IC Electricals
· SME · NSE
Price Band
₹94–99
Lot Size
1200 shares
Issue Size
₹48 Cr
Min. Investment
₹1,18,800
Grey Market Premium
Indicative, updates through the day
Estimated listing price: ₹99
Subscription Status
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About IC Electricals
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.
Issue Objectives
- Funding the working capital requirements of the Company
- General Corporate Purposes
- Issue Expenses
Anchor Investors
IC Electricals IPO raises ₹13.54 crore from anchor investors. IC Electricals IPO Anchor bid date is July 2, 2026.📝 Anchor Investors Letter (PDF)
Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 22,86,000 | 49.73% |
| − Anchor Investor | 13,68,000 | 0% |
| − QIB (Ex. Anchor) | 9,18,000 | 0% |
| NII (HNI) | 6,98,400 | 15.19% |
| − bNII > ₹10L | 4,64,400 | 0% |
| − sNII < ₹10L | 2,34,000 | 0% |
| Retail | 16,12,800 | 35.08% |
| Market Maker | 2,42,400 | 0% |
- QIB49.7%
- − Anchor Investor0.0%
- − QIB (Ex. Anchor)0.0%
- NII (HNI)15.2%
- − bNII > ₹10L0.0%
- − sNII < ₹10L0.0%
- Retail35.1%
- Market Maker0.0%
Market Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,37,600 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,37,600 |
| S-HNI (Min) | 3 | 3600 | ₹3,56,400 |
| S-HNI (Max) | 8 | 9600 | ₹9,50,400 |
| B-HNI (Min) | 9 | 10800 | ₹10,69,200 |
Financials (₹ Cr)
Valuations
EPS (Pre IPO)
10.50
EPS (Post IPO)
7.72
ROE
23.88%
P/E (Pre IPO)
9.42
P/E (Post IPO)
12.82
Price / Book
2.02
Market Cap
₹180.79 Cr.
Peers Comparison
| Company | P/E | ROE | Revenue |
|---|---|---|---|
| Vivid Electromech Ltd. | 19.2 | ₹130.54 Cr | |
| INDO SMC Ltd. | 16.1 | ₹91.95 Cr | |
| Sugs Lloyd Ltd. | 11.91 | ₹85.66 Cr | |
| Parth Electricals & Engineering Ltd. | 18.05 | ₹49.67 Cr | |
| Smarten Power Systems Ltd. | 11.75 | ₹50.00 Cr | |
| Fujiyama Power Systems Ltd. | 40.85 | ₹828.00 Cr |
Contact Details
IC Electricals Co.Ltd. Address
- +91 011 490507
- info@icelectricals.in
- https://www.icelectricals.in/
Registrar Contact Details
Skyline Financial Services Pvt. Ltd.
- +91 11 4045 0193
- ipo@skylinerta.com
- https://skylinerta.com
- D-153/A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi – 110020
Frequently Asked Questions
Key Dates
- Open Date
- 03 Jul 2026
- Close Date
- 07 Jul 2026
- Listing Date
- 10 Jul 2026
Issue Details
- Registrar
- Skyline Financial
- Lead Manager(s)
- Exchange
- NSE