New Delhi, July 3 -- The initial public offering (IPO) of electronic equipment manufacturer IC Electricals opened for public subscription on Friday, 3 July. The NSE SME IPO is a fresh issue of 48,39,600 shares of face value of Rs.10 each.

IC Electricals IPO has already been fully subscribed, and the grey market premium (GMP) of the stock suggests the potential of a listing gain of over 40%.

Meanwhile, ahead of the public issue, IC Electricals raised Rs.13.54 crore by allocating 13,68,000 shares at an average price of Rs.99 to anchor investors, which included Pine Oak Global Fund - Class B, SageOne Flagship Growth Open-Ended (OE) Fund, Bengal Finance and Investment Private Limited, Akalpya India Equity Fund, and ArthaSanchay Growth Fund....