Karamtara Engineering IPO
Bookbuilding IPO | ₹875.00 Cr | Listing at BSE, NSE
Open
IPO Open
Wed, Sep 09, 2026
IPO Close
Fri, Sep 11, 2026
Price Band
₹241.00 to ₹254.00
Market Cap (Pre-IPO)
₹8,174.30 Cr
IPO Details
| IPO Date | Sep 09, 2026 to Sep 11, 2026 |
| Listing Date | Tentative: Sep 17, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹241.00 to ₹254.00 |
| Lot Size | 59 Shares (Minimum: ₹14,986.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹875.00 Crores |
| Total Shares Offered | 34,448,817 shares |
| Fresh Issue | 26,574,803 shares |
| Offer For Sale | 7,874,014 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.26x |
| NII | 1.58x |
| RII | 0.86x |
| Total | 1.13x |
Karamtara Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 50.00 |
| Retail Shares Offered | 35.00 |
| NII Shares Offered | 15.00 |
Karamtara Engineering IPO Lot Size
Investors can bid for a minimum of 59 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,986 |
| Retail (Max) | 13 | 767 | ₹194,818 |
| S-HNI (Min) | 14 | 826 | ₹209,804 |
| S-HNI (Max) | 66 | 3,894 | ₹3,894 |
| B-HNI (Min) | 67 | 3,953 | ₹1,004,062 |
Karamtara Engineering Financial Information (Restated Consolidated)
Karamtara Engineering Ltd.'s revenue increased by 36% and profit after tax (PAT) rose by 64% 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 | 4,142.24 | 2,762.59 | 1,844.56 |
| Total Income | 4,316.36 | 3,165.36 | 2,427.12 |
| Profit After Tax | 228.75 | 139.33 | 102.65 |
| EBITDA | 498.11 | 346.83 | 262.93 |
| NET Worth | 1,219.40 | 982.67 | 552.92 |
| Reserves and Surplus | 926.55 | 690.53 | 547.46 |
| Total Borrowing | 1,030.13 | 556.28 | 547.46 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 20.77% |
| ROCE (Return on Capital Employed) | 23.27% |
| Debt/Equity | 0.84 |
| RoNW (Return on Net Worth) | 20.78% |
| EBITDA Margin | 11.55% |
| Price to Book Value | 6.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.75 | 7.11 |
| Promoter Holding | 32.77% | 35.72% |
Company Overview
Karamtara Engineering Limited – Company Overview
- Karamtara Engineering Limited was incorporated in 1996 and is engaged in manufacturing products for the renewable energy and power transmission sectors.
- The company offers a diverse product portfolio and operates as a one-stop solution provider for solar structures, solar and transmission fasteners, and overhead transmission line hardware fittings.
- Its key product segments include:
- Solar Energy: Manufactures solar mounting products, including fixed-tilt structures and tracker components for various types of solar projects.
- Lattice Towers: Manufactures lattice towers for power transmission lines with capabilities of up to 1,200 kV. As of September 30, 2024, the company had supplied over 0.5 million MT of towers globally.
- Fasteners: Manufactures bolts, nuts, studs, washers, and customised fasteners for solar, wind, transmission, automobile, and telecom industries.
- The company is expanding into the wind energy sector by setting up a manufacturing facility for tubular towers for wind turbines, with operations expected to commence in the first quarter of Fiscal 2026.
- As of March 31, 2026, the company had a global presence across 50+ countries in North America, Europe, Asia, Africa, Australia, and Latin America.
- The company focuses on backward integration through in-house galvanizing facilities and rolling mill furnaces, supporting supply-chain efficiency, shorter turnaround times, and cost competitiveness.
- Its galvanizing capacity stands at approximately 258,000 MTPA, stated to be the largest in India's solar energy sector.
- The company served 48, 73, and 65 solar-product customers during Fiscal 2024, Fiscal 2025, and Fiscal 2026, respectively.
- As of March 31, 2024, the company had 1,015 permanent employees.
Company Strengths
- Largest integrated manufacturer in India for solar mounting structures and tracker components
- Diverse product offerings acting as a one-stop shop for solar structures (fixed-tilt and trackers).
- Extensive global footprint with a track record of exports to over 50 countries
- Established relationships with global customers and high customer retention
- Strategic network of manufacturing facilities with advanced capabilities
- Experienced Promoter Directors supported by a skilled management team
Use of Proceeds
| 1) | Funding prepayment, repayment and/ or payment obligations to lenders towards borrowings and Acceptances, in part or full | 600.00 |
| 2) | General corporate purposes | |
| Total | 600.00 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Karamtara Engineering IPO Peer Comparison
Karamtara Engineering peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Karamtara Engineering | 7.83 | 7.83 | 41.72 | - | 20.78 | - | - |
| Inox Wind | 2.65 | 2.65 | 36.93 | 27.08 | 8.32 | 1.97 | - |
| Waaree Energies | 129.10 | 128.84 | 501.90 | 20.48 | 32.48 | 5.27 | - |
| KP Green Engineering | 27.15 | 27.15 | 91.52 | 9.65 | 32.32 | 2.88 | - |
| Suzlon Energy | 2.31 | 2.31 | 6.90 | 20.25 | 40.64 | 7.67 | - |
| Premier Energies | 33.63 | 33.63 | 95.09 | 30.15 | 42.35 | 10.67 | - |
| Vikram Solar | 13.68 | 13.60 | 87.43 | 12.70 | 21.34 | 1.98 | - |
| Saatvik Green Energy | 29.83 | 29.76 | 107.08 | 14.23 | 41.97 | 3.95 | - |
| Emmvee Photovoltaic Power | 17.17 | 17.17 | 53.37 | 18.87 | 51.12 | 6.09 | - |
Quick Info
| Sector | Power Infrastructure & Renewable Energy Equipment Manufacturing |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹8,174.30 Cr |
Important Dates
| IPO Open | Sep 09, 2026 |
| IPO Close | Sep 11, 2026 |
| Allotment Date | Sep 15, 2026 |
| Credit to Demat | Sep 16, 2026 |
| Listing Date | Tentative: Sep 17, 2026 |
Lead Manager(s)
JM Financial Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹875.00 crores.
- Issue Structure: The issue is a combination of a fresh issue of 2.66 crore shares aggregating to ₹675.00 crores and an offer for sale of 78.74 lakh shares aggregating to ₹200.00 crores.
- IPO Dates: The issue opens for subscription on September 9, 2026 and closes on September 11, 2026.
- Allotment Date: The allotment is expected to be finalized on September 15, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 17, 2026.
- Retail Investment Requirement: Minimum 1 lot (59 shares) amounting to approximately ₹14,986 at the upper price band.
- Issue Price Band: ₹241 to ₹254 per equity share.
- Lot Size: 59 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.