Biocon Electric, a multi-category electrical products company operating under the 'Biocon' brand, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The proposed IPO aims to offer up to 5,900,000 equity shares, which are intended to be listed on both BSE Ltd and the National Stock Exchange of India Ltd (NSE Ltd).
IPO Structure and Utilization of Funds
The offering comprises two main components: a fresh issue of up to 4,800,000 equity shares and an offer for sale (OFS) of up to 1,100,000 equity shares by the promoter selling shareholders, each offering up to 220,000 shares. Each equity share will have a face value of Rs 10.
The net proceeds generated from the fresh issue are primarily designated for the company's working capital requirements, with Rs 62.57 crore allocated for this purpose. The remaining funds will be utilized for general corporate purposes.
GYR Capital Advisors has been appointed as the book running lead manager for the IPO, while Bigshare Services will serve as the registrar. The allocation structure for the offer dictates that the Qualified Institutional Buyers (QIB) portion will not exceed 50 per cent of the net offer. Non-institutional bidders are allocated not less than 15 per cent, and retail individual bidders will receive not less than 35 per cent of the net offer.
Company Profile and Financial Performance
Incorporated in 2019, Biocon Electric maintains its registered office in Delhi, a corporate office in Bengaluru, and operates manufacturing facilities in Delhi, Ghaziabad, and Vasai. The company boasts a significant distribution network, comprising 1,915 non-exclusive channel partners, including 1,531 dealers and 384 distributors, spread across 25 states and four Union Territories as of March 31, 2026.
Biocon Electric's product portfolio expanded substantially, reaching 1,549 SKUs in FY2026, up from 1,031 in FY2024. Their diverse range includes insulation tapes, lighting solutions, wires and cables, switches and accessories, and various switchgear products. The company holds 12 BIS registrations and licenses, ISO certification, and a RoHS conformity certificate. Notably, certain products are also on the approved product lists of Public Works Department authorities in Goa and Uttar Pradesh. Furthermore, over 10,000 electricians are registered on its Biocon E-Pay application.
Financially, Biocon Electric reported a revenue from operations of Rs 196.74 lakh in FY2026, marking a Compound Annual Growth Rate (CAGR) of 20.07 per cent between FY24 and FY26. During the same fiscal year, the company's EBITDA stood at Rs 25.64 lakh, and its profit after tax reached Rs 14.14 crore.