IC Electricals IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 99.75 | 122.39 | 143.81 |
| Expense | 93.72 | 109.75 | 124.88 |
| Profit (PAT) | 4.62 | 9.41 | 14.10 |
| Total Assets | 143.89 | 160.04 | 193.44 |
Promoters: Mr. Sunil Kumar Verma, Mrs. Renu Verma, M/s SHBD LLP and M/s Safe System India Private Limited
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,34,22,000 | 82.92% |
| Promoter Holding Post Issue | 1,82,61,600 | 60.94% |
Strengths & Risks
- Heavily oversubscribed — 420.2x overall (so far).
- Strong institutional (QIB) demand — 241.8x.
- Revenue grew 18% in the latest reported year.
- Solid profit margin — 9.8%.
- Strong return on equity — 25%.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
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.
| Purpose | Amount (Cr) |
|---|---|
| Funding the working capital requirements of the Company | 33.60 |
| General Corporate Purpose | 7.01 |
Resources & Documents
IC Electricals Co.Ltd., 156 DSIDC, Okhla INDL, Area Phase, North Delhi, New Delhi, 110020
IC Electricals has set a price band of Rs 94–Rs 99 per share for an issue size of Rs 48 crore. The stock listed with a 67.68% gain versus its issue price on July 10, 2026.
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 issue is promoted by Mr. Sunil Kumar Verma, Mrs. Renu Verma, M/s SHBD LLP and M/s Safe System India Private Limited with NEXGEN Financial Solutions Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding the working capital requirements of the Company (Rs 34 crore) and General Corporate Purpose (Rs 7 crore).
Grey market is quoting a premium of +Rs 39 (+39.4% over issue price), up Rs 7 from the previous session. Final subscription data records overall subscription at 420.16x, retail at 372.50x, QIB at 241.75x, NII at 764.72x.
On fundamentals, the company is posting revenue growth of 17.5%, a profit margin of 9.8%, return on equity of 24.9% in its most recent reported period. Listed peers in this segment include Hind Rectifiers Ltd (P/E 99.50x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
Our data-driven engine currently flags this issue as a Strong Subscribe — the data suggests strong listing-day potential backed by healthy fundamentals. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
IC Electricals IPO GMP — What It Means
The latest grey market premium for IC Electricals IPO is ₹39 (+39.4%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For IC Electricals it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full IC Electricals GMP history and trend, or learn how grey market premium works and how reliable it is.
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