Electrical products maker Biocon Electric files DRHP with SEBI to launch IPO; key details

Biocon Electric, a multi-category electrical products company selling under the 'Biocon' brand, has filed its draft red herring prospectus with SEBI for an initial public offering of up to 59,00,000 equity shares. The shares are proposed to be listed on BSE Ltd and the National Stock Exchange of India Ltd (NSE Ltd).

The 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 of face value Rs 10 each by the promoter selling shareholders, with up to 2,20,000 shares each. Net proceeds from the fresh issue are proposed to be used for working capital requirements of Rs 62.57 crore and general corporate purposes.

GYR Capital Advisors is the book running lead manager and Bigshare Services is the registrar. Under the offer structure, the QIB portion will be not more than 50 per cent of the net offer. Non-institutional bidders will get not less than 15 per cent of the net offer and retail individual bidders not less than 35 per cent.

As of March 31, 2026, the company had 1,915 non-exclusive channel partners, comprising 1,531 dealers and 384 distributors, across 25 states and four Union Territories. Its product portfolio stood at 1,549 SKUs in FY2026, up from 1,031 in FY2024, across insulation tapes, lighting, wires and cables, switches and accessories, and switchgear products.

Biocon Electric had 12 BIS registrations and licences, ISO certification and a RoHS conformity certificate, and that certain products are on approved product lists of Public Works Department authorities in Goa and Uttar Pradesh. Revenue from operations grew at a CAGR of 20.07 per cent between FY24-26, reaching Rs 196.74 lakh in FY2026, while EBITDA stood at Rs 25.64 lakh and profit after tax at Rs 14.14 crore

Incorporated in 2019, Biocon Electric has its registered office in Delhi, corporate office in Bengaluru, and manufacturing facilities in Delhi, Ghaziabad and Vasai. More than 10,000 electricians were registered on its Biocon E-Pay application.