IC Electricals Company SME IPO
IC Electricals Company IPO — date, price band, GMP & allotment 2026
IC Electricals Company Limited was incorporated in 2005 and is a New Delhi-based company focused on railway electrical and electronic solutions. The company operates a business-to-government (B2G) model, manufacturing power electronics, microprocessor-based control systems, instrumentation equipment, rotating machines and railway electrification solutions primarily for Indian Railways. It has manufacturing facilities in Haridwar and a strong presence across Delhi, Uttarakhand and several railway zones in India, supported by approvals from RDSO and the Ministry of Railways.
Stock price
IC Electricals Company is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 18 September.
- Open 03 Jul 2026
- Close 07 Jul 2026
- Allotment 08 Jul 2026
- Refund/credit 09 Jul 2026
- Listing 10 Jul 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 3 to 7 Jul, 2026 |
|---|---|
| Price Band | ₹94 – ₹99 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹47.91 Cr |
| Sale Type | Fresh capital only |
| Listing On | NSE SME |
| Registrar | Skyline Financial Services Private Limited |
| Min Investment | ₹ 2,37,600 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1200 shares at the ₹99 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,400 | ₹2,37,600 |
| Retail (max) | 2 | 2,400 | ₹2,37,600 |
| HNI (min) | 3 | 3,600 | ₹3,56,400 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Approved vendor for Indian Railways and related agencies.
- 02Specialised expertise in railway electrical systems.
- 03Strong manufacturing and engineering capabilities.
- 04Benefits from increasing railway infrastructure spending.
- 05Long operating track record in the sector.
Risks · 5
- 01High dependence on railway sector orders.
- 02Delays in government project execution.
- 03Working capital-intensive operations.
- 04Competitive bidding may pressure margins.
- 05Regulatory and policy changes affecting infrastructure spending.
Three years of numbers
All figures in ₹ crore, as reported in the IC Electricals Company offer document.
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 193.44 | 160.04 | 143.89 |
| Total Income | 143.81 | 122.39 | 99.75 |
| Profit After Tax | 14.10 | 9.41 | 4.62 |
| EBITDA | 25.66 | 18.34 | 12.14 |
| NET Worth | 65.74 | 51.71 | 33.22 |
| Reserves and Surplus | 50.20 | 36.12 | 27.11 |
| Total Borrowing | 75.42 | 55.79 | 47.81 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the IC Electricals Company RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
IC Electricals Company IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹7.72 |
| P/E Ratio (x) | 12.82 |
| Market Cap at Offer Price (₹ Cr) | ₹180.82 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹99 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹47.92 Cr of the issue is earmarked to named objects.
About the company
The company manufactures power electronics, control systems, rotating machines, instrumentation equipment and railway electrification products. It follows a business-to-government and industrial supply model, generating revenue through product manufacturing, project execution and maintenance services. The company is promoted by experienced professionals in the electrical engineering sector who continue to focus on innovation, quality and long-term industry relationships.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91 011 490507
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
NEXGEN FINANCIAL SOLUTIONS PRIVATE LIMITED
6 issues handledBest listing: Defrail Technologies (+28.4%). Weakest: Manilam Industries (-20.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IC Electricals Company?
The current Grey Market Premium is ₹47, or 47.5% over the issue price.
What is the IC Electricals Company IPO price band?
₹94 to ₹99, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 July 2026, with listing on 10 July 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Skyline Financial Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
