The issue price has been fixed at ₹99 per equity share, and the minimum application size is 1200 shares.

The IPO opens for subscription on 03 Jul 2026, and closes on 07 Jul 2026.

Skyline Financial Services Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the NSE

The IC Electricals Co IPO opens on 03 Jul 2026.

IC Electricals Co IPO lot size is 1200, and the minimum amount required for application is ₹118800.

You may apply for the IC Electricals Co IPO online by using either the UPI or ASBA payment method. The ASBA facility is available through the net banking platform of your respective bank. The UPI-based IPO application option is typically provided by brokers that do not offer banking services. For detailed guidance on the online IPO application process, please refer to the procedures outlined by Zerodha, Groww, Upstox, 5Paisa, Paytm Money, Fyers, Alice Blue, Nuvama, HDFC Bank, ICICI Direct, Kotak Securities, Axis Direct, and SBI Bank.

The Basis of Allotment for the IC Electricals Co IPO is scheduled to be finalized on 08 Jul 2026. Subsequently, the shares allotted will be credited to investors’ demat accounts by 09 Jul 2026. Investors are advised to regularly check the IC Electricals Co IPO allotment status for updates.

The listing date for the IC Electricals Co IPO has not yet been officially announced. However, the tentative listing date is scheduled for 10 Jul 2026.

IC Electricals Co IPO Grey Market Premium (GMP) refers to the unofficial price at which the company’s IPO shares are traded in the grey market prior to their listing on the stock exchange. The GMP serves as an indicator of investor demand, expected listing gains, and the overall market sentiment toward the IPO.

As of now, the current GMP stands at ₹47 (47.47%).