Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
IC Electricals Co. Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on to raise funds through Initial Public Offer (IPO).
IC Electricals Co. Ltd. IPO is a Book Build Issue consisting solely of fresh issue of upto 0.48 crore equity shares.
The equity shares are proposed to be listed on the NSE SME. NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to IC Electricals IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 48,40,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | 2,43,200 shares (agg. up to ₹[.] Cr) |
| Fresh Issue (Ex Market Maker) | 45,96,800 shares (agg. up to ₹[.] Cr) |
| Net Offered to Public | 45,96,800 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 1,34,22,000 shares |
| Share Holding Post Issue | 1,82,62,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Tue, Sep 30, 2025 |
| SEBI/Exchange approval received |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Incorporated in 2005, IC Electricals Company Limited is engaged in the manufacturing of electronic equipment for railway applications and in providing engineering solutions to Indian Railways.
The company offers a diverse range of electronic products including regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, and vigilance control devices, all compliant with the latest technical standards.
In addition, the company manufactures key railway components such as alternators, traction motors, and permanent magnet alternators with controllers. IC Electricals also undertakes turnkey railway electrification projects, covering design, supply, erection, testing, and commissioning of 25 kV AC overhead equipment and traction substation systems.
The company primarily operates on a Business-to-Government (B2G) model, catering mainly to government departments and ministries, including the Ministry of Railways. Its key product offerings include Electronic Rectifier-cum-Regulating Units (ERRU), Vigilance Control Devices (VCD), Regulated Battery Chargers, and GPS-based Passenger Announcement & Passenger Information Systems (PAPIS).
IC Electricals has successfully executed multiple railway electrification projects such as the Gorakhpur–Kaptanganj–Valmiki Nagar section under the North Eastern Railway and the Ara–Sasaram section under the East Central Railway.
As of August 31, 2025, the company employs 220 permanent staff members.
IC Electricals Co. Ltd.'s revenue increased by 23% and profit after tax (PAT) rose by 104% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 160.04 | 143.89 | 125.90 |
| Total Income | 122.39 | 99.75 | 98.19 |
| Profit After Tax | 9.41 | 4.62 | 1.71 |
| EBITDA | 18.34 | 12.14 | 8.14 |
| NET Worth | 51.71 | 33.22 | 28.60 |
| Reserves and Surplus | 36.12 | 27.11 | 22.58 |
| Total Borrowing | 55.79 | 47.81 | 39.33 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company. | 32.00 |
| 2 | General Corporate Purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 23.28% |
| ROCE | 17.58% |
| RoNW | 23.28% |
| PAT Margin | 7.64% |
| EBITDA Margin | 15.17% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.01 | 5.16 |
| Promoter Holding | 73.52% |
Lead Manager Reports
IC Electricals IPO is a SME IPO of 48,40,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The IC Electricals IPO open and close dates are not available as of now.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in IC Electricals IPO using UPI as a payment gateway. Zerodha customers can apply in IC Electricals IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IC Electricals IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IC Electricals IPO dates are not announced. Please check back again after some time.
IC Electricals IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in IC Electricals IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IC Electricals IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the IC Electricals IPO allotment status.
The IC Electricals IPO listing date is not yet announced. The tentative date of listing is .
