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Kanohar Electricals Limited IPO
Transformers Manufacturing · Power Transmission · Railways & Renewable Energy · EPC
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹632
Upper Price
₹1,055.74 Cr
Issue Size
Sep 16, 2026
Listing Date
₹4,704.61 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Tuesday, 8 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 10 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Friday, 11 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 15 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 16 September 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date8 September 2026 (Tue)
IPO Close Date10 September 2026 (Thu)
Listing Date16 September 2026 (Wed)
Face Value₹2 per share
Price Band₹601 to ₹632
Issue Price (Upper Band)₹632 per share
Issue TypeBook Build — Fresh + OFS
Lot Size23 shares
Total Issue Size1,67,04,750 shares (₹1,055.74 Cr)
Fresh Issue47,46,835 shares (₹300.00 Cr)
Offer for Sale (OFS)1,19,57,915 shares (₹755.74 Cr)
Pre-Issue Shares7,44,40,000
Post-Issue Shares7,91,86,835
Promoter Holding (Pre)99.72%
Market Cap (Pre-IPO)₹4,704.61 Cr
Listing ExchangeNSE, BSE
Lead ManagerNuvama Wealth Management Ltd., IIFL Capital Services Ltd.
RegistrarMUFG Intime India Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹632| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 23 | ₹14,536 |
| Retail — Maximum | 13 | 299 | ₹1,88,968 |
| S-HNI (sNII) — Min | 14 | 322 | ₹2,03,504 |
| S-HNI (sNII) — Max | 68 | 1,564 | ₹9,88,448 |
| B-HNI (bNII) — Min | 69 | 1,587 | ₹10,02,984 |
⚠️ Note: Investors can bid for a minimum of 23 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Standalone · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 613.93 | 432.07 | 322.86 |
| Total Income | 662.86 | 457.30 | 281.12 |
| PAT | 129.73 | 65.12 | 17.76 |
| EBITDA | 180.42 | 93.39 | 31.07 |
| Net Worth | 372.84 | 243.13 | 178.12 |
| Reserves & Surplus | 357.95 | 239.12 | 174.11 |
| Total Borrowing | 39.04 | 32.27 | 42.08 |
Income Growth
FY 2023–24₹281.12 Cr
FY 2024–25₹457.30 Cr
FY 2025–26₹662.86 Cr
🎯 Key Performance Indicators
42.12%
ROE
FY 2025–26
0.10
Debt/Equity
FY 2025–26
70.13%
ROCE
FY 2025–26
19.57%
PAT Margin
FY 2025–26
27.59%
EBITDA Margin
FY 2025–26
34.80%
RoNW
FY 2025–26
12.62x
Price/Book
FY 2025–26
50.09
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹17.43
FY26 earnings + pre-issue shares
P/E: 36.26xPost-IPO EPS
₹16.38
FY26 earnings + post-issue shares
P/E: 38.58xPrice to Book Value
12.62x
At upper price band ₹632
Market Cap (Pre-IPO)
₹4,704.61 Cr
At issue price ₹632
ℹ️
Pre-IPO EPS (₹17.43) based on pre-issue shares (7,44,40,000) and FY26 earnings (₹129.73 Cr). Post-IPO EPS (₹16.38) accounts for the dilution resulting from the issuance of 47,46,835 fresh equity shares extending the total post-issue equity to 7,91,86,835 shares. Post-IPO Market Cap expands to ₹5,004.61 Cr at the issue price of ₹632.
🎯 Objects of the Issue
Net proceeds utilisation1
Funding the capital expenditure requirements of Company
₹64.18 Cr
2
Funding the incremental working capital requirements of Company
₹155.00 Cr
3
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹300.00 Cr
🏢 About Kanohar Electricals Ltd.
Est. 1972 · Meerut, Uttar Pradesh · Transformers Manufacturing & EPCKanohar Electricals Limited, incorporated in 1972, is a pioneer in the manufacturing of heavy-duty industrial and transmission transformers in India. The company delivers solutions catering to core infrastructure verticals including power transmission, Indian Railways, renewable energy, and state power distribution utilities.
The business operates across two principal verticals: Transformer Manufacturing and Engineering, Procurement, and Construction (EPC). Notably, it is one of only four elite manufacturers in India certified by the Research Designs and Standards Organisation (RDSO), the R&D arm of Indian Railways, to build 100 MVA 132 kV Scott transformers. The company runs two massive manufacturing facilities in Meerut, Uttar Pradesh (Rithani and Gangol) commanding an aggregate transformer manufacturing capacity of 19,200 MVA as of March 31, 2026, supported by 5 regional offices (Delhi, Mumbai, Kolkata, Bengaluru, Chennai) and a dedicated team of over 526 employees.
Brand Ecosystem
⚡
Transformer Manufacturing
High-capacity power and distribution transformers serving utilities and renewable grids
🚆
RDSO-Certified Scott Units
One of four manufacturers certified by Indian Railways for 100 MVA 132 kV Scott transformers
🏭
Dual Manufacturing Hubs
Facilities at Rithani and Gangol in Meerut commanding 19,200 MVA combined annual capacity
🏗️
Turnkey EPC Operations
Substation commissioning and power infrastructure execution backed by 5 regional offices
Competitive Strengths
🏆Over 50 years of manufacturing lineage establishing top-tier technical credibility across Indian power infrastructure
🛡️High barriers to entry with RDSO railway certifications and approval from major central and state transmission bodies
🔌Large production scale with 19,200 MVA aggregate capacity servicing grid transmission and high-growth green energy
📈Superb financial performance highlighted by a 99% PAT surge to ₹129.73 Cr and a 70.13% ROCE in FY26
Company Promoters
DS
Dinesh Singhal, Adesh Singhal & Vivek Singhal
Promoters, Kanohar Electricals Ltd.
AS
Abhishek Singhal, Virat Singhal & Aditya Singhal
Promoters, Kanohar Electricals Ltd.
📅 Key Dates
IPO Opens08 Sep 2026
IPO Closes10 Sep 2026
Allotment11 Sep 2026
Refund & Share Credit15 Sep 2026
Listing Day16 Sep 2026
💡 Quick Summary
Price Band₹601 – ₹632
Upper Price₹632 / share
Lot Size23 shares
Min. Investment (Retail)₹14,536
Issue Size₹1,055.74 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
Nuvama Wealth Management Ltd., IIFL Capital Services Ltd.
📍 Registered Address
Kanohar Electricals Ltd.
Rithani, Delhi Road,
Meerut, Uttar Pradesh — 250103
📞 121-3500801-05
[email protected]
Rithani, Delhi Road,
Meerut, Uttar Pradesh — 250103
📞 121-3500801-05
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
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Disclaimer: This page presents publicly available information from the Kanohar Electricals IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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