Kanohar Electricals IPO: The initial public offering of Kanohar Electricals Ltd. will open for bidding in a few hours today. The IPO is a book build issue of Rs 1,055.74 crore.
Kanohar IPO is a combination of fresh issue of 47.47 lakh shares aggregating to Rs 300 crore and offer for sale of 1.20 crore shares aggregating to Rs 755.74 crore.
The IPO will close for subscription on Sept. 10, 2026. The allotment for the Kanohar Electricals IPO is expected to be finalized on Sep 11, 2026. Kanohar Electricals IPO will list on NSE and BSE with a tentative listing date fixed as Sep 16, 2026.
Kanohar Electricals IPO has fixed issue price band at Rs 601 to Rs 632 per share. The lot size for an application is 23 shares. The minimum amount of investment required by an individual retail investor is Rs 14,536 or 23 shares (based on upper price).
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar to the issue.
GMP Check
The trend for Kanohar Electricals shares remains strong in the unlisted market with the grey market premium (GMP) at Rs 196 as of 5:59 a.m. on Tuesday.
Kanohar Electricals IPO's estimated listing price is Rs 828 (cap price + today's GMP). The expected percentage premium per share is 31.01%.
Brokerage Takes
Swastika Investments has a bullish call on Kanohar Electricals IPO. In its analysis, the brokerage noted that integrated transformer manufacturing and Engineering, Procurement, and Construction capabilities support participation in large power projects.
However, it pointed out that 83% of FY26 revenue come from transformers, creating concentration risk. Swastika said that the company's financial health is strong, with FY26 revenue rising 45% to Rs 653.8 crore, while profit after tax nearly doubled to Rs 129.7 crore.
Return on equity stood at 42.1%, while return on capital employed came in at 70.1%. Along with this, the brokerage said that its attaractive valuation makes it a good long-term bet as compared to peers.
Anand Rathi Share and Stock Brokers Ltd. also recommended subscribing to the Kanohar Electricals IPO.
"The company offers exposure to the structural growth in India's power transmission and distribution sector, supported by rising grid investments, renewable energy integration and increasing demand for high-voltage transformers," the brokerage said in its note.
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