IC Electricals
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05IC Electricals IPO Market Lot
- 06 IC Electricals IPO Details
- 07 IC Electricals IPO Reservation
- 08 IC Electricals IPO Anchor Investors
- 09 IC Electricals IPO Dates
- 10 IC Electricals IPO Promoters and Holding Pattern
- 11 IC Electricals IPO Objects of the Issue & Utilisation of Proceeds
- 12 IC Electricals - About IPO
- 13 IC Electricals IPO Company Financial Report
- 14 IC Electricals IPO Valuation – FY2026
- 15 IC Electricals IPO Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 06 Jul 2026 | ₹55.00 | +₹11.00 | 55.56% |
| 03 Jul 2026 | ₹44.00 | - | 44.44% |
IC Electricals IPO MARKET LOT
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹237,600 |
| Retail Maximum | 2 | 2,400 | ₹237,600 |
| S-HNI Minimum | 3 | 3,600 | ₹356,400 |
| S-HNI Maximum | 8 | 9,600 | ₹950,400 |
| B-HNI Minimum | 9 | 10,800 | ₹1,069,200 |
IC Electricals IPO DETAILS
IC Electricals Limited is launching its Initial Public Offering (IPO) through the book-building route to raise capital for business expansion, working capital requirements, and future growth initiatives. The company operates in the electrical equipment and solutions segment and aims to strengthen its market position through this public issue.
The IPO consists entirely of a fresh issue of equity shares, which means the proceeds from the issue will be utilized directly by the company for operational and strategic purposes. Upon successful completion of the issue, the shares of IC Electricals Limited are proposed to be listed on the NSE SME platform.
| Particular | Details |
|---|---|
| IC Electricals IPO Open Date | July 3, 2026 |
| IC Electricals IPO Close Date | July 7, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹94 to ₹99 Per Share |
| Issue Size | Approx ₹48 Crores, 48,39,600 Equity Shares |
| Fresh Issue | Approx ₹48 Crores, 48,39,600 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | NSE SME |
IC Electricals IPO RESERVATION
IC Electricals Limited has allocated shares across various investor categories in accordance with SEBI regulations applicable to book-building IPOs. The reservation structure aims to ensure participation from institutional investors, non-institutional investors, and retail investors.
The IPO includes a dedicated allocation for Anchor Investors and Qualified Institutional Buyers (QIBs), while separate quotas have been reserved for Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs). This diversified allocation structure helps maintain a balanced investor base in the public issue.
| Investor Category | Share Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 13,68,000 Shares | 28.27% |
| QIB (Ex. Anchor) | 9,18,000 Shares | 18.97% |
| NII Shares Offered | 6,98,400 Shares | 14.43% |
| Retail Shares Offered | 16,12,800 Shares | 33.33% |
IC Electricals IPO Anchor INVESTORS
IC Electricals Limited has reserved a portion of its IPO for Anchor Investors as part of the book-building process. Anchor investors generally include institutional participants such as mutual funds, insurance companies, banks, and foreign portfolio investors who invest before the IPO opens for public subscription.
Participation by anchor investors is often viewed positively by the market as it reflects institutional interest in the company. The shares allotted to anchor investors are subject to mandatory lock-in periods as prescribed under SEBI regulations.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 02, 2026 |
| Anchor Investors List | |
| Shares Offered | 13,68,000 Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date for 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date for Remaining 50% Shares (90 Days) | 2026 |
IC Electricals IPO DATES
The IC Electricals IPO is scheduled to open for subscription on July 3, 2026 and will close on July 7, 2026. During this period, eligible investors can submit their bids through ASBA-supported bank accounts or UPI-enabled applications.
Following the closure of the public issue, the basis of allotment is expected to be finalized on July 8, 2026. Successful applicants will receive shares in their demat accounts on July 9, 2026, while the company is expected to make its stock market debut on the NSE SME platform on July 10, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 3, 2026 |
| IPO Close Date | July 7, 2026 |
| Basis of Allotment | July 8, 2026 |
| Refunds Initiation | July 9, 2026 |
| Credit to Demat Account | July 9, 2026 |
| IPO Listing Date | July 10, 2026 |
| IPO Bidding Cut-off Time | July 7, 2026 – 5 PM |
IC Electricals IPO Promoters and Holding PATTERN
The promoters of IC Electricals Limited are Mr. Sunil Kumar Verma, Mrs. Renu Verma, M/s SHBD LLP, and M/s Safe System India Private Limited. The promoter group has played a significant role in establishing the company and expanding its presence in the electrical products and solutions industry.
Following the completion of the IPO, promoter shareholding will reduce due to the dilution arising from the fresh issue of equity shares. Despite the dilution, the promoters will continue to hold a majority stake in the company and remain actively involved in its management and future growth strategy.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 1,34,22,000 | 82.92% |
| Promoter Holding Post Issue | 1,82,61,600 | 60.94% |
IC Electricals IPO Objects of the Issue & Utilisation of PROCEEDS
IC Electricals Limited intends to utilize the net proceeds from the IPO primarily to support its business operations and strengthen its financial position. The company plans to deploy the funds towards meeting its growing operational requirements and supporting future expansion initiatives.
A significant portion of the funds raised through the public issue will be used to meet the company's working capital requirements, which will help improve operational efficiency, manage inventory, and support business growth across various segments.
| Purpose | Amount (Crores) |
|---|---|
| Funding the Working Capital Requirements of the Company | ₹33.60 |
| General Corporate Purpose | ₹- |
IC Electricals - About IPO
IC Electricals Limited, founded in 2005, is one of the leading engineering and manufacturing companies for the Indian railways. The firm manufactures Electronic systems, Rotating machines, and Railway electrification solutions used in railway operations. The company operates its business under a Business-to-Government (B2G) model, usually earning revenue from government agencies, railway production units, and railway-related OEMs.
Its product portfolio includes a diverse range of railway products, including electronic rectifier-cum-regulating units (ERRUs), battery chargers, vigilance control devices, passenger information systems, emergency lighting systems, alternators, traction motors, and specialized traction motor components. Along with railway products manufacturing, IC Electricals also offers turnkey railway electrification solutions where they design, supply, install, test, and launch 25 kV AC overhead equipment and traction substations.
IC Electricals IPO Company Financial REPORT
IC Electricals Limited has demonstrated consistent financial growth over the last three financial years, supported by increasing demand for its electrical products and solutions across various industries. The company has reported steady growth in revenue while maintaining healthy profitability margins.
The company's improving financial performance reflects effective cost management, operational efficiency, and expanding business operations. Growth in Profit After Tax (PAT) and total assets indicates strengthening fundamentals and an improving financial position ahead of the IPO.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹99.75 | ₹93.72 | ₹4.62 | ₹143.89 |
| 2025 | ₹122.39 | ₹109.75 | ₹9.41 | ₹160.04 |
| 2026 | ₹143.81 | ₹124.88 | ₹14.10 | ₹193.44 |
IC Electricals IPO Valuation – FY2026
Investors generally evaluate an IPO by analyzing important financial indicators such as Return on Equity (ROE), Return on Capital Employed (ROCE), Earnings Per Share (EPS), Return on Net Worth (RoNW), EBITDA Margin, and Net Asset Value (NAV). These metrics help in assessing a company's profitability, operational efficiency, and financial strength before making investment decisions.
IC Electricals Limited has reported healthy financial performance during FY2026 with strong profitability and improving returns on shareholder capital. The valuation metrics below provide investors with a comprehensive understanding of the company's financial position and IPO valuation fundamentals.
| KPI | Values |
|---|---|
| ROE | 24.88% |
| ROCE | 18.47% |
| EBITDA Margin | 17.96% |
| PAT Margin | 9.84% |
| Debt to Equity Ratio | [.] |
| Earning Per Share (EPS) | ₹10.49 (Basic) |
| Price/Earning P/E Ratio | N/A |
| Return on Net Worth (RoNW) | 24.88% |
| Net Asset Value (NAV) | ₹47.40 |
IC Electricals IPO Peer Group COMPARISON
Peer group comparison helps investors evaluate IC Electricals Limited against listed companies operating in the electrical equipment and industrial electronics sector. Comparing financial metrics such as Earnings Per Share (EPS), Price to Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and revenue helps investors understand valuation levels and operational efficiency within the industry.
Such comparisons provide valuable insights into whether the IPO is reasonably priced relative to established peers and can assist investors in making informed investment decisions based on industry benchmarks.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Hind Rectifiers Ltd | 13.10 | 99.50 | 24.62% | 59.88 | 45.01 Cr. |
IPO Lead Managers aka Merchant BANKERS
- NEXGEN Financial Solutions Pvt.Ltd.