Kanohar Electricals IPO
Bookbuilding IPO | ₹1,056.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Sep 08, 2026
IPO Close
Thu, Sep 10, 2026
Price Band
₹601.00 to ₹632.00
Market Cap (Pre-IPO)
₹5,004.61 Cr
IPO Details
| IPO Date | Sep 08, 2026 to Sep 10, 2026 |
| Listing Date | Tentative: Sep 16, 2026 |
| Face Value | ₹2.00 per share |
| Price Band | ₹601.00 to ₹632.00 |
| Lot Size | 23 Shares (Minimum: ₹14,536.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹1,056.00 Crores |
| Total Shares Offered | 16,704,750 shares |
| Fresh Issue | 4,746,835 shares |
| Offer For Sale | 11,957,915 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.05x |
| NII | 14.65x |
| RII | 7.12x |
| Total | 7.00x |
Kanohar Electricals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 50.00 |
| Retail Shares Offered | 35.00 |
| NII Shares Offered | 15.00 |
Kanohar Electricals IPO Lot Size
Investors can bid for a minimum of 23 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,536 |
| Retail (Max) | 13 | 299 | ₹188,968 |
| S-HNI (Min) | 14 | 322 | ₹203,504 |
| S-HNI (Max) | 68 | 1,564 | ₹988,448 |
| B-HNI (Min) | 69 | 1,587 | ₹1,002,984 |
Kanohar Electricals Financial Information (Restated Consolidated)
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.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 613.93 | 432.07 | 322.86 |
| Total Income | 662.86 | 457.30 | 281.12 |
| Profit After Tax | 129.73 | 65.12 | 17.76 |
| EBITDA | 180.42 | 93.39 | 31.07 |
| NET Worth | 372.84 | 243.13 | 178.12 |
| Reserves and Surplus | 357.95 | 239.12 | 174.11 |
| Total Borrowing | 39.04 | 32.27 | 42.08 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 42.12% |
| ROCE (Return on Capital Employed) | 70.13% |
| Debt/Equity | 0.10 |
| RoNW (Return on Net Worth) | 34.80% |
| PAT Margin (Profit After Tax Margin) | 19.57% |
| EBITDA Margin | 27.59% |
| Price to Book Value | 12.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 17.43 | 16.38 |
| P/E (x) | 36.26 | 38.58 |
Company Overview
Kanohar Electricals Limited – Company Overview
- Kanohar Electricals Limited was incorporated in 1972 and is engaged in the manufacturing of transformers in India.
- The company caters to industries including power transmission, railways, renewable energy, and power distribution.
- Its business operates across two key segments:
- Transformer Manufacturing: Manufacturing of transformers for various power and infrastructure applications.
- Engineering, Procurement and Construction (EPC): Provides EPC services related to its business operations.
- The company is one of only four manufacturers in India certified by RDSO (Research Designs and Standards Organisation), the research and development arm of Indian Railways, for manufacturing 100 MVA 132 kV Scott transformers.
- Kanohar Electricals operates two manufacturing facilities in Rithani and Gangol, Meerut, Uttar Pradesh.
- As of March 31, 2026, the company had an aggregate transformer manufacturing capacity of 19,200 MVA across its two manufacturing facilities.
- The company has five regional offices located in NCT of Delhi, Mumbai, Kolkata, Bengaluru, and Chennai, enabling it to serve customers across India.
- As of March 31, 2026, the company had a team of over 526 employees.
Use of Proceeds
| 1) | Funding the capital expenditure requirements of Company | 64.18 |
| 2) | Funding the incremental working capital requirements of Company | 155.00 |
| 3) | General Corporate Purposes | |
| Total | 219.18 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Kanohar Electricals IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Kanohar Electricals | 17.43 | 17.43 | 50.09 | - | 34.80 | - | Consolidated |
| Hitachi Energy India | 221.63 | 221.63 | 1,161.56 | 159.55 | 19.08 | 30.44 | Consolidated |
| Bharat Heavy Electricals | 4.60 | 4.60 | 74.99 | 91.30 | 6.13 | 5.60 | Consolidated |
| Schneider Electric Infrastructure | 8.89 | 8.89 | 30.67 | 155.12 | 28.98 | 44.96 | Consolidated |
| CG Power and Industrial Solutions | 7.72 | 7.71 | 48.11 | 114.77 | 15.82 | 18.42 | Consolidated |
| Transformers & Rectifiers (India) | 9.07 | 9.07 | 51.39 | 32.19 | 17.64 | 5.68 | Consolidated |
| GE Vernova T&D India | 48.16 | 48.16 | 42.87 | 89.37 | 45.85 | 100.40 | Consolidated |
Quick Info
| Sector | power infrastructure and heavy electrical equipment manufacturing |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹5,004.61 Cr |
Important Dates
| IPO Open | Sep 08, 2026 |
| IPO Close | Sep 10, 2026 |
| Allotment Date | Sep 11, 2026 |
| Credit to Demat | Sep 15, 2026 |
| Listing Date | Tentative: Sep 16, 2026 |
Lead Manager(s)
Nuvama Wealth Management Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹1,055.74 crores.
- Issue Structure: The issue is a combination of a fresh issue of 47.47 lakh shares aggregating to ₹300.00 crores and an offer for sale of 1.20 crore shares aggregating to ₹755.74 crores.
- IPO Dates: The issue opens for subscription on September 8, 2026 and closes on September 10, 2026.
- Allotment Date: The allotment is expected to be finalized on September 11, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 16, 2026.
- Retail Investment Requirement: Minimum 1 lot (23 shares) amounting to approximately ₹14,536 at the upper price band.
- Issue Price Band: ₹601 to ₹632 per equity share.
- Lot Size: 23 shares per lot.
This IPO offers investors an opportunity to participate in the company through a combination of a fresh issue of shares and an offer for sale by existing shareholders.