IC Electricals Company came to market through an SME IPO that opened on 3 July 2026 and closed on 7 July 2026, and the shares listed on 10 July 2026 on NSE SME. The price band was ₹94 to ₹99 per share and one lot was 1200 shares, so the minimum application was ₹1,18,800. The issue size was ₹47.91 crore. The whole issue was fresh shares, so the money raised went to the company.
Skyline Financial Services Pvt.Ltd was the registrar to the issue, and NEXGEN Financial Solutions Pvt.Ltd was the lead manager.
As of 7 July 2026.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Incorporated in 2005, IC Electricals Company Limited provides products and services relating to manufacture of electronic equipment and engineering services for railway use. Some of the products manufactured by the company include regulators, battery chargers, emergency lights, inverters, microprocessor control units, and vigilance control devices, all conforming to current technological standards. In addition, the company produces vital railway components, including alternators, traction motors, and permanent magnet alternators along with controllers.
IC Electricals also handles complete railway electrification projects including designing, supplying, erection, testing, and commissioning of 25 kV AC overhead lines and traction substations. The company works largely in the Business to Government (B2G) format dealing with government departments and ministries, especially the Ministry of Railways. Some of the major products produced by the company include Electronic Rectifier-cum-Regulating Units (ERRU), Vigilance Control Devices (VCD), Regulated Battery Chargers, and GPS based Passenger Announcement & Passenger Information Systems (PAPIS).
Some of the railway electrification projects undertaken by IC Electricals include Gorakhpur-Kaptanganj-Valmiki Nagar Railway section under the North Eastern Railway and Ara-Sasaram Railway section under the East Central Railway. As of May 31, 2026, the company employs 288 permanent staff members.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
|---|
IC Electricals Company Limited raised ₹13.54 crore from 5 anchor investors at ₹99 per share on July 2, 2026. Bengal Finance and Investment Pvt Ltd led the allocation at 36.84%, followed by Sageone Flagship Growth OE Fund at 29.47% and Pine Oak Global Fund – Class B at 14.74%.
s Safe System India Private Limited. Promoter holding 82.92% before the issue and 60.94% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
IC Electricals Company IPO was a ₹47.91 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹94–₹99 per share with a lot size of 1,200 shares; the minimum retail application was 2,400 shares (₹2,37,600). The IPO was open from July 3 to July 7, 2026 and was subscribed 420.16x. Shares listed on NSE SME on July 10, 2026 at ₹166, a 67.7% premium to the issue price of ₹99. Skyline Financial Services Pvt. Ltd.
is the registrar. NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager.
The price band of IC Electricals Company IPO is ₹94 to ₹99 per share.
The lot size of IC Electricals Company IPO is 1200 shares.
The minimum investment for IC Electricals Company IPO is approximately ₹2,37,600 based on the upper price band.
The allotment date of IC Electricals Company IPO is Jul 8, 2026.
IC Electricals Company IPO's final recorded GMP before listing was ₹38 per share (a 38% premium over the ₹99 upper price band). The shares listed at ₹166. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check IC Electricals Company IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the IC Electricals Company IPO allotment status on Rupix for quick and easy access.
₹94 to ₹99 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1200 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,18,800. After listing, SME shares also trade in lots rather than one share at a time.
₹1,18,800, for one lot of 1200 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 3 July 2026 and closed on 7 July 2026.
The basis of allotment was published on 8 July 2026 by Skyline Financial Services Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 10 July 2026 on NSE SME.
The issue size was ₹47.91 crore. The fresh issue was 48,39,600 shares (aggregating up to ₹47.91 crore).