Karamtara Engineering IPO subscribed 1.27 times

The offer received bids for 3.21 crore shares as against 54.43 lakh shares on offer.

The initial public offer of Karamtara Engineering received bids for 3,21,71,992 shares as against 2,54,14,937 shares on offer, according to stock exchange data at 17:00 IST on 9 September 2026. The issue was subscribed 1.27 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 241 and 254 per share. An investor can bid for a minimum of 59 equity shares and multiples thereof.

The offer comprises fresh issue of equity shares of Rs 10 each aggregating to Rs 675 crore and an offer for sale of equity shares aggregating to Rs 200 crore by promoters [Rs 100 crore each by Tanveer Singh and Rajiv Singh].

Of the net proceeds from fresh issue, the company intends to use Rs 600 crore towards prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company; and balance towards general corporate purposes.

Karamtara Engineering, promoted by Tanveer Sing, Rajiv Sing and Inderjeet Singh, is the largest integrated manufacturer of solar mounting structures and tracker components in India in terms of installed capacity. The company manufactures solar module mounting structures, solar tracker piles and piers, solar torque tubes, transmission towers, wind turbine towers, fasteners, structural steel profiles and OHTL hardware fittings and accessories, making it a one-stop solution for solar structures. Solar energy products contributed 78.99% of FY26 revenue, while renewable products accounted for 82.12%. The company has a global presence, exporting to over 50 countries, with exports contributing 40.52% of FY26 revenue, including 34.48% from the US. It operates 13 manufacturing units across India and Italy, with aggregate installed capacity of 889,200 MTPA in India and in-house galvanizing capacity of 276,800 MTPA. The company is expanding its manufacturing capabilities through new facilities for structural steel profiles and solar stamping parts and plans to enter battery energy storage systems and prefabricated engineered building structures. It has also acquired a 26% stake in Clean Max Ame to develop wind and solar power projects for captive consumption.

Ahead of the IPO, Karamtara Engineering on Tuesday, 8 August 2026, raised Rs 262.49 crore from anchor investors. The board allotted 1.03 crore shares at Rs 254 each to 15 anchor investors.

The firm reported a consolidated net profit of Rs 228.76 crore and sales of Rs 4,311.98 crore for the twelve months ended on 31 March 2026.

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