IC Electricals is expected to finalize share allotment for its initial public offering on July 8, following a subscription window that closed earlier in the week.
The electronic equipment manufacturer’s fresh issue of 4,839,600 equity shares drew overwhelming demand, with the issue reported as oversubscribed by 420 times.
Investors can now check their allotment status through the websites of the National Stock Exchange, Bombay Stock Exchange, or the IPO registrar, Skyline Financial Services.
The strong subscription reflects continued appetite for small-cap listings in India, despite broader market volatility.
Grey-market premiums (GMP) for IC Electricals have risen in the days leading up to the allotment, signaling investor confidence in the company’s valuation and growth prospects.
The IPO opened on July 3 and secured full subscription on the first day of public bidding, underscoring the robust interest from retail and institutional participants.