IC Electricals Company Limited, a manufacturer of electronic equipment for railway applications and provider of advanced engineering solutions to Indian Railways, has announced the opening of its Initial Public Offering (IPO) on July 3, 2026. The IPO will close on July 7, 2026. The company's equity shares are proposed to be listed on the NSE Emerge Platform of the National Stock Exchange of India Limited.
IPO Details
The IPO is a 100% fresh issue with an issue size of ₹47.91 crore. The price band is set at ₹94 to ₹99 per equity share, with a lot size of 1,200 equity shares. The listing platform is NSE Emerge.
IPO Timeline
- Anchor Book Opening: July 2, 2026
- Issue Opens: July 3, 2026
- Issue Closes: July 7, 2026
Share Allocation
The net issue comprises up to 45,97,200 equity shares. Market maker reservation is 2,42,400 equity shares. Allocation for Qualified Institutional Buyers (QIB) is not more than 22,86,000 equity shares. Non-Institutional Investors will receive not less than 6,98,400 equity shares, and Retail Investors not less than 16,12,800 equity shares.
Objects of the Issue
The net proceeds from the IPO are proposed to be utilized for funding working capital requirements of ₹3,360 lakhs and for general corporate purposes.
Offer Intermediaries
The Book Running Lead Manager is Nexgen Financial Solutions Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited. The Market Maker is Mansi Share and Stock Broking Private Limited.
Management Commentary
Mr. Sunil Kumar Verma, Managing Director of IC Electricals Company Limited, stated: "Our journey has been built on delivering reliable and innovative railway solutions backed by engineering excellence and strong execution capabilities. With a diversified portfolio, a healthy order book, and long-standing relationships with Indian Railways, we are well-positioned to benefit from the sector's ongoing modernization. The proposed IPO will strengthen our working capital, support efficient project execution, and enhance our ability to pursue future growth opportunities."
About IC Electricals Company Limited
IC Electricals Company Limited manufactures railway electronic equipment and provides engineering solutions to Indian Railways. Its portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, vigilance control devices, alternators, traction motors, and permanent magnet alternators with controllers, compliant with the latest technical standards. The company also undertakes turnkey railway electrification projects, including 25 kV AC overhead equipment and traction substations.
