IC Electricals Company IPO
Price band
₹94 – ₹99
Lot size
1200 shares
Min investment
₹1,18,800
Issue size
₹47.91 Cr
IPO schedule
| Open date | 25 Jun 2026 |
| Close date | 30 Jun 2026 |
| UPI mandate cut-off | 30 Jun 2026 |
| Allotment finalisation | 1 Jul 2026 |
| Refund initiation | 2 Jul 2026 |
| Shares credited to demat | 2 Jul 2026 |
| Listing date | 3 Jul 2026 |
| Mandate end date | 14 Jul 2026 |
| Anchor lock-in (50%) | 30 Jul 2026 |
| Anchor lock-in (remaining) | 28 Sept 2026 |
About IC Electricals Company
IC Electricals Company Limited is engaged in the manufacture of electronic equipment and electrical systems for railway applications, primarily serving Indian Railways and related railway-sector customers. The company offers a range of products including electronic rectifier-cum-regulating units, regulated battery chargers, emergency light units, inverters, microprocessor-based control systems, vigilance control devices, alternators, traction motors, and permanent magnet alternators with controllers. In addition to manufacturing, it undertakes railway electrification projects through its Contract Division, providing end-to-end services for 25 kV AC overhead equipment systems, including design, material supply, erection, testing, and commissioning. The company generates revenue from the sale of its products and services, including after-sales replacements and maintenance-related supplies. It primarily follows a business-to-government (B2G) model, with a significant portion of its revenue derived from contracts with the Ministry of Railways and related government entities. The company also holds approved supplier registrations with railway authorities and operates manufacturing facilities in Haridwar.
Strengths
- IC Electricals provides a wide range of electronic products and systems for Indian Railways.
- The company manufactures key railway components such as alternators, traction motors, and permanent magnet alternators.
- It executes turnkey railway electrification projects covering design, supply, installation, testing, and commissioning.
- The company holds approved supplier registrations with various directorates under the Ministry of Railways, including RDSO.
- It has been operating in the railway engineering and electrification business since its incorporation in 2005.
Risks
- A large portion of revenue depends on contracts from the Ministry of Railways and related government entities.
- The company operates in a highly competitive industry, which may put pressure on margins and market share.
- Any blacklisting or debarment by railway or government authorities could affect future business opportunities.
- The company is substantially dependent on working capital for its operations.
- Its business may be affected by dependence on suppliers of raw materials and components.
IPO information is sourced from public feeds and shown for general information only. It is not a recommendation to apply for this or any IPO. IPOs are equity investments and carry market risk; listing gains are not guaranteed and SME IPOs are especially volatile. Grey Market Premium (GMP) is unofficial and not endorsed by SEBI or the exchanges. Equity IPOs are applied for through a demat and trading account, not through mutual fund distribution services. Read the RHP and consult a SEBI-registered investment adviser before investing.