The IPO is at the moment commanding a Gray Market Premium (GMP) of Rs 44, indicating an estimated itemizing value of round Rs 143 in opposition to the higher value band of Rs 99—a possible acquire of practically 45%. Nevertheless, traders ought to be aware that the gray market is unofficial, and GMP is simply an indicator of market sentiment, not a assure of itemizing efficiency.
The IC Electricals IPO acquired an amazing response from traders, with the general public subject being subscribed 420.09 occasions by the shut of bidding. The retail investor phase witnessed subscriptions of 372.51 occasions, whereas the Certified Institutional Consumers (QIBs) portion was booked 241.75 occasions. Demand was strongest within the Non-Institutional Traders (NIIs) class, which was subscribed 764.38 occasions.
The IPO was open for subscription from July 3 to July 7, 2026. The corporate raised Rs 47.91 crore by means of a completely contemporary subject of 48.39 lakh fairness shares, with the worth band fastened at Rs 94–99 per share.
The corporate plans to make use of the IPO proceeds primarily to strengthen its working capital, allocating Rs 33.60 crore for this objective. The remaining funds can be utilized for normal company functions, supporting enterprise enlargement and operational necessities.
About IC Electricals
Established in 2005, IC Electricals Firm Restricted manufactures superior digital gear and engineering options for the Indian Railways. Working largely underneath a Enterprise-to-Authorities (B2G) mannequin, the corporate provides merchandise to varied authorities departments, together with the Ministry of Railways.
Its product portfolio contains:
- Digital Rectifier-cum-Regulating Items (ERRU)
- Vigilance Management Units (VCD)
- Regulated Battery Chargers
- Emergency Lights and Inverters
- GPS-based Passenger Announcement & Info Programs (PAPIS)
- Alternators, Traction Motors and Everlasting Magnet Alternators
Aside from manufacturing, IC Electricals undertakes turnkey railway electrification tasks involving the design, provide, set up, testing and commissioning of 25 kV AC overhead electrification techniques and traction substations.
The corporate has efficiently executed key railway tasks, together with the Gorakhpur–Kaptanganj–Valmiki Nagar part underneath North Japanese Railway and the Ara–Sasaram part underneath East Central Railway.
As of Could 31, 2026, the corporate employed 288 everlasting workers.
For the monetary yr ended March 31, 2026:
Whole earnings elevated 18% to Rs 143.81 crore, in contrast with Rs 122.39 crore in FY25. Revenue after tax (PAT) surged 50% to Rs 14.10 crore, up from Rs 9.41 crore a yr earlier.
Over the past three monetary years, IC Electricals has maintained constant development, with income rising from Rs 99.75 crore in FY24 to Rs 143.81 crore in FY26, whereas web revenue practically tripled from Rs 4.62 crore to Rs 14.10 crore throughout the identical interval.
Lead Managers
The IPO managed by NEXGEN Monetary Options Pvt. Ltd. because the E book Working Lead Supervisor, whereas Skyline Monetary Companies Pvt. Ltd. is appearing because the registrar. Mansi Share & Inventory Broking Pvt. Ltd. has been appointed because the market maker.
(Disclaimer: Suggestions, ideas, views and opinions given by the consultants are their very own. These don’t symbolize the views of Financial Occasions)
