Kanohar Electricals IPO to open on September 8; check price band, other key details
The equity shares have a face value of Rs 2 each. Investors can bid for a minimum of 23 shares and in multiples of 23 thereafter. At the upper end of the price band, a minimum lot will cost Rs 14,536.
- Sep 3, 2026,
- Updated Sep 3, 2026 1:07 PM IST
Kanohar Electricals Ltd has fixed the price band for its maiden initial public offering (IPO) at Rs 601-632 per equity share. The IPO will open for subscription on Tuesday, September 8, and close on Thursday, September 10, 2026.
The equity shares have a face value of Rs 2 each. Investors can bid for a minimum of 23 shares and in multiples of 23 thereafter. At the upper end of the price band, a minimum lot will cost Rs 14,536.
The public issue comprises a fresh issue of shares worth up to Rs 300 crore and an offer-for-sale (OFS) of up to 11,957,915 shares by promoter K Sons Family Trust. The company's outstanding equity share capital currently comprises 74,440,000 shares.
Of the proceeds from the fresh issue, Rs 64.1 crore will be used to fund capital expenditure at the company's Gangol manufacturing facility. This includes purchasing machinery and equipment to increase transformer manufacturing capacity, expanding and automating backward integration facilities, improving operational efficiency, civil construction and interior development of an office building, and sustainability initiatives such as setting up solar power plants and purchasing electric vehicles for handling and movement at the facility.
Another Rs 155 crore from the fresh issue will be used to fund incremental working capital requirements, with the remaining amount earmarked for general corporate purposes.
The IPO is being made through the book-building process. Not more than 50 per cent of the net offer will be available for allocation to qualified institutional buyers (QIBs), while not less than 15 per cent will be reserved for non-institutional bidders (NIIs) and not less than 35 per cent for retail individual bidders (RIIs).
According to the CARE Report cited in the company's announcement, Kanohar Electricals was one of the leading domestic transformer manufacturers by revenue in fiscal 2026.
As of March 31, 2026, the company was one of five companies in India with short-circuit test certification for 500 MVA, 400 kV transformers used in power transmission.
The company's revenue from operations rose to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24, while net profit increased to Rs 129.7 crore from Rs 17.7 crore during the same period.
Nuvama Wealth Management and IIFL Capital Services are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The equity shares are proposed to be listed on both NSE and BSE.
Kanohar Electricals Ltd has fixed the price band for its maiden initial public offering (IPO) at Rs 601-632 per equity share. The IPO will open for subscription on Tuesday, September 8, and close on Thursday, September 10, 2026.
The equity shares have a face value of Rs 2 each. Investors can bid for a minimum of 23 shares and in multiples of 23 thereafter. At the upper end of the price band, a minimum lot will cost Rs 14,536.
The public issue comprises a fresh issue of shares worth up to Rs 300 crore and an offer-for-sale (OFS) of up to 11,957,915 shares by promoter K Sons Family Trust. The company's outstanding equity share capital currently comprises 74,440,000 shares.
Of the proceeds from the fresh issue, Rs 64.1 crore will be used to fund capital expenditure at the company's Gangol manufacturing facility. This includes purchasing machinery and equipment to increase transformer manufacturing capacity, expanding and automating backward integration facilities, improving operational efficiency, civil construction and interior development of an office building, and sustainability initiatives such as setting up solar power plants and purchasing electric vehicles for handling and movement at the facility.
Another Rs 155 crore from the fresh issue will be used to fund incremental working capital requirements, with the remaining amount earmarked for general corporate purposes.
The IPO is being made through the book-building process. Not more than 50 per cent of the net offer will be available for allocation to qualified institutional buyers (QIBs), while not less than 15 per cent will be reserved for non-institutional bidders (NIIs) and not less than 35 per cent for retail individual bidders (RIIs).
According to the CARE Report cited in the company's announcement, Kanohar Electricals was one of the leading domestic transformer manufacturers by revenue in fiscal 2026.
As of March 31, 2026, the company was one of five companies in India with short-circuit test certification for 500 MVA, 400 kV transformers used in power transmission.
The company's revenue from operations rose to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24, while net profit increased to Rs 129.7 crore from Rs 17.7 crore during the same period.
Nuvama Wealth Management and IIFL Capital Services are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The equity shares are proposed to be listed on both NSE and BSE.