IC Electricals IPO opens today: Grey market hints at a robust 44% listing premium

IC Electricals IPO closed with an overwhelming subscription of 420.09 times, with NIIs booking 764.38 times, QIBs at 241.75 times, and retail at 372.51 times. Grey market premium of Rs 44 signals an estimated listing price of about Rs 143 against the upper band of Rs 99, indicating a potential near 45 percent listing gain. The company raised Rs 47.91 crore via a fresh issue of 48.39 lakh shares, with proceeds mainly for working capital; FY26 PAT rose 50 percent to Rs 14.10 crore on total income of Rs 143.81 crore.