Summary
The Kanohar Electricals IPO is a mainboard book-build IPO, scheduled to open on 8 September 2026 and close on 10 September 2026.
The price band is fixed at ₹601 to ₹632 per share, with a minimum application of 1 lot (23 shares).
The company plans to list its shares on both the NSE and BSE, with the tentative listing scheduled for 16 September 2026.
Kanohar Electricals IPO is a mainboard book-building issue that gives investors an opportunity to participate in the growth of a company operating in the power infrastructure sector. Kanohar Electricals manufactures transformers and also undertakes EPC projects for power transmission and distribution infrastructure. The IPO is scheduled to open on 8 September 2026 and close on 10 September 2026 with a price band of ₹601 to ₹632 per share.
Kanohar Electricals IPO Key Details
The table below presents the essential details investors should know before applying for the Kanohar Electricals IPO.
| IPO Open Date | 8 September 2026 |
| Close Date | 10 September 2026 |
| Face value | ₹2 per share |
| Price Band | ₹601 to ₹632 |
| IPO Lot Size | 23 shares |
| Fresh issue | ₹300 cr approx |
| Offer for Sale | 1,19,57,915 shares |
| Type of issue | Book-building |
| Listing at | NSE and BSE |
| Total Issue Size (₹ Crore) | ₹1,056 cr approx |
| Minimum Investment | 1 lot or 23 shares |
Kanohar Electricals IPO Timeline
Below is the complete schedule of events for the Kanohar Electricals IPO.
| Bid Opening | 8 September 2026 |
| Bid Closing | 10 September 2026 |
| Tentative Allotment | 11 September 2026 |
| Initiation of Refunds | 15 September 2026 |
| Credit of Shares to Demat | 15 September 2026 |
| Tentative Listing Date | 16 September 2026 |
| UPI mandate closing date | 10 September 2026 |
Key Performance Indicators of Kanohar Electricals IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 42.12 | 30.92 | 10.49 |
| ROCE (%) | 70.13 | 47.61 | 16.69 |
| Debt Equity (in times) | 0.10 | 0.13 | 0.24 |
| RoNW (%) | 34.80 | 26.78 | 9.97 |
| PAT Margin (%) | 19.57 | 14.24 | 6.32 |
| EBITDA margin (%) | 27.59 | 20.73 | 11.23 |
| Price to book |
Kanohar Electricals IPO Financial Details
The Financial information of the Kanohar Electricals IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 653.83 | 450.61 | 276.69 |
| Total Asset | 613.92 | 432.06 | 322.86 |
| Profit | 129.73 | 65.11 | 17.75 |
Kanohar Electricals IPO Subscription Status
| Date | QIB (Ex Anchor) | NII | Retail | Total |
|---|---|---|---|---|
| Sep 8 (Day 1) | 0.03 | 4.90 | 3.36 | 2.73 |
| Sep 9 (Day 2) | 6.50 | 19.22 | 8.49 | 10.22 |
| Sep 10 (Day 3) | 6.66 | 34.92 | 11.56 | 15.17 |
Kanohar Electricals IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Kanohar Electricals IPO shows a GMP of ₹205. Therefore, according to the status, the estimated listing price is ₹837.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 10-09-2026 Close | ₹240 ▲ | ₹872 (37.97%) | ₹5,520 | 10-Sep-2026 10:59 |
| 09-09-2026 | ₹223 ▲ | ₹855 (35.28%) | ₹5,129 | 9-Sep-2026 23:37 |
| 08-09-2026 Open | ₹218 ▲ | ₹850 (34.49%) | ₹5,014 | 8-Sep-2026 23:31 |
| 07-09-2026 | ₹196 ▼ | ₹828 (31.01%) | ₹4,508 | 7-Sep-2026 23:33 |
| 06-09-2026 | ₹205 ▲ | ₹837 (32.44%) | ₹4,715 | 6-Sep-2026 23:37 |
| 05-09-2026 | ₹190 ▼ | ₹822 (30.06%) | ₹4,370 | 5-Sep-2026 23:30 |
| 04-09-2026 | ₹205 ▲ | ₹837 (32.44%) | ₹4,715 | 4-Sep-2026 23:33 |
| 03-09-2026 | ₹200 ▲ | ₹832 (31.65%) | ₹4,600 | 3-Sep-2026 23:32 |
| 02-09-2026 | ₹0 ─ | ₹ (0.00%) | 2-Sep-2026 5:55 | |
| 01-09-2026 | ₹0 ─ | ₹ (0.00%) | 1-Sep-2026 5:55 | |
| 31-08-2026 | ₹0 ─ | ₹ (%) | 31-Aug-2026 16:30 |
GMP is the premium value of the share in the unofficial market before it opens for subscription.
Kanohar Electricals IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not more than 50% of the net offer |
| NIIs | Not less than 15% of the net offer |
| Retails | Not less than 35% of the net offer |
| Total |
Kanohar Electricals IPO Lot Sizes
Investors can refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount |
| Retail (Min) | 1 | 23 | ₹14,536 |
| Retail (Max) | 13 | 299 | ₹1,88,968 |
| S-HNI (Min) | 14 | 322 | ₹2,03,504 |
| S-HNI (Max) | 68 | 1,564 | ₹9,88,448 |
| B-HNI (Min) | 69 | 1,587 | ₹10,02,984 |
Kanohar Electricals IPO Prospectus
Investors can access the offered prospectus for the Kanohar Electricals IPO mentioned below.
About Kanohar Electricals Ltd.
Kanohar Electricals Limited is a Meerut-based power infrastructure company established in 1972. The company primarily manufactures transformers and also undertakes Engineering, Procurement and Construction (EPC) projects for power transmission and distribution infrastructure. Its transformer portfolio serves sectors such as power transmission, railways, renewable energy and power distribution. The company operates two manufacturing facilities in Meerut, Uttar Pradesh, and has developed specialised capabilities in manufacturing and testing high-capacity transformers, including 500 MVA transformers and Scott transformers used in railway electrification.
Promoters:
- Dinesh Singhal
- Adesh Singhal
- Vivek Singhal
- Abhishek Singhal
- Virat Singhal
- Aditya Singhal
- K Sons Family Ltd.
| Book Runner | Nuvama Wealth Management Ltd. IIFL Capital Services Ltd. |
| Issue Registrar | MUFG Intime India Pvt. Ltd. |
Purpose of Kanohar Electricals IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Estimated Amount in ₹ Crores |
| Funding for incremental working capital requirements | 155.00 |
| Funding for capital expenditure requirements, such as purchase of new machinery, interior development, and enhancing sustainable initiatives | 64.18 |
| General corporate purpose | _ |
| Total | _ |
Kanohar Electricals Ltd.- Strengths and benefits
- Specialised transformer capabilities: Kanohar has short-circuit testing certification for 500 MVA, 400 kV transformers and specialised certifications for manufacturing Scott transformers used in railway electrification. These capabilities can help it compete for technically demanding projects.
- Presence in both manufacturing and EPC: Apart from supplying transformers, the company also executes turnkey EPC projects involving substations and transmission lines. This allows it to participate in different parts of power infrastructure projects.
- Exposure to growing infrastructure sectors: The company supplies products to power transmission, railway electrification and renewable energy-related sectors, which are important areas of India’s infrastructure development.
Kanohar Electricals Ltd- Risks and limitations
- High customer concentration: A major portion of the company’s revenue comes from a limited number of customers. The top 10 customers contributed 93.16%, 93.88%, and 95.43% of its revenue from operations in FY26, FY25, and FY24, making the business vulnerable to the loss or reduction of orders from key customers.
- Raw material price risk: The company depends on materials such as insulated copper conductors, CRGO steel and transformer oil. Since it does not have long-term supply agreements for key materials, price increases or supply disruptions could affect margins and production.
- Dependence on government tenders: A significant share of revenue comes from contracts awarded by government entities and utilities. Delays in tenders, lower government spending or failure to win bids could affect future revenue and the order book.
Kanohar Electricals IPO Review
The Kanohar Electricals IPO is a mainboard issue to be listed on both the BSE and NSE, aiming to raise approximately ₹1,056 crore. The IPO is scheduled to open on September 8th, 2026 and close on September 10th, 2026, with a price band of ₹601–₹632 per share. The lot size of the IPO is 23 shares. The current GMP status shows a price of ₹205, with an estimated listing price of ₹837. However, the GMP price is unofficial and can change.
The funds raised through the fresh issue are proposed to be used mainly for incremental working capital requirements and capital expenditure, including new machinery and sustainable initiatives. However, investors must evaluate the details thoroughly before making a decision.
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Kanohar Electricals IPO FAQs
Kanohar Electricals IPO is a mainboard book-building issue through which the company plans to raise funds for working capital, capital expenditure, and general corporate purposes.
Investors can apply for the IPO through their broker or bank using the ASBA process or UPI, depending on the application method available to them.
The IPO has both positive and risk factors. Investors should consider the company’s financial growth, transformer and EPC business, customer concentration, raw material dependence, and government tender exposure before making a decision.
The Kanohar Electricals IPO is scheduled to open for subscription on 8 September 2026 and close on 10 September 2026.
The minimum lot size is 23 shares. At the upper price band of ₹632 per share, the minimum investment is approximately ₹14,536.
The tentative date for the Kanohar Electricals IPO allotment is 11 September 2026.
Kanohar Electricals shares are tentatively scheduled to list on the NSE and BSE on 16 September 2026.
