IC Electricals share price hits 5% upper circuit after blockbuster debut
IC Electricals surged 5% on their debut at ₹166, significantly above the issue price of ₹99. The IPO was heavily oversubscribed, with a 295.08 times demand. The company focuses on railway electrification and solutions for government agencies, reporting substantial growth in revenue and profit.
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.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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