IC Electricals IPO Opens for Subscription; Issue Subscribed 1.48 Times on Day 1

Mumbai, July 3:The IC Electricals IPO opened for subscription on Friday and was fully subscribed within the first few hours of bidding. By 11:09 AM, the issue had been subscribed 1.48 times, driven by strong participation from retail and non-institutional investors, according to NSE data.

Investors had bid for 47.78 lakh shares against 32.29 lakh shares on offer at the time of the update. The ₹47.91 crore IPO is a book-built issue comprising a fresh issue of 48.39 lakh equity shares.

Subscription Status on Day 1

As of 11:09 AM, the subscription across investor categories stood at:

Retail investors and the non-institutional category accounted for most of the early bids, while the QIB portion had not received subscriptions at the time of the update.

Issue Details

IC Electricals has fixed the price band at ₹94-99 per share, with investors required to bid for a minimum of 1,200 shares. At the upper end of the price band, the minimum investment for a retail applicant works out to ₹2,37,600.

The public issue will remain open for subscription until July 7, 2026.

Important Dates

• IPO Opens: July 3, 2026
• IPO Closes: July 7, 2026
• Expected Allotment: July 8, 2026
• Refunds: July 9, 2026
• Shares Credited to Demat Accounts: July 9, 2026
• Tentative Listing: July 10, 2026

About IC Electricals

IC Electricals Limited manufactures electrical products used across industrial and infrastructure applications. The proceeds from the fresh issue will be used to meet business requirements and support the company’s expansion plans.

Conclusion

The IC Electricals IPO began on a firm note, crossing the fully subscribed mark within hours of opening. By 11:09 AM, the issue had been subscribed 1.48 times, with retail and non-institutional investors leading the response. Subscription figures are expected to change further over the remaining bidding period before the issue closes on July 7.

Source:

• https://www.chittorgarh.net/reports/anchor-investor/ic-electricals-anchor-list.pdf