Railway Electronics - Listed on 10 July 2026
IC Electricals (Railway Electronics) closed its IPO window in 2026 and listed on NSE and BSE on 10 July 2026 at an upper band issue price of Rs 99 (+76.1% on closing basis). The IPO was subscribed 6.60x overall - QIB -, HNI/NII -, Retail -. The total issue size was Rs 47.91 Cr (Fresh Issue Rs 47.91 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Railway Electronics
IC Electricals operates in the Railway Electronics space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The IC Electricals issue was offered at an upper price of Rs 99 and raised approximately Rs 47.91 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 34 | +34.34% |
| Day 2 | Rs 34 | +34.34% |
| Day 3 | Rs 34 | +34.34% |
| Day 4 | Rs 43 | +43.43% |
| Day 5 | Rs 44 | +44.44% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the IC Electricals IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
IC Electricals IPO listed on 10 July 2026. Full listing price details are listed above.
IC Electricals IPO was subscribed 6.60x overall. QIB portion was subscribed -, HNI / NII - and Retail -.
IPO GMP started at Rs 34 on Day 1 and moved to Rs 44 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.