Kanohar Electricals Limited’s IPO to open on September 8; Price band fixed at Rs 601-632 per share
Kanohar Electricals Limited's IPO
POSTED BY MRUNALI SAKPAL ON DATED 03/09/2026 (8850212023)
- Price band of Rs 601 – Rs 632 per Equity Share bearing face value of Rs 2 each (“Equity Shares”)
- Bid/Offer Opening Date – Tuesday, September 08, 2026 and Bid/Offer Closing Date – Thursday, September 10, 2026
- Minimum Bid Lot is 23 Equity Shares and in multiples of 23 Equity Shares thereafter
Mumbai, (RMN): Kanohar Electricals Limited, one of the leading domestic players in transformer manufacturing, has fixed the price band for its maiden Initial Public Offering (IPO) at *Rs 601 to Rs 632 per equity share* with a face value of Rs 2 each.
The IPO will open for subscription on Tuesday, September 08, 2026 and close on Thursday, September 10, 2026. Investors can bid for a minimum of 23 equity shares and in multiples of 23 thereafter. The company’s outstanding equity as on date is 74,440,000 equity shares.
The Offer comprises a fresh issue of shares up to Rs 300 crore and an Offer-for-Sale (OFS) of up to 11,957,915 shares by promoter K Sons Family Trust.
Objects of the Issue:Out of the fresh issue proceeds, Rs 64.1 crore will be utilized for funding capital expenditure at its Gangol manufacturing facility. This includes purchase of new machinery to increase transformer manufacturing capacity, expanding and automating backward integration facilities, civil construction and interior development of an office building, setting up solar power plants for sustainability, and purchasing electric vehicles for internal movement. Rs 155 crore will be used for incremental working capital requirements and the balance for general corporate purposes.
The Offer is being made through the book-building process in compliance with SEBI ICDR Regulations. In terms of allocation, not more than 50% is reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Bidders (NIIs) and not less than 35% for Retail Individual Bidders (RIIs).
About the Company: With over 40 years of experience, Kanohar Electricals caters to high-growth industries such as power transmission, railways, renewable energy and power distribution. As of March 31, 2026, it is one of only five companies in India to have short-circuit test certification for 500 MVA, 400 kV transformers used in power transmission, having tested over 200 ratings.
It is also one of four manufacturers in India certified by RDSO, the R&D wing of Indian Railways, to manufacture 100 MVA, 132 kV Scott transformers and one of two certified for 100 MVA, 220 kV Scott transformers for railway electrification.
The company operates through two segments – Transformer Manufacturing and EPC Business. Under EPC, it undertakes turnkey projects for air-insulated and gas-insulated substations, bay augmentation up to 400 kV class, and transmission lines across 132 kV, 220 kV and 400 kV.
Financial Performance: The company’s revenue from operations grew from Rs 276.6 crore in FY24 to Rs 653.83 crore in FY26, while net profit surged from Rs 17.7 crore to Rs 129.7 crore during the same period.
Nuvama Wealth Management Limited and IIFL Capital Services Limited are the Book Running Lead Managers and MUFG Intime India Private Limited is the Registrar to the Offer. The equity shares are proposed to be listed on BSE and NSE.
