IC Electricals IPO day 1: GMP shows 44% listing pop; price, key dates, other details of the SME IPO

IC Electricals SME IPO opened for subscription on 3 July at a price band of Rs 94-99 per share, with a fresh issue of 48.40 lakh shares. The issue was oversubscribed 2.3 times by noon on day 1, while grey market premium of Rs 44 indicated a potential listing gain of around 44 percent. The electronic equipment maker for railway applications reported revenue growth from Rs 99.25 crore in FY24 to Rs 143.04 crore in FY26, with profits rising from Rs 4.62 crore to Rs 14.10 crore over the same period.