IC Electricals share price hit the 5% upper circuit on Friday, 10 July, after making a blockbuster stock market debut earlier in the day on NSE Emerge. IC Electricals share price today listed at ₹166, a 67.7% premium to the issue price of ₹99, on NSE SME.
The IC Electricals IPO was subscribed 295.08 times during the three-day bidding period, which opened on 3 July and closed on 7 July. The company had fixed the price band at ₹94– 99 per equity share.
IC Electricals Company Limited is engaged in the manufacturing of advanced electrical and electronic systems for the Indian Railways, primarily operating under a Business-to-Government (B2G) model. The company primarily serves government agencies, including the Ministry of Railways, by supplying a wide range of railway equipment and engineering solutions.
Its product portfolio comprises Electronic Rectifier-cum-Regulating Units (ERRUs), Vigilance Control Devices (VCDs), regulated battery chargers, emergency lighting and inverter systems, GPS-based Passenger Announcement and Information Systems (PAPIS), and alternators, traction motors, and permanent magnet alternators.
In addition to manufacturing, IC Electricals undertakes turnkey railway electrification projects, offering end-to-end services covering the design, engineering, supply, installation, testing, and commissioning of 25 kV AC overhead electrification (OHE) systems and traction substations.
The company has executed several key railway electrification projects across India, including the Gorakhpur–Kaptanganj–Valmiki Nagar route under the North Eastern Railway and the Ara–Sasaram section for the East Central Railway.
As of 31 May 2026, IC Electricals had a workforce of 288 permanent employees.
Financially, the company reported steady growth in FY26. Total income increased 18% year-on-year to ₹143.81 crore, compared with ₹122.39 crore in FY25, while profit after tax (PAT) jumped 50% to ₹14.10 crore from ₹9.41 crore in the previous year.
Over the past three financial years, IC Electricals has delivered consistent business expansion. Revenue grew from ₹99.75 crore in FY24 to ₹143.81 crore in FY26, while net profit nearly tripled from ₹4.62 crore to ₹14.10 crore, reflecting improving operational performance and profitability.
IC Electricals IPO details
IC Electricals Company, a New Delhi-based manufacturer of electronic equipment and engineering solutions for railway applications, raised ₹47.91 crore through its initial public offering. The public issue comprised a fresh issue of 48.39 lakh equity shares, with no offer-for-sale component.
The anchor investor book attracted participation from several marquee investors, including Ashish Kacholia-backed Bengal Finance and Investment, SageOne-Flagship Growth OE Fund, Pine Oak Global Fund, Akalpya India Equity Fund, and Arthasanchay Growth Fund.
The company intends to utilise the IPO proceeds primarily to meet its working capital requirements, earmarking ₹33.60 crore for this purpose. The remaining funds will be used for general corporate purposes, including business expansion and other operational needs.
NEXGEN Financial Solutions Pvt. Ltd. is the Book Running Lead Manager to the issue, while Skyline Financial Services Pvt. Ltd. has been appointed as the registrar. Mansi Share & Stock Broking Pvt. Ltd. is acting as the market maker for the IPO.
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