Biocon Electric Files DRHP for Mainboard IPO of Up to 59 Lakh Shares

Multi-category electrical products company Biocon Electric Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering of up to 59,00,000 equity shares, proposed to be listed on the Main Board of BSE and NSE. The filing, reported on 7 October 2026, continues this season's rush of manufacturing companies toward public markets.

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 shares by the promoter selling shareholders. GYR Capital Advisors is the sole book running lead manager, with Bigshare Services as registrar. Net proceeds from the fresh issue are earmarked for working capital requirements (₹6,257.45 lakhs) and general corporate purposes.

Sold under the BIOCON brand, the company's portfolio spans 1,549 SKUs across PVC insulated wires and tapes, lighting, switches and accessories, and switchgear. Incorporated in 2019 with its registered office in Delhi and corporate office in Bengaluru, it runs three manufacturing facilities at Delhi, Ghaziabad and Vasai, supported by an assembly-and-testing unit and a packaging unit.

The distribution footprint is the real story: 1,915 channel partners — 1,531 dealers and 384 distributors — across 25 states and four union territories, with more than 10,000 electricians registered on its Biocon E-Pay engagement app. The promoter group brings deep industry tenure, from Milap Chand Jain's 40+ years in electricals marketing to the manufacturing and dealer-network experience of Prakash Chand Jain, Praveen Kumar Jain, Ranjeet Kumar Jain and Vikram Kumar.

Financially, revenue from operations grew at a 20.07% CAGR between FY2024 and FY2026 to ₹196.73 crore, with FY2026 PAT of ₹14.14 crore and a debt-equity ratio improving to 1.11 times.