IC Electricals IPO opens today: Grey market signals a strong 40% listing premium

IC Electricals is launching its Rs 47.91 crore NSE SME IPO, comprising a fresh issue of 48.39 lakh shares at a price band of Rs 94-99, open from July 3 to July 7, 2026. Grey market premium stands at Rs 40, signaling an estimated 40% listing premium over the upper price band of Rs 99. The company, which manufactures electronic equipment for Indian Railways under a B2G model, reported FY26 total income of Rs 143.81 crore (up 18%) and PAT of Rs 14.10 crore (up 50%), with proceeds primarily earmarked for working capital.