
IC Electricals IPO
ICEL
Last updated on 23/10/2026 | 07:00 IST
IC Electricals IPO is a book built issue of ₹48,39,600 crores. The issue is entirely a fresh issue. The subscription opens on 25 Jun '26 and closes on 30 Jun '26, with the basis of allotment expected to be finalised on 01 Jul '26. The shares are scheduled to list on NSE with a tentative listing date fixed for 03 Jul '26. The price band is set at ₹94 to ₹99 per share with a minimum lot size of 1,200 shares. NEXGEN Financial Solutions Pvt.Ltd. is the book-running lead manager, while Skyline Financial Services Pvt.Ltd. is the registrar of the issue; for detailed information, refer directly to the official IC Electricals IPO RHP.
Free Demat with Zero AMC*
+ Free 1st Year AMC
IC Electricals IPO Dates & Details
Open Date
25 Jun '26
Close Date
30 Jun '26
Allotment Date
01 Jul '26
Refund Date
02 Jul '26
Listing Date
03 Jul '26
Price Range
₹94 - ₹99
Min Investment
₹2,37,600
Lot Size
1,200
Listing at
NSE
IPO Document
IC Electricals IPO Subscription Breakdown
| Investory Category | Subscription Percentage | Amount Raised (₹ Crores) |
|---|---|---|
| Qualified Institutional Buyers (QIBs) | 50% | 24,19,800 crores |
| Non-Institutional Investors (NIIs) | 15% | 7,25,940 crores |
| Retail Individual Investors (RIIs) | 35% | 16,93,860 crores |
About IC Electricals Company Ltd IPO
Incorporated in 2005, IC Electricals Company Limited manufactures electronic equipment and engineering solutions for the railway sector. The company supplies a wide range of railway products such as electronic regulators, battery chargers, emergency lighting systems, inverters, vigilance control devices, microprocessor-based control systems, and passenger information systems that comply with Indian Railways' technical standards.
Apart from manufacturing, the company also undertakes railway electrification projects, including the design, supply, installation, testing, and commissioning of 25 kV AC overhead equipment and traction substations. Its product portfolio further includes alternators, traction motors, and permanent magnet alternators with controllers used in railway operations.
IC Electricals primarily serves government customers, particularly Indian Railways and its associated departments. The company has successfully executed several railway electrification projects across different railway zones, strengthening its presence in the railway infrastructure segment.
The company operates well-equipped manufacturing facilities and maintains a nationwide service network with support centers and representatives across state capitals to ensure timely customer service. As of May 31, 2026, IC Electricals employed 288 permanent staff members.
IC Electricals IPO Strengths & Weaknesses
Established player in railway electronics and electrification solutions with over two decades of industry experience.
Diverse portfolio of railway products catering to safety power management and passenger information requirements.
Strong focus on research and development enabling compliance with evolving railway standards.
Proven execution capabilities demonstrated through successful railway electrification projects.
Nationwide service and support network ensuring faster response and customer assistance.
Experienced management team with deep expertise in railway engineering and infrastructure.
Well-equipped manufacturing facilities supporting quality production and operational efficiency.
A significant portion of revenue is dependent on contracts from Indian Railways and government entities.
Delays in government orders tender approvals or project execution could impact revenue growth.
Intense competition in the railway equipment and infrastructure sector may put pressure on margins.
Dependence on suppliers for critical raw materials and components could affect production schedules.
High working capital requirements may increase reliance on external funding and borrowings.
Any regulatory action blacklisting or debarment by government authorities could adversely impact future business opportunities.
IC Electricals IPO Issue Details
| Issue Composition: | |
|---|---|
| Face Value | ₹10 per share |
| Total Issue Size | 48,39,600 shares (aggregating up to ₹2,37,600 crores) |
| Fresh Issue | 4,59,720 shares (aggregating up to ₹45,97,200 crores) |
| Offer for Sale | 0 shares of ₹10 (aggregating up to To be announced) |
| Issue Type | Book Building IPO |
| Post-Issue Shareholding Pattern: | |
|---|---|
| Pre-Issue Shareholding | 82.92 shares |
| Post-Issue Shareholding | 60.94 shares |
IC Electricals IPO Shares
| Minimum Shares | Maximum Shares |
|---|---|
| -- | -- |
The lot size of IC Electricals ipo has been designed to ensure broad participation while maintaining optimal price discovery.
How to Apply for IC Electricals IPO
- Log in to your Choice account
- Select IPO
- Enter the number of lots and your price
- Verify UPI ID
- Complete the transaction on your UPI app
IC Electricals IPO Contact & Registrar Details
Contact Details
Address
156 Dsidc Okhla Indl Area New Delhi
Phone Number
Registrar Details
Registrar Name
Skyline Financial Services Pvt.Ltd.
Phone Number
IC Electricals Lead Manager(s)
| Book Running Lead Manager(s) |
|---|
| NEXGEN Financial Solutions Pvt.Ltd. |


