IC Electricals Company Limited
Bookbuilding IPO · NSE
- Price band
- ₹94 - ₹99
- Lot size
- 1,200 shares
- Issue amount
- ₹47.91 cr
- Total subscription
- 420.17×
- Opens
- 3 Jul 2026
- Closes
- 7 Jul 2026
- Allotment
- 8 Jul 2026
- Listing
- 10 Jul 2026
Offer at a glance
Issue overview
- Issue size
- 48,39,600 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,12,800
- Fresh issue
- ₹47.91 cr
- Offer for sale
- ₹0 cr
- Registrar
- Skyline Financial Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,18,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,34,22,000
- Shares after issue
- 1,82,62,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,37,600 |
| sHNI | 3 | 3,600 | ₹3,56,400 |
| bHNI | 9 | 10,800 | ₹10,69,200 |
Share reservation
Subscription & GMP
Subscription by category
Reported 7 Jul 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 672 | 2,50,328 |
| HNIs(10L +) | 129 | 38,247 |
| HNIs (2-10L) | 65 | 24,290 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 9.09 | 2,197.11 |
| RETAIL | 15.97 | 5,947.79 |
| HNIs 2+ | 2.32 | 978.48 |
| HNIs 10+ | 4.6 | 4,308.94 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 10.49 | 7.28 | 3.92 |
| ROE | 24.88 | 23.28 | 15.79 |
| ROCE | 18.47 | 17.58 | 15.25 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 9.42 | 0 | 0 |
| POST IPO(PE) | 12.82 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Hind Rectifiers Limited | 78.20 | 1629.30 | 2.00 | 93.15 | 26.20 | 21.64 |
| IC Electricals Company Limited | 9.43 | 99.00 | 10.00 | 36.91 | 23.28 | 7.28 |
Company information
Company profile
Incorporated in 2005, IC Electricals Company Limited manufactures electronic equipment and provides engineering solutions for Indian Railways. The company offers a wide range of products, including battery chargers, emergency lights, inverters, control systems, vigilance devices, alternators, traction motors, and passenger information systems. It also undertakes railway electrification projects, handling design, supply, installation, testing, and commissioning of railway power systems. Operating mainly on a Business-to-Government (B2G) model, the company serves government departments, including the Ministry of Railways. IC Electricals has successfully completed several railway electrification projects across India. As of May 31, 2026, the company had 288 permanent employees.
Strengths
- Strong Railway Industry Expertise: Specialized product portfolio and project execution capabilities for Indian Railways.
- Focus on Innovation & R&D: Continuous research and development help maintain compliance with evolving railway standards.
- Nationwide Service & Manufacturing Network: Strong service support and well-equipped facilities enhance customer satisfaction and execution efficiency.
Risk factors
- High Dependence on Indian Railways: Revenue is largely tied to railway sector spending and government contracts.
- Regulatory & Tender-Based Risks: Business is subject to tender processes, approvals, and policy changes.
- Project Execution Risk: Delays or cost overruns in electrification and infrastructure projects may impact profitability.
Promoters
Mr. Sunil Kumar Verma
Mrs. Renu Verma
M/s SHBD LLP
M/s Safe System India Private Limited
Registrar & documents
Lead manager
NEXGEN Financial Solutions Private Limited
Registrar & contacts
Skyline Financial Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
156 DSIDC, Okhla INDL, Area Phase, North Delhi, New Delhi, 110020
+91 011 490507
[email protected]Company website ↗Understanding ICEL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.