Kanohar Electricals IPO: The initial public offering (IPO) of power infrastructure equipment maker Kanohar Electricals Ltd. opens for public subscription today, aiming to raise Rs 1,055.74 crore from the primary market. The book-built issue comprises a fresh issue of 47.47 lakh equity shares worth Rs 300 crore and an offer for sale (OFS) of 1.20 crore equity shares aggregating to Rs 755.74 crore by existing shareholders.
Kanohar Electricals IPO: Price Band, Lot Size, Investment Details
Kanohar Electricals has set its price band at Rs 601 to Rs 632 per equity share. Retail investors can bid for a minimum lot of 23 shares, requiring a minimum investment of Rs 14,536 at the upper end of the price band. Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar to the issue.
ALSO READ: IPO Rush: 12 Mainboard IPOs To Raise Around Rs 7,180 Crore This Week: Check Full List
Kanohar Electricals IPO: Issue Timeline
Subscription Closes: September 10, 2026
Allotment Finalisation: Tentatively September 11, 2026
Refunds & Demat Credit: September 14-15, 2026
Tentative Listing Date: September 16, 2026
Proposed Listing: BSE and NSE
Kanohar Electricals IPO GMP
Shares of Kanohar Electricals are seeing robust traction in the unlisted market ahead of bidding. The grey market premium (GMP) stood at Rs 218 per share early Wednesday morning. Factoring in the upper price band of Rs 632, the stock signals an estimated listing price of Rs 850 per share, indicating potential listing gains of approximately 34.5%. Note that grey market premiums are unregulated, speculative indicators and can fluctuate rapidly based on broader market volatility.
ALSO READ: Prasol Chemicals IPO Day 1: Check Subscription Status, GMP, Other Key Details
Kanohar Electricals IPO: Should You Subscribe?
Leading domestic brokerages have initiated coverage on the public offer with positive recommendations, pointing to strong earnings momentum and favorable macro tailwinds in the power sector. Domestic brokerage Swastika Investmart highlighted Kanohar's integrated transformer manufacturing alongside its engineering, procurement, and construction (EPC) capabilities, which enable the firm to compete for large-scale utility contracts.
Financially, the company posted a 45% year-on-year surge in FY26 revenue to Rs 653.8 crore, while profit after tax nearly doubled to Rs 129.7 crore. Return ratios remained exceptional, with return on equity (ROE) at 42.1% and return on capital employed (ROCE) at 70.1%. Swastika noted that attractive valuations relative to listed peers make it a compelling long-term bet, though it cautioned that transformers accounted for 83% of FY26 revenues, presenting product concentration risk.
Anand Rathi Share and Stock Brokers: Recommended a 'Subscribe' rating, Anand Rathi noted that Kanohar Electricals IPO offers direct exposure to the structural expansion underway in India's transmission and distribution grid, driven by rising capital expenditure, renewable energy integration, and sustained demand for high-voltage transformers.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
