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IC Electricals
๐
Founded: 2005
๐ New Delhi
๐ฅ 288 employees
๐ icelectricals.in
๐ Face Value: โน10
๐ฆ Market Cap: โน181 Cr
Price Band
โน94 โ โน99
Issue Size
โน48 Cr
Lot Size
1200 shares
Min. Investment
โน1,18,800
GMP
+โน0 (+0%)
Est. Return
+0%
Listing Date
03 Jul 2026
Registrar
Skyline Financial Services
IPO Signal Analysis
๐ Based on Grey Market Premium (GMP) & Subscription Data โ not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
โญ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh Issueโน48 Cr
Offer for Sale (OFS)โ
Total Issue Sizeโน48 Cr
Face Valueโน10
Market Cap (at issue)โน181 Cr
Listing ExchangeNSE SME
๐
Open Date25 Jun 2026
๐ Close Date30 Jun 2026
โ๏ธ Cut-off Price Date30 Jun 2026
๐๏ธ Allotment Date01 Jul 2026
๐ธ Refund Initiation02 Jul 2026
๐ Demat Credit02 Jul 2026
๐ Listing Date03 Jul 2026
Objects of the Issue
- ๐ฐ Funding working capital requirements โ โน33.60 Cr
- ๐ฐ General Corporate Purposes
About the Company
Incorporated in 2005, IC Electricals Company Limited manufactures electronic equipment for Indian Railways and provides engineering solutions. Products include regulators, battery chargers, emergency lights, inverters, microprocessor control systems, vigilance control devices, alternators, traction motors, and permanent magnet alternators. The company also undertakes turnkey railway electrification projects covering 25 kV AC overhead equipment and traction substations. It operates on a B2G model primarily serving the Ministry of Railways with 288 permanent employees.
Strengths
- โ Sole B2G focus on Indian Railways โ a large and growing captive market
- โ Revenue grew 18% and PAT rose 50% in FY26 vs FY25
- โ CERT-empanelled quality systems with service centers in every state capital
- โ 288 permanent employees across engineering, testing and operations
Risk Factors
- โ ๏ธ Concentrated customer base โ highly dependent on Ministry of Railways
- โ ๏ธ Government spending and tender cycles affect revenue visibility
- โ ๏ธ Boosted recent bottom lines raise sustainability concerns per analysts
- โ ๏ธ Fully priced at current valuation per analyst reviews
Subscription Status
Not yet open
QIB: โ
NII: โ
RII: โ
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | โ | โ | โ | 0.00x |
| Day 2 | โ | โ | โ | 0.00x |
| Day 3 | โ | โ | โ | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for SME IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
82.92%
Pre-IPO
โ -22.0%
60.94%
Post-IPO
IPO Timeline
โ
Open Date
25 Jun 2026
โ
Close Date
30 Jun 2026
โ
Allotment Date
01 Jul 2026
โ
Listing Date
03 Jul 2026
Key Financials
Revenueโน144 Cr
PATโน14.1 Cr
EPSโน10.50
P/E Ratio9.4x
ROE23.9%
Market Capโน181 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 |
|---|---|---|
| Assets | 193.44 | 160.04 |
| Total Income | 143.81 | 122.39 |
| Profit After Tax | 14.10 | 9.41 |
| EBITDA | 25.66 | 18.34 |
| Net Worth | 65.74 | 51.71 |
| Reserves & Surplus | 50.20 | 36.12 |
| Total Borrowing | 0.00 | 0.00 |
Amount in โน Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 21.45 | 18.20 |
| EBITDA Margin (%) | 17.84 | 14.98 |
| Debt / Equity | 0.00 | 0.00 |
| Net Worth (Rs. Cr) | 65.74 | 51.71 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | โน10.50 | โ |
| P/E (x) | 9.4x | โ |
| ROE (%) | 23.9% | โ |
| Promoter Holding | 82.92% | 60.94% |
| Market Cap | โน181 Cr | |
IPO Registrar
IPO FAQs
IC Electricals IPO is a SME IPO with an issue size of โน48 Cr at a price band of โน94 โ โน99. Minimum lot size is 1200 shares (minimum investment ~โน1,18,800). Opens on 25 Jun 2026 and closes on 30 Jun 2026. Proposed listing on NSE SME. Registrar: Skyline Financial Services.