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Explore how IC Electricals Company Ltd.’s IPO performed on its first day of subscription, including investor participation, price band details, dates, and the step-by-step process to apply through ASBA or UPI.
The IC Electricals Company Ltd. IPO opened for subscription on 3 July 2026 through the book-building route. The SME issue aims to raise funds primarily to meet the company's working capital requirements and for general corporate purposes. On the opening day, the IPO received investor participation, particularly from retail and non-institutional investors.
The IC Electricals Company Ltd. IPO opened to a positive response from investors on Day 1. As of 2:28 PM on 3 July 2026, the issue was subscribed 3.05 times overall, led by strong demand from Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs). Subscription figures are dynamic and may change until the market closes.
The IPO witnessed investor participation during the first day of bidding, with the retail and NII categories already recording multiple subscriptions.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs ex-anchors) |
0.00x |
Non-Institutional Investors (NIIs) |
5.89x |
Retail Individual Investors (RIIs) |
6.60x |
Overall |
3.05x |
The retail segment led the subscriptions on the opening day, followed closely by the NII category. While the QIB portion was yet to receive bids, the overall subscription indicates healthy investor interest in the SME issue.
The IC Electricals Company Ltd. IPO witnessed increased investor participation on the second day of bidding. By the close of Day 2, the issue was subscribed 6.57 times overall, driven by strong demand from Retail Individual Investors (RIIs) and healthy participation from Non-Institutional Investors (NIIs). The subscription figures indicate sustained investor interest in the SME IPO.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs) |
0.11x |
Retail Individual Investors (RIIs) |
9.79x |
Non-Institutional Investors (NIIs) |
7.35x |
Overall |
6.57x |
The retail segment continued to lead the subscription, recording nearly 10 times its allocated quota by the end of Day 2. The NII category also witnessed robust demand, while the QIB portion saw initial participation.
The IC Electricals Company Ltd. IPO concluded its subscription period with an overwhelming response from investors across all categories. On the final day of bidding, the issue was subscribed 180.98 times overall, driven by exceptional demand from Non-Institutional Investors (NIIs), strong participation from Retail Individual Investors (RIIs), and significant interest from Qualified Institutional Buyers (QIBs).
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs) |
40.74x |
Retail Individual Investors (RIIs) |
212.76x |
Non-Institutional Investors (NIIs) |
263.33x |
Overall |
180.98x |
The NII category recorded the highest demand, subscribing more than 263 times its allocated quota, while the retail portion witnessed subscriptions exceeding 212 times. The QIB segment also saw strong participation on the final day, subscribing over 40 times. The response across all investor categories reflects broad-based market interest in the IPO ahead of the basis of allotment scheduled for 8 July 2026.
The table below provides an overview of the issue details of the IPO:
| Particulars | Details |
|---|---|
Price Band |
₹94 to ₹99 per share |
Face Value |
₹10 per share |
Lot Size |
1,200 shares |
Minimum Investment |
₹1,18,800 (1 lot at the upper price band) |
Issue Size |
₹47.91 Crores |
Issue Type |
Book Building IPO |
Total Shares Offered |
48.40 Lakh shares |
Fresh Issue |
48.40 Lakh shares |
Listing Platform |
NSE SME |
The IPO consists entirely of a fresh issue of shares. The company plans to utilise the proceeds primarily to fund its working capital requirements, with the remaining amount allocated towards general corporate purposes.
For detailed insights about the company, issue particulars, and the latest updates, visit the IC Electricals Company Ltd. IPO on Bajaj Markets.
The following timeline outlines the important milestones associated with the IPO:
| Event | Date | Description |
|---|---|---|
IPO Open Date |
3 July 2026 |
Subscription window opens |
IPO Close Date |
7 July 2026 |
Last date to submit IPO applications |
Basis of Allotment |
8 July 2026 |
Expected allotment finalisation |
Initiation of Refunds |
9 July 2026 |
Refunds for unallotted applicants |
Credit of Shares |
9 July 2026 |
Shares credited to Demat accounts |
Listing Date |
10 July 2026 |
Expected listing on NSE SME |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the IC Electricals Company Ltd. IPO through either the ASBA facility offered by eligible banks or the UPI-based application process available through broker platforms.
This is a convenient and secure method where your application amount stays blocked until shares are allotted.
Log in to your internet banking account.
Go to the ‘Investments’ or ‘IPO Application’ section.
Select ‘IC Electricals Company Ltd. IPO’ from the available list.
Enter your preferred bid quantity and price.
Confirm and submit your application.
The bid amount will remain blocked in your account until allotment.
Upon allotment, the amount will be debited, and shares credited to your Demat account.
You can apply using UPI through your stockbroker’s or financial marketplace’s online platform.
Log in to your trading account or Demat account on your broker’s platform or financial marketplace.
Navigate to the IPO section and select ‘IC Electricals Company Ltd. IPO’.
Enter your application details including number of lots and price.
Provide your UPI ID linked to your bank account.
Approve the UPI mandate request on your UPI app (like BHIM, Google Pay, or PhonePe).
Funds will be debited only upon share allotment.
Once allotted, shares will be credited directly to your Demat account.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
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