Kanohar Electricals IPO subscribed 2.70 times
The issue opened for bidding on 8 September 2026 and will close on 10 September 2026. The price band of the IPO is fixed between Rs 601 and 632 per share. An investor can bid for a minimum of 23 equity shares and multiples thereof.
The offer comprises fresh issue of equity shares of Rs 2 each aggregating to Rs 300 crore and an offer for sale of 11957915 equity shares. The offer for sale component consists entirely of sale by K Sons Family Trust, a promoter selling shareholder.
The company proposes to utilise Rs 64.18 crore from the net proceeds of the fresh issue towards capital expenditure requirements, including the purchase of plant and machinery for its Gangol plant to increase transformer manufacturing capacity, expand and automate backward integration facilities, and enhance operational efficiency. The funds will also be used for the construction of an office building at the Gangol plant and for sustainability initiatives, including setting up solar power plants at its facilities and purchasing electric vehicles for handling and movement activities at the Gangol plant.
Further, the company intends to utilise Rs 155 crore towards funding incremental working capital requirements, while the balance of the net proceeds will be utilised for general corporate purposes.
Ahead of the IPO, Kanohar Electricals on Monday, 7 September 2026, raised Rs 316.72 crore from anchor investors. The board allotted 50.11 lakh shares at Rs 632 each to 42 anchor investors.
Kanohar Electricals, promoted by Dinesh Singhal, a technocrat, is one of leading domestic manufacturer of transformers in the country catering to high growth industries such as power transmission, railways, renewable energy, and power distribution. Apart from manufacturing transformers, the company is also undertaking EPC projects in power T&D sector. Across its transformer manufacturing business and EPC business, it have successfully executed orders domestically in the states of Punjab, Rajasthan, Gujarat, Assam, Himachal Pradesh, Bihar, Maharashtra, Madhya Pradesh, Jharkhand, Karnataka, and overseas in Taiwan.
The transformer manufacturing business accounted for the majority of the company?s revenue from operations in FY26, contributing 83.43%, while the EPC business accounted for 16.44% and distribution transformers business contributed the remaining 0.13%. Of the FY26 revenue from operations, approximately 85.37% was generated from tenders awarded by government entities, comprising 46.92% from central government entities and 38.45% from state government entities.
As of 31 March 2026, the company had an order book of Rs 1,818.32 crore, with the transformer manufacturing business accounting for 89.19% of the total order book and the EPC business contributing the remaining 10.81%.
The firm reported a consolidated net profit of Rs 129.73 crore and sales of Rs 653.84 crore for the three months ended on 31 March 2026.
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