IC Electricals IPO day 1: The initial public offering (IPO) of electronic equipment manufacturer IC Electricals opened for public subscription on Friday, 3 July. The NSE SME IPO is a fresh issue of 48,39,600 shares of face value of ₹10 each.
has already been fully subscribed, and the grey market premium (GMP) of the stock suggests the potential of a listing gain of over 40%.
Meanwhile, ahead of the public issue, IC Electricals raised ₹13.54 crore by allocating 13,68,000 shares at an average price of ₹99 to anchor investors, which included Pine Oak Global Fund – Class B, SageOne Flagship Growth Open-Ended (OE) Fund, Bengal Finance and Investment Private Limited, Akalpya India Equity Fund, and ArthaSanchay Growth Fund.
IC Electricals IPO GMP
According to grey market sources, the GMP of IC Electricals shares was ₹44 on Friday morning. This indicates the stock could list at a premium of more than 44% over the issue price.
IC Electricals IPO subscription status
By 12 pm on Friday, the SME IPO had seen an overall subscription of 2.3 times, with the retail portion booked 3.3 times, and NIIs subscribed to more than 3 times. The segment reserved for QIBs had yet to see any subscription till that time.
IC Electricals IPO details
1. IC Electricals IPO objects: According to the RHP, the company will use the net proceeds from the issue to meet the working capital requirements and for general corporate purposes.
2. IC Electricals IPO date: The SME IPO opened for subscription on Friday, 3 July, and will close on Tuesday, 7 July.
3. IC Electricals IPO price: The price band of the public issue has been fixed at ₹94 to ₹99 per share.
4. IC Electricals IPO size: The BSE SME IPO is a fresh issue of 48.40 lakh shares of face value of ₹10 each. There is no OFS portion in the issue.
5. IC Electricals IPO lot size: Retail investors can bid for a minimum and maximum of 2,400 shares.
6. IC Electricals IPO reservation: QIBs have been offered 22,86,000 shares (47.24% of the total issue). Retail investors have been offered 16,12,800 shares, or 33.33% of the total issue. The company has reserved 6,98,400 (14.43% of the total issue) for NIIs. The rest 5.01% is offered to the market maker.
7. IC Electricals IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Nexgen Financial Solutions Private Limited is the book-running lead manager, and Skyline Financial Services Private Limited is the registrar of the IC Electricals IPO.
8. IC Electricals IPO allotment date: The company is expected to finalise the share allotment on Wednesday, 8 July. Successful bidders can expect shares of the company to be credited to their demat accounts on Thursday, 9 July, and bidders who fail to receive the allocation may receive a refund on the same day.
9. IC Electricals IPO listing: As per SEBI’s T+3 rule of IPO listing, the IPO is proposed for listing on the NSE SME on Friday, 10 July.
10. IC Electricals business overview: As per the RHP, the company manufactures electronic equipment for railway applications. It provides advanced engineering solutions to the Indian Railways.
It offers a wide range of electronic products such as regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, and vigilance control devices.
The company’s profits for FY24, FY25, and FY26 were ₹4.62 crore, ₹9.41 crore, and ₹14.10 crore, respectively. Its revenue from operations for FY24, FY25, and FY26 were ₹99.25 crore, ₹121.89 crore, and ₹143.04 crore, respectively.
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