IC Electricals Announces ₹47.91 Cr IPO
IC Electricals Company Limited, a manufacturer of electronic equipment for railway applications and provider of engineering solutions to Indian Railways, issued a press release on July 2, 2026 announcing the opening of its initial public offering. The IPO is a 100 % fresh issue of ₹47.91 crore, with a price band of ₹94 to ₹99 per equity share and a lot size of 1,200 shares. Subscription will commence on Friday, July 3, 2026 and close on Tuesday, July 7, 2026; the anchor transaction is scheduled for Thursday, July 2, 2026.
The net issue comprises up to 45,97,200 equity shares. Allocation is structured as follows: 2,42,400 shares are reserved for market makers, up to 22,86,000 shares are earmarked for qualified institutional buyers (QIBs), not less than 6,98,400 shares for non‑institutional investors, and not less than 16,12,800 shares for retail investors.
Proceeds are intended to fund working capital requirements amounting to ₹3,360 lakhs, with the remaining amount allocated to general corporate purposes.
The book‑running lead manager for the issue is Nexgen Financial Solutions Private Limited, the registrar is Skyline Financial Services Private Limited, and Mansi Share and Stock Broking Private Limited has been appointed as market maker.
Managing Director Sunil Kumar Verma stated that the company’s diversified product portfolio, a healthy order book and long‑standing relationships with Indian Railways position it well to benefit from ongoing railway modernization. He added that the IPO will strengthen working capital, support efficient project execution and enhance the ability to pursue future growth opportunities.
IC Electricals’ product range includes regulators, battery chargers, emergency lights, inverters, microprocessor‑based control systems, vigilance control devices, alternators, traction motors and permanent‑magnet alternators with controllers, all compliant with the latest technical standards. The company also undertakes turnkey railway electrification projects, such as 25 kV AC overhead equipment and traction substations.
The release contains forward‑looking statements and a disclaimer that investors should read the offer documents, including the “Risk Factors” chapter, for a complete understanding of the risks involved.