GMP IPO Watch
IC Electricals Company IPO
IC Electricals Company IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
IC Electricals Company IPO Details
Key facts at a glance| IPO Open Date | 2 July 2026 | IPO Close Date | 6 July 2026 |
|---|---|---|---|
| Basis of Allotment | 7 July 2026 | Listing Date | 9 July 2026 |
| Price Band | ₹94 - ₹99 per share | Face Value | ₹10 per share |
| Market Lot Size | 1200 Shares | Min Investment (Retail) | ₹2,37,600 |
| Total Issue Size | ₹47.91 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | NSE, BSE | Issue Category | SME Issue |
| Registrar | TBA | ||
IC Electricals Company IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 2 July 2026 | Confirmed |
| IPO Close Date | 6 July 2026 | Confirmed |
| Basis of Allotment | 7 July 2026 | Tentative |
| Initiation of Refunds | 9 July 2026 | Tentative |
| Credit of Shares to Demat | 9 July 2026 | Tentative |
| IPO Listing Date | 9 July 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 7 July 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
IC Electricals Company IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 2,400 Shares | ₹2,37,600 |
| Retail (Max) | 2 Lots | 2,400 Shares | ₹2,37,600 |
| S-HNI (Min) | 3 Lots | 3,600 Shares | ₹3,56,400 |
| S-HNI (Max) | 8 Lots | 9,600 Shares | ₹9,50,400 |
| B-HNI (Min) | 9 Lots | 10,800 Shares | ₹10,69,200 |
IC Electricals Company IPO Live GMP & Movement History
Daily unofficial grey market trends₹45 +45.5%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 9 Jul 2026 | ₹45 | ₹144.00 | +45.45% |
| 7 Jul 2026 | ₹55 | ₹154.00 | +55.56% |
IC Electricals Company IPO Subscription Status
Demand breakdown by investor categoryAbout IC Electricals Company
IC Electricals Company Limited is engaged in the manufacture of electronic equipment and electrical systems for railway applications, primarily serving Indian Railways and related railway-sector customers. The company offers products such as rectifier-cum-regulating units, regulated battery chargers, emergency light units, inverters, microprocessor-based control systems, vigilance control devices, alternators, traction motors, and permanent magnet alternators with controllers. It also undertakes railway electrification projects through its Contract Division, providing services for 25 kV AC overhead equipment systems, including design, material supply, erection, testing, and commissioning. The company earns revenue from product sales, services, after-sales replacements, and maintenance-related supplies. It primarily follows a B2G model, with a significant portion of revenue from the Ministry of Railways and related government entities. The company holds approved supplier registrations with railway authorities and operates manufacturing facilities in Haridwar.
Key Strengths
- IC Electricals provides a wide range of electronic products and systems for Indian Railways.
- The company manufactures key railway components such as alternators, traction motors, and permanent magnet alternators.
- It executes turnkey railway electrification projects covering design, supply, installation, testing, and commissioning.
- The company holds approved supplier registrations with various directorates under the Ministry of Railways, including RDSO.
- It has operated in the railway engineering and electrification business since its incorporation in 2005.
Key Risks
- A large portion of revenue depends on contracts from the Ministry of Railways and related government entities.
- The company operates in a highly competitive industry, which may put pressure on margins and market share.
- Any blacklisting or debarment by railway or government authorities could affect future business opportunities.
- The company is substantially dependent on working capital for its operations.
- Its business may be affected by dependence on suppliers of raw materials and components.
IC Electricals Company IPO Reservation & Share Quotas
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 Company 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 Company IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 03 Jul 2026 |
| IPO Close Date | 07 Jul 2026 |
| Basis of Allotment | 08 Jul 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 10 Jul 2026 |
Note: The timeline for ఐసి ఎలక్ట్రికల్స్ కంపెనీ IPO is tentative and subject to change.
IC Electricals Company Promoters and Shareholding 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 Company Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
IC Electricals Company About the 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 Company Company Financial Report
To Be Updated Soon
IC Electricals Company Company Valuation & Key Performance Indicators
To Be Updated Soon
IC Electricals Company Peer Group Comparison
To Be Updated Soon
IC Electricals Company Lead Managers & Merchant Bankers
- NEXGEN Financial Solutions Pvt.Ltd.
IC Electricals Company IPO FAQs
IC Electricals Company IPO opens for subscription on 2 July 2026 and closes on 6 July 2026.
The price band for IC Electricals Company IPO is set at ₹94.00 to ₹99.00 per share.
The minimum market lot size is 1200 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 2,400 Shares (₹2,37,600).
The latest Grey Market Premium (GMP) for IC Electricals Company IPO is ₹45. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for IC Electricals Company IPO is tentatively scheduled for 7 July 2026, and shares are expected to list on the stock exchanges on 9 July 2026.
The registrar details will be confirmed in the official prospectus.