IC Electricals 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.
IPO GMP
+₹47
+47% expected gain
Price Band
₹94 - ₹99
Lot Size
2400 shares
Min Investment
₹2,37,600
Listing Date
July 10, 2026
About IC Electricals
Company overview, business, and key facts.
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.
Founded
2005
Headquarters
New Delhi
Website
https://www.icelectricals.in/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Review: Neutral
Risks
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
IC Electricals IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Revenue growth, 2026
+17.5%
20.1% a year over the period
Profit growth, 2026
+49.8%
74.7% a year over the period
Profit margin (PAT)
9.8%
EBITDA margin 17.96%
ROE / ROCE
24.88% / 18.47%
As published in the offer document
GMP-implied gain per lot
₹1,12,800
2400 shares on ₹2,37,600. GMP is unofficial.
What stands out
- Profit grew 49.8% in 2026.
- GMP has been rising over the last three readings.
Watch-outs
- 1 use-of-proceeds item(s) have no disclosed amount.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: issue size, post-IPO share count (market cap and P/E not computable), published risk factors.
IPO Analysis SummaryAI-generated
A plain-language review of IC Electricals's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
IC Electricals IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, IC Electricals IPO is trading at a grey market premium (GMP) of +₹47 (+47% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 378.58x overall — QIB: 234.87x, NII: 558.48x, Retail: 355.43x.
IC Electricals IPO subscription has closed. The shares are expected to list on July 10, 2026.
The minimum investment required is ₹2,37,600 for 2400 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Key strengths include: Review: Neutral.
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
IC Electricals IPO — Frequently Asked Questions
What is IC Electricals IPO GMP today?
IC Electricals IPO GMP (grey market premium) today is +₹47, suggesting an estimated listing gain of +47%. GMP is indicative and subject to change.
What is the price band of IC Electricals IPO?
The price band for IC Electricals IPO is ₹94 - ₹99 with a lot size of 2400 shares. The minimum investment required is ₹2,37,600.
When is IC Electricals IPO allotment date?
IC Electricals IPO allotment is expected to be finalised on July 8, 2026. You can check your allotment status on the registrar's website (Skyline Financial Services Pvt.Ltd.) using your PAN number.
When will IC Electricals IPO list on NSE/BSE?
IC Electricals IPO is expected to list on NSE SME on July 10, 2026.
How to check IC Electricals IPO allotment status?
To check IC Electricals IPO allotment status, visit the registrar's website (Skyline Financial Services Pvt.Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for IC Electricals IPO?
IC Electricals IPO is showing a strong GMP of +₹47 (+47%), indicating positive market sentiment for listing gains. However, GMP is informal and not a guarantee of returns. Evaluate the company's fundamentals, price band, and your own risk appetite before applying. IPOLyst is not a SEBI-registered investment advisor — please do your own research.
What is the lot size of IC Electricals IPO?
The lot size for IC Electricals IPO is 2400 shares per lot. The minimum investment for retail investors is ₹2,37,600. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.