IC Electricals IPO Opens Tomorrow; ₹47.91 Crore SME Issue to Hit Primary Market

Mumbai, June 24: Investors tracking upcoming SME public issues will have another offering to watch this week as IC Electricals IPO is set to open for subscription on June 25, 2026. The company aims to raise ₹47.91 crore through a fresh issue of equity shares, with bidding scheduled to remain open until June 30, 2026.

The IPO enters the market at a time when investor interest in SME offerings continues to remain healthy, particularly in manufacturing and industrial-focused businesses. As the subscription window opens tomorrow, attention will quickly shift to how retail, high-net-worth and institutional investors respond to the offer.

IC Electricals has fixed the price band at ₹94 to ₹99 per share, while investors will need a minimum investment of ₹2.37 lakh to participate in the issue.

IC Electricals IPO Details

IC Electricals IPO is a book-built issue aggregating ₹47.91 crore.

Issue Structure

• Fresh Issue: 45,97,200 equity shares aggregating up to ₹47.91 crore

The issue does not include an offer-for-sale component, meaning the entire amount raised will flow to the company.

The public issue comprises a total of 48,39,600 shares, including the market maker portion.

The company has appointed NEXGEN Financial Solutions Pvt. Ltd. as the book-running lead manager, while Skyline Financial Services Pvt. Ltd. is acting as the registrar to the issue.

Price Band and Lot Size

The IPO has been priced in the range of ₹94 to ₹99 per share.

Investors can apply for a minimum of 2 lots comprising 2,400 shares. At the upper end of the price band, the minimum investment required for retail investors comes to ₹2,37,600.

For HNI investors, the minimum application size begins at 3,600 shares, translating into an investment of ₹3,56,400.

Given the relatively high application amount, subscription trends in the retail and HNI categories will be closely monitored once bidding begins.

Allocation Structure

The net offer has been divided among investor categories as follows:

• QIB Portion: 22,86,000 shares (49.73%)
• NII Portion: 6,98,400 shares (15.19%)
• Retail Portion: 16,12,800 shares (35.08%)

In addition, 13,68,000 shares have been allocated to anchor investors ahead of the IPO opening.

The company has also reserved 2,42,400 shares for the market maker.

What Investors Will Watch

As subscription begins tomorrow, the initial focus will be on demand from retail and HNI investors.

In SME IPOs, subscription patterns often provide the first indication of market sentiment. Strong participation from retail investors can create momentum early in the bidding process, while institutional demand generally becomes clearer closer to the closing date.

Market participants will also watch whether anchor participation translates into broader investor interest during the public subscription period.

Important Dates

• IPO Opens: June 25, 2026
• IPO Closes: June 30, 2026
• Tentative Allotment: July 1, 2026
• Refund Initiation: July 2, 2026
• Credit of Shares: July 2, 2026
• Tentative Listing Date: July 3, 2026

About IC Electricals

IC Electricals is tapping the capital markets through a fresh issue to raise funds for its business requirements and future growth plans. The company operates in the electrical sector and will seek to leverage the IPO proceeds to strengthen its operations and expansion initiatives.

Conclusion

With subscription set to begin on June 25, IC Electricals IPO will enter the SME primary market with a ₹47.91 crore offering and a price band of ₹94 to ₹99 per share. The opening-day subscription figures will provide the first indication of investor appetite for the issue, while market participants will continue tracking demand trends until bidding closes on June 30.

Source:

• https://www.chittorgarh.com/ipo/ic-electricals-ipo/2754/