IC Electricals Company Limited IPO Details

Factual IPO information from public filings. Not investment advice.

Issue Details

Price Band: ₹94 – ₹99
Lot Size: 1,200 shares
Min. Investment: ₹1,18,800
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

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

Financial performance by period
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

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

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.