IC Electricals IPO 2026: Dates, GMP, 420x Demand

Key dates and timetable

IC Electricals’ IPO is scheduled to open for subscription on July 3, 2026 and close on July 7, 2026. As per the timeline shared in the updates, the allotment is expected to be finalised on July 8, 2026. The shares are proposed to be listed on Friday, July 10, 2026. The issue is positioned as an NSE SME (NSE Emerge) listing, and the timeline is consistent with references to SEBI’s T+3 listing rule in the shared material. These dates are central for investors tracking the bidding window, allotment status, and listing day liquidity.

Issue structure: SME platform and fresh issue

The IC Electricals IPO is described as an NSE Emerge (SME) issue. The issue size is stated at ₹47.91 crore, and the offer is described as a 100% fresh issue. Another detail provided is that the IPO comprises 48.39 lakh equity shares as a fresh issue. A fresh issue structure typically means proceeds go to the company rather than existing shareholders selling their stakes, but the provided text does not detail the specific end-use of funds beyond noting “and this money will go where?” in a video snippet.

Price band, lot size, and minimum application amount

The IPO price band is reported as ₹94 to ₹99 per share, with a face value of ₹10. The lot size is 1,200 shares. In the provided breakdown, retail investors are required to apply for a minimum of 2 lots, which is also quantified as a retail minimum ticket of ₹2,37,600 at the upper band. Separately, another snippet mentions a minimum investment amount of ₹1,18,800, which aligns with a single lot at the upper price band (1,200 shares x ₹99). Together, these details indicate that while one lot equals ₹1,18,800 at ₹99, the retail minimum application described in the same data set is two lots, taking the minimum to ₹2,37,600.

Subscription: demand signals and category-wise data

The strongest demand figure cited is that the IPO saw total subscription of 420.09 times. The category split shared in the Hindi text shows retail (individual investors) subscribed 372.51 times, non-institutional investors (NII) subscribed 764.38 times, and qualified institutional buyers (QIB) subscribed 241.75 times. These figures indicate intense bidding across investor classes, with NII participation showing the highest multiple among the categories listed.

At the same time, another data point in the supplied material says the IPO was subscribed 67.42 times. Since both numbers are present in the inputs, investors should treat them as coming from different updates or snapshots, and verify the most recent exchange-published subscription status while tracking the issue.

Grey market premium (GMP): what the numbers suggest

Grey market activity is repeatedly cited as strong. Market observers are said to have seen IC Electricals IPO shares trading at a premium of around 40% to 45% in the grey market. The inputs also mention GMP values of ₹40, ₹44, and ₹45, and one headline references GMP surging 50%+.

Based on the figures provided, a GMP of ₹40 against the upper issue price of ₹99 implies an estimated listing price of ₹139. Another line in Hindi states the shares were trading with ₹42 premium in the grey market and could list near ₹141 (₹99 + ₹42). One update also shows an “estimated listing gain” of +45.5% alongside a GMP of ₹45. The supplied content explicitly notes that GMP is unofficial and should not be treated as a guarantee of listing performance.

Company snapshot: business line mentioned

The material describes IC Electricals as a company that makes electronic equipment for railways. Beyond that, the provided text does not include additional operational detail such as client names, order book, or capacity. As a result, the investable narrative in the supplied information is mainly driven by the IPO terms, demand data, and grey market indicators rather than business disclosures.

Financial pointers cited in the inputs

A short financial reference appears in a video transcript-style excerpt. It states that revenue is 18% (context suggests a growth figure), and that profit increased 50% to ₹14 crore. The inputs do not provide the base year, the period (annual or otherwise), or the audited source for these figures. Readers should therefore treat this as an indicative datapoint cited in commentary and cross-check with the IPO prospectus/offer document for exact financial statements.

Market impact: how investors are reading the signals

The combination of high subscription multiples and sustained grey market quotes is being interpreted as strong investor appetite for the issue. Reports in the supplied material repeatedly link the GMP range (₹40-₹45 or 40%-45% premium) to expectations of a listing premium over the issue price, with one estimate explicitly calculating a 40.40% potential gain at a ₹40 GMP.

However, the inputs also contain a separate remark that the market is showing “around 30% listing gain” in a brief segment, highlighting that expectations can vary by source and timing. With SME IPOs, liquidity and post-listing volatility can be higher than mainboard issues, so the official allotment and listing mechanics (July 8 allotment, July 10 listing) are likely to remain key near-term milestones for market participants.

Key IPO details at a glance

What to track next

The next concrete events on the calendar are the allotment finalisation on July 8 and the listing on July 10 on the NSE SME platform. Investors tracking the grey market numbers should remember that GMP is described in the supplied text as an unofficial indicator, not a certainty. For anyone applying, the practical considerations highlighted in the inputs are the relatively high retail application amount due to the 2-lot minimum and the fast-moving subscription and GMP updates across sources.