SME
IPO ·
NSE SME
IC Electricals Co.Ltd
Listed
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.
Issue details
Price band
₹94 – ₹99
Face value
₹10
Lot size
1,200 shares
Minimum investment
₹2,37,600
Issue size
₹47.91 Cr
Fresh issue
₹45.51 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE SME
Key dates
Opens
3 Jul 2026
Closes
7 Jul 2026
UPI mandate cut-off
5:00 PM on 7 Jul 2026
Allotment
8 Jul 2026
Refunds
9 Jul 2026
Shares in demat
9 Jul 2026
Listing
10 Jul 2026
Subscription and listing
Subscription
291.96x
Listing price
₹166
Registrar
Skyline Financial Services Pvt Ltd
Lead manager
NEXGEN Financial Solutions
Subscription by category
Total
291.96x
Total applications
3,07,562
Anchor investors
Amount raised
₹13.54 Cr
Bid date
2 Jul 2026
50% lock-in ends
7 Aug 2026
Rest lock-in ends
6 Oct 2026
Listing day
Issue price
₹99
Open
₹166.00
High
₹174.30
Low
₹157.70
Day close
₹174.30
Listing gain at open
+67.68%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
22,86,000
47.24%
Anchor Investor Shares Offered
13,68,000
28.27%
QIB (Ex. Anchor) Shares Offered
9,18,000
18.97%
NII Shares Offered
6,98,400
14.43%
bNII > ₹10L
4,64,400
9.60%
sNII < ₹10L
2,34,000
4.84%
Retail Shares Offered
16,12,800
33.33%
Market Maker Shares Offered
2,42,400
5.01%
Total Shares Offered
48,39,600
100.00%
Finaccle’s quick read
Neutral
FY26 income up 18%, PAT up 50%, ROE 23.88%, D/E 1.13, post-issue P/E 12.82x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
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.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
23.88%
ROCE
18.18%
Debt / equity
1.13
PAT margin
9.84%
P/E post issue
12.82
Market cap
₹180.79 Cr
Use of IPO money
Funding the working capital requirements of the Company
₹33.60 Cr
General Corporate Purposes
₹7.13 Cr
Issue Expenses
₹7.19 Cr
Strengths
✓
Revenue up 18% in FY26 to ₹143.81 Cr
✓
PAT up 50% in FY26 to ₹14.10 Cr
✓
ROE of 23.88% and ROCE of 18.18%
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
!
Modest PAT margin of 9.84%
!
Debt to equity of 1.13
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.