IPO details · Updated
IC Electricals Company Limited
- Price Band
- ₹94 – ₹99
- Lot Size
- 1,200 shares
- Min. Investment
- ₹1,18,800
- Issue Size
- ₹47.91 Cr
- Offer Dates
- 3 Jul – 7 Jul 2026
- Listing
- 10 Jul 2026
Issue Details
- Total Issue Size
- ₹47.91 Cr
- 48,39,600 shares
- Fresh Issue
- ₹47.91 Cr
- 48,39,600 shares
- Offer for Sale
- ₹0 Cr
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- NSE SME
- Shares Pre-Issue
- 1,34,22,000
- Shares Post-Issue
- 1,82,61,600
IPO Timeline
Offer opens
3 Jul 2026
Offer closes
7 Jul 2026
Allotment
8 Jul 2026
Listing
10 Jul 2026
Issue Allocation
Share of the offer reserved for each investor category
- Anchor28.3%13,68,000 shares
- QIB19.0%9,18,000 shares
- HNI14.4%6,98,400 shares
- Retail33.3%16,12,800 shares
- MarketMaker5.0%2,42,400 shares
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| All categories | 32,29,200 | 1,35,65,58,000 | 420.09x |
| Total | 32,29,200 | 1,35,65,58,000 | 420.09x |
Lot Size & Investment
1 lot = 1,200 shares
Retail (min)
2 lots · 2,400 shares
Retail (max)
2 lots · 2,400 shares
S-HNI (min)
3 lots · 3,600 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 2 | 2,400 | ₹2,37,600 |
| Small HNI (S-HNI) | 3 | 3,600 | ₹3,56,400 |
| Big HNI (B-HNI) | 9 | 10,800 | ₹10,69,200 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 193.44 | 160.04 | 143.89 |
| Total Income | 143.81 | 122.39 | 99.75 |
| Profit After Tax | 14.1 | 9.41 | 4.62 |
| EBITDA | 25.66 | 18.34 | 12.14 |
| Net Worth | 65.74 | 51.71 | 33.22 |
| Reserves & Surplus | 50.2 | 36.12 | 27.11 |
| Total Borrowing | 75.42 | 55.79 | 47.81 |
Key Performance Indicators
| Period | Mar-26 |
|---|---|
| ROE (%) | 23.88 |
| ROCE (%) | 18.18 |
| EPS (₹) | 10.5 |
| P/E (pre-issue) | 9.42 |
| P/E (post-issue) | 12.82 |
Peer Comparison
Listed companies in the same business
| Company | P/E | ROE |
|---|---|---|
| Hind Rectifiers Limited | 99.5 | 24.62% |
About IC Electricals Company Limited
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. Competitive Strength: Strong focus on Research & Development Experienced management team with a proven track record Dedicated service centers or representatives are in every state capital, ensuring customer queries are addressed within 24 hours. Well-equipped manufacturing facilities.
Objects of the Issue
- Funding the working capital requirements of the Company (₹33.60 Cr)
- General Corporate Purposes (₹7.13 Cr)
- Issue Expenses (₹7.19 Cr)
Promoters
- Sunil Kumar Verma
- Renu Verma
- SHBD LLP
- Safe System India Pvt.Ltd.
Company Information
- Book running lead managers
- NEXGEN Financial Solutions Pvt.Ltd.
- Registered office
- 156 DSIDC, Okhla Inustrial Area, New Delhi, New Delhi, 110020
- Market maker
- Mansi Share & Stock Broking Pvt.Ltd.
Official Documents
Opens the source filing in a new tab
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