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    Kanohar Electricals IPO

    Updated 15 Sept 2026, 8:00 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,536

    1 lot · 23 shares at the upper price band

    Price band

    ₹632

    Latest GMP

    ₹241

    +38.1% of the ₹632 upper band

    Est. listing price

    ₹873

    Issue size

    ₹1055.74 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    15 Sept 2026, 8:00 pm₹241₹873
    15 Sept 2026, 2:12 pm₹228₹873
    15 Sept 2026, 2:10 pm₹241₹873
    15 Sept 2026, 12:09 am₹241₹873
    15 Sept 2026, 12:08 am₹241₹873
    14 Sept 2026, 2:27 pm₹241₹873
    14 Sept 2026, 2:25 pm₹241₹873
    12 Sept 2026, 9:50 pm₹238₹868
    12 Sept 2026, 9:49 pm₹236₹868
    12 Sept 2026, 5:41 pm₹238₹868
    12 Sept 2026, 5:40 pm₹236₹868
    12 Sept 2026, 1:26 pm₹238₹868
    12 Sept 2026, 1:25 pm₹236₹868
    11 Sept 2026, 10:33 pm₹238₹868
    11 Sept 2026, 10:31 pm₹236₹868
    11 Sept 2026, 6:20 pm₹238₹868
    11 Sept 2026, 6:19 pm₹236₹868
    11 Sept 2026, 1:35 pm₹238₹868
    11 Sept 2026, 1:33 pm₹236₹868
    11 Sept 2026, 12:30 pm₹238₹868
    11 Sept 2026, 12:25 pm₹236₹868
    11 Sept 2026, 12:20 pm₹236₹868
    11 Sept 2026, 11:58 am₹236₹868
    10 Sept 2026, 11:47 pm₹232₹856
    10 Sept 2026, 11:07 pm₹229₹856
    10 Sept 2026, 11:00 pm₹224₹856
    10 Sept 2026, 10:30 pm₹232₹856
    10 Sept 2026, 10:29 pm₹224₹856
    10 Sept 2026, 6:26 pm₹230₹856
    10 Sept 2026, 6:25 pm₹224₹856
    10 Sept 2026, 4:50 pm₹224₹856
    10 Sept 2026, 1:38 pm₹224₹856
    10 Sept 2026, 11:43 am₹224₹856
    10 Sept 2026, 11:40 am₹224₹856
    10 Sept 2026, 11:39 am₹224₹856
    9 Sept 2026, 10:39 pm₹218₹850

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹632
    Issue size
    ₹1055.74 Cr
    Lot size
    23
    Opens
    8 Sept 2026
    Closes
    10 Sept 2026
    Allotment
    11 Sept 2026
    Listing
    16 Sept 2026
    Est. listing price
    ₹873
    Listing price
    Awaited
    Listing gain
    Awaited
    Registrar
    MUFG Intime India Pvt.Ltd.
    Minimum investment
    ₹14,536 (1 lot · 23 shares)
    Face value
    ₹2 per share
    Issue type
    Bookbuilding IPO
    Sale type
    Fresh capital cum OFS
    Fresh issue
    ₹300 Cr
    Offer for sale
    ₹756 Cr
    Listing at
    BSE, NSE
    Refunds
    15 Sept 2026
    Shares credited
    15 Sept 2026
    Promoter holding
    95.47% before · 74.65% after
    Lead managers
    Nuvama Wealth Management Ltd., IIFL Capital Services Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 10 Sept 2026, 6:54 pm.

    Total subscription

    90.59x

    Qualified Institutional215.37×
    Non Institutional87.74×
    Retail Individual20.51×

    Full issue details

    Details as published for this issue, read 15 Sept 2026, 12:21 am. Verify against the RHP before applying.

    IPO Details

    IPO Date8 to 10 Sep, 2026
    Listing DateWed, Sep 16, 2026 T
    Face Value₹ 2 per share
    Price Band₹601 to ₹632
    Issue Price₹632 per share
    Lot Size23 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size1,67,04,750 shares (agg. up to ₹ 1,056 Cr)
    Fresh Issue47,46,835 shares (agg. up to ₹ 300 Cr)
    Offer for Sale1,19,57,915 shares of ₹ 2 (agg. up to ₹ 756 Cr)
    Share Holding Pre Issue7,44,40,000 shares
    Share Holding Post Issue7,91,86,835 shares

    IPO Timetable (Tentative)

    IPO Open
    Tue, Sep 8, 2026
    IPO Close
    Thu, Sep 10, 2026
    Allotment
    Fri, Sep 11, 2026
    Refund
    Tue, Sep 15, 2026
    Credit of Shares
    Tue, Sep 15, 2026
    Listing
    Wed, Sep 16, 2026

    Issue Reservation

    • QIB50.00%
    • NII (HNI)15.00%
    • Retail35.00%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Total IssueMax Allottees
    QIB83,52,37450.00%NA
    - Anchor Investor50,11,42430.00%NA
    - QIB (Ex. Anchor)33,40,95020.00%NA
    NII (HNI)25,05,71315.00%NA
    - bNII > ₹10L16,70,47610.00%5,187
    - sNII < ₹10L8,35,2375.00%2,593
    Retail58,46,66335.00%2,54,202
    Total1,67,04,750100.00%—

    Kanohar Electricals IPO comprises a total issue size of 1,67,04,750 shares. Out of which, 83,52,374 (50.00%) are allocated to QIB , 25,05,713 (15.00%) allocated to NII 58,46,663 (35.00%) allocated to RII .

    IPO Lot Size

    Retail (Min)₹14,536
    Retail (Max)₹1,88,968
    S-HNI (Min)₹2,03,504
    S-HNI (Max)₹9,88,448
    B-HNI (Min)₹10,02,984
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)123₹14,536
    Retail (Max)13299₹1,88,968
    S-HNI (Min)14322₹2,03,504
    S-HNI (Max)681564₹9,88,448
    B-HNI (Min)691587₹10,02,984

    Investors can bid for a minimum of 23 shares and in multiples thereof.

    IPO Subscription Details

    IPO Anchor Investors

    Bid DateMon, Sep 7, 2026
    Shares Offered50,11,424
    Anchor Portion (₹ Cr.)316.72
    Anchor lock-in period end date for 50% shares (30 Days)Sun, Oct 11, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Thu, Dec 10, 2026

    Kanohar Electricals IPO raises ₹ 316.72 crore from anchor investors . Kanohar Electricals IPO Anchor bid date is September 7, 2026 .

    📝 Anchor Investors Letter (PDF)

    IPO Anchor Investors List

    About Kanohar Electricals Ltd.

    Incorporated in 1972, Kanohar Electricals Limited is engaged in the manufacturing of transformers in India. The Company caters to industries such as power transmission, railways, renewable energy and power distribution.

    The Company operates through two business segments: (i) transformer manufacturing and (ii) engineering, procurement and construction (EPC). It is one of four manufacturers in India certified by the Research Designs and Standards Organisation (RDSO), the research and development arm of Indian Railways, for manufacturing 100 MVA 132 kV Scott transformers.

    Kanohar Electricals Limited operates two manufacturing facilities in Rithani, Meerut, Uttar Pradesh (“Rithani Manufacturing Facility”) and Gangol, Meerut, Uttar Pradesh (“Gangol Manufacturing Facility” and collectively with Rithani Manufacturing Facility, “Manufacturing Facilities”) with an aggregate transformer manufacturing capacity of 19,200 MVA as on March 31, 2026.

    The Company has five regional offices located in NCT of Delhi, Mumbai, Maharashtra, Kolkata, West Bengal, Bangalore, Karnataka, and Chennai, Tamil Nadu, and a team of over 526 employees to cater to our customers across India.

    Company Financials (Restated)

    Total Income

    31 Mar 2024281.12
    31 Mar 2025457.30
    31 Mar 2026662.86

    Profit After Tax

    31 Mar 202417.76
    31 Mar 202565.12
    31 Mar 2026129.73

    EBITDA

    31 Mar 202431.07
    31 Mar 202593.39
    31 Mar 2026180.42

    NET Worth

    31 Mar 2024178.12
    31 Mar 2025243.13
    31 Mar 2026372.84
    Company Financials (Restated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets613.93432.07322.86
    Total Income662.86457.30281.12
    Profit After Tax129.7365.1217.76
    EBITDA180.4293.3931.07
    NET Worth372.84243.13178.12
    Reserves and Surplus357.95239.12174.11
    Total Borrowing39.0432.2742.08
    Amount in ₹ Crore

    Kanohar Electricals Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 99% between the financial year ending with March 31, 2026 and March 31, 2025.

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    Key Performance Indicator (KPI)

    ROE

    Mar 31, 202530.92%
    Mar 31, 202642.12%

    ROCE

    Mar 31, 202547.61%
    Mar 31, 202670.13%

    RoNW

    Mar 31, 202526.78%
    Mar 31, 202634.80%

    PAT Margin

    Mar 31, 202514.24%
    Mar 31, 202619.57%

    EBITDA Margin

    Mar 31, 202520.73%
    Mar 31, 202627.59%
    Key Performance Indicator (KPI): The percentage ratios only; the table's absolute figures stay in the table. Figures as published in the table below.
    KPIMar 31, 2026Mar 31, 2025
    ROE42.12%30.92%
    ROCE70.13%47.61%
    Debt/Equity0.100.13
    RoNW34.80%26.78%
    PAT Margin19.57%14.24%
    EBITDA Margin27.59%20.73%
    NAV50.0932.66
    Price to Book Value12.6219.35

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)17.4316.38
    P/E (x)36.2638.58
    Market Cap at Offer Price₹4,704.61 Cr.₹5,004.61 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group95.47%
    • Public4.53%

    Post IPO

    • Promoter and Promoter Group74.65%
    • Public25.35%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group95.47%74.65%
    Public4.53%25.35%
    Total100%100%

    Company Promoters: Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal and Aditya Singhal.

    Offer For Sale - Selling Shareholder

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    K.Sons Family TrustPromoter1,19,57,915755.74
    Total—1,19,57,915755.74

    Kanohar Electricals IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers2100
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)215.3733,40,95071,95,39,590
    NII87.7425,05,71321,98,49,456
    bNII (> ₹10L)94.0416,70,47515,70,86,665
    sNII (< ₹10L)75.148,35,2386,27,62,791
    Retail20.5158,46,66311,98,99,414
    Total90.591,16,93,3261,05,92,88,460

    The Kanohar Electricals IPO is subscribed 90.59 times on September 10, 2026 6:54:17 PM (Day 3). The public issue subscribed 20.51 times in the retail category, 215.37 times in the QIB category, and 87.74 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 49,23,272

    IPO Expenses

    #Issue ExpensesEst Amt (₹ Cr.)
    1Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission31.15
    2Commission/processing fee for SCSBs and Bankers to the Offer and fee payable to the Sponsor Banks for Bids made by RIBs using UPI1.56
    3Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs1.28
    4Fees payable to the Registrar to the Offer0.46
    5Fees payable to others10.86
    6Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses8.04
    7Printing and stationery0.04
    8Advertising and marketing expenses for the Offer4.48
    9Fee payable to legal counsels6.03
    10Miscellaneous1.35
    Total65.25

    IPO Registrar

    MUFG Intime India Pvt.Ltd.

    022-49186000

    kanoharelectricals.ipo@in.mpms

    IPO Lead Manager(s)

    Nuvama Wealth Management Ltd.

    IIFL Capital Services Ltd.

    Contact Details

    Kanohar Electricals Ltd. Address

    Rithani,

    Delhi Road

    Meerut, Uttar Pradesh , 250103

    121-3500801-05

    compliance@kanohar.com

    Kanohar Electricals IPO in the news

    Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.

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