Electrical products maker Biocon Electric has filed its Draft Red Herring Prospectus (DRHP) with Sebi for an initial public offering of up to 59,00,000 equity shares. According to reports from The Economic Times and PTI, the proposed offer comprises a fresh issue of up to 48,00,000 equity shares and an offer for sale of up to 11,00,000 equity shares by promoter-selling shareholders, with each of the five selling shareholders offering up to 2,20,000 shares. The shares will have a face value of ₹10 each and are proposed for listing on the Main Board of BSE Limited and the National Stock Exchange of India Limited. The DRHP was dated September 29, 2026 and was put up on SEBI's public issues filing page on October 5, 2026. The company plans to use the proceeds from the fresh issue to meet its working capital requirements and for general corporate purposes.
As reported by The Economic Times, Biocon Electric's revenue from operations rose 37.94% to ₹19,673.37 lakh in FY2026 from ₹14,262.42 lakh in FY2025. The company's total income increased to ₹19,817.24 lakh in FY2026 from ₹14,463.89 lakh in FY2025. EBITDA rose 17.58% to ₹2,563.82 lakh in FY2026 from ₹2,180.45 lakh in FY2025, while profit after tax (PAT) increased 22.96% to ₹1,414.05 lakh from ₹1,150 lakh. The company's return on equity stood at 24.05% in FY2026, compared with 25.06% in FY2025 and 31.82% in FY2024. Net worth increased at a CAGR of 28.23% to ₹6,591.59 lakh as of March 31, 2026. According to Business Today, the company's profit after tax for FY26 is reported at ₹14.14 crore, while revenue from operations grew at a 20.07% CAGR between FY24 and FY26.
According to The Economic Times, of the net offer, not more than 50% will be available for allocation to qualified institutional buyers (QIBs), of which up to 60% may be allocated to anchor investors. The non-institutional bidder portion will account for not less than 15%, while retail individual bidders will be entitled to not less than 35% of the net offer. The company had 1,50,00,000 pre-offer equity shares outstanding. GYR Capital Advisors Private Limited is the book running lead manager to the offer, while Bigshare Services Private Limited is the registrar. As reported by Business Today, net proceeds from the fresh issue are earmarked for working capital of ₹62.57 crore and for general corporate purposes. The price band and minimum bid lot are still blank in the DRHP and will be advertised in newspapers at least two working days before bidding opens.
As reported by The Economic Times, Biocon Electric Limited, formerly incorporated in 2019, manufactures, processes, assembles, markets and distributes PVC insulated wires and tapes, lighting solutions, electrical switches and accessories, MCBs, RCCBs and other switchgear products. The company operates three manufacturing facilities in Delhi, Ghaziabad in Uttar Pradesh and Vasai in Maharashtra, supplemented by an assembly and testing unit and packaging operations at Vasai. As of March 31, 2026, 1,427 of the company's 1,915 channel partners were located in southern India. The company's debt-equity ratio improved to 1.11 times as of March 31, 2026, from 1.47 times as of March 31, 2025 and 1.64 times as of March 31, 2024. According to Business Today, the company sells across five product groups: insulation tapes, lighting, wires and cables, switches and accessories, and switchgear, with its range at 1,549 SKUs in FY26, against 1,031 in FY24. The company's reach was 1,915 channel partners as on 31 March 2026, comprising 1,531 dealers and 384 distributors across 25 states and four Union Territories. As of March 31, 2026, more than 10,000 electricians are registered on the company Biocon E-Pay app.
