Biocon Electric Files DRHP with SEBI to Raise Funds via 59 Lakh Share IPO

Multi-category electrical products manufacturer Biocon Electric has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise capital through an Initial Public Offering (IPO). The proposed public issue comprises up to 59,00,000 equity shares of face value ₹10 each and will be listed on the main boards of the National Stock Exchange of India (NSE) and BSE Limited.

Issue Structure and Promoter Dilution

The offering is structured as a mix of fresh issuance and a secondary stake sale by the founding promoters:

• Fresh Issue: Up to 48,00,000 fresh equity shares.
• Offer for Sale (OFS): Up to 11,00,000 equity shares offloaded by promoter selling shareholders.

The promoter selling shareholders—Prakash Chand Jain, Ranjeet Kumar Jain, Praveen Kumar Jain, Vikram Kumar, and Milap Chand Jain—will each offload up to 2,20,000 equity shares through the OFS window.

The book-building issue has earmarked the net offer across investor categories: * Not more than 50% for Qualified Institutional Buyers (QIBs), with up to 60% of the QIB portion available for anchor investors. * Not less than 15% for Non-Institutional Investors (NIIs). * Not less than 35% reserved for Retail Individual Investors (RIIs).

GYR Capital Advisors Private Limited is acting as the sole Book Running Lead Manager to the issue, while Bigshare Services Private Limited has been appointed as the registrar.

Utilisation of Proceeds

According to the draft papers, the company intends to utilise ₹62.57 crore (₹6,257.45 lakh) from the net proceeds of the fresh issue to fund its working capital requirements. The remaining funds will be allocated toward general corporate purposes.

Business Overview and Operations

Incorporated in 2019, Biocon Electric operates across the residential, commercial, industrial, and infrastructure electrical verticals under the "BIOCON" brand name. Its product range encompasses PVC insulated wires and cables, insulation tapes, LED lighting solutions, modular switches and accessories, miniature circuit breakers (MCBs), and residual current circuit breakers (RCCBs).

The company's SKU count expanded from 1,031 in FY24 to 1,549 SKUs in FY26. Biocon Electric operates manufacturing units across Delhi, Ghaziabad (Uttar Pradesh), and Vasai (Maharashtra), supported by dedicated assembly, testing, and packaging units in Vasai.

As of March 31, 2026, the company's distribution footprint reached across 25 states and 4 Union Territories through 1,915 non-exclusive channel partners (consisting of 1,531 dealers and 384 distributors). Furthermore, its electrician engagement initiative, the Biocon E-Pay application, had enrolled more than 10,000 electricians.

Financial Performance

Biocon Electric has demonstrated consistent top-line and bottom-line expansion leading up to its filing:

• Total Revenue: Total income rose by 37% to ₹198.17 crore in FY26 from ₹144.64 crore in FY25.
• Net Profit: Profit after tax (PAT) jumped 23% to ₹14.14 crore in FY26 compared to ₹11.50 crore reported in FY25.

The filing adds to the ongoing momentum in India's primary market, where domestic manufacturing, infrastructure suppliers, and electrical equipment providers are tapping public bourses to fund capacity expansion and strengthen their balance sheets.

Tags: Biocon Electric SEBI IPO BSE NSE Electrical Equipment