- Issue price
- ₹632per share
- Issue size
- ₹1,055.74 Cr1,67,04,750 shares
- Face value
- ₹2per equity share
- Lot size
- 23 sharesMin. ₹14,536 at the upper price
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesThu, 2026
- AllotmentFri, 2026
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 47,46,835 shares (₹300 Cr)
- Offer for sale
- 1,19,57,915 shares (₹755.74 Cr)
- Total issue
- 1,67,04,750 shares (₹1,055.74 Cr)
- Face value
- ₹2
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- NII15.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 58,46,663 | 35.00% | 35% |
| Non-institutional investors (NII) | 25,05,713 | 15.00% | 15% |
| Qualified institutional buyers (QIB) | 83,52,374 | 50.00% | — |
| QIB, excluding anchor | 33,40,950 | 20.00% | — |
| Anchor investors | 50,11,424 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹632 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 23 | ₹14,536 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Fiscal 2026, pre-issue- EPS (basic)
- ₹17.43
- EPS (diluted)
- ₹17.43
- P/E (Fiscal 2026 at Cap Price)
- 36.26×
- RoNW
- 34.80%
- NAV per share (At Offer Price)
- ₹84.97
- NAV per share (As at March 31, 2026)
- ₹50.09
- EBITDA margin
- 27.59%
- PAT margin
- 19.57%
- Debt to equity
- 0.10
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 653.84 | 450.61 | 276.69 |
| Total income | 662.86 | 457.30 | 281.12 |
| EBITDA | 180.42 | 93.39 | 31.07 |
| Profit after tax | 129.73 | 65.12 | 17.76 |
| Net worth | 372.84 | 243.13 | 178.12 |
| Reserves and surplus | 357.95 | 239.12 | 174.11 |
| Total assets | 613.93 | 432.07 | 322.86 |
| Total borrowing | 39.04 | 32.27 | 42.10 |
12 months vs 12 months: revenue +45.1%, profit after tax +99.2%.
Source: ProspectusUpdated
About the company
The company manufactures power and specialised transformers and also undertakes EPC work for substations and transmission lines in the power sector. It operates two manufacturing facilities in Meerut, Uttar Pradesh, and serves power transmission, railway, renewable energy and distribution customers.
- Incorporated
- 1972
- Industry
- Power Equipment Manufacturing
- CIN
- U31909UP1972PLC003635
- Website
- kanohar.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| K Sons Family Trust | 92.75% | — | 1,19,57,915 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for Gangol plant machinery, office building, solar power and electric vehicles | 64.18 |
| Funding incremental working capital requirements | 155.00 |
| General corporate purposes | 55.50 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Kanohar Electricals LimitedIssuer | ₹17.43 | 36.26× | 34.80% | ₹50.09 |
| Hitachi Energy India Limited | ₹221.63 | 159.55× | 19.08% | ₹1,161.56 |
| Bharat Heavy Electricals Limited | ₹4.6 | 91.30× | 6.13% | ₹74.99 |
| Schneider Electric Infrastructure Limited | ₹8.89 | 155.12× | 28.98% | ₹30.67 |
| CG Power and Industrial Solutions Limited | ₹7.72 | 114.77× | 15.82% | ₹48.11 |
| Transformers & Rectifiers (India) Limited | ₹9.07 | 32.19× | 17.64% | ₹51.39 |
| GE Vernova T&D India Limited | ₹48.16 | 89.37× | 45.85% | ₹42.87 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- One of the leading domestic transformer makers by revenue in Fiscal 2026, per the CARE Report.
- One of five Indian companies certified for short circuit testing of 500 MVA 400 kV transformers.
- Backward-integrated manufacturing of tanks and radiators supports quality control and cost.
- Revenue and EBITDA grew strongly from Fiscal 2024 to Fiscal 2026.
- Long-standing promoter experience in transformer manufacturing.
Risks
- A large share of revenue comes from the Transformer Manufacturing Business, so falling demand there would hurt results.
- Revenue depends heavily on power transmission, railways and renewable energy customers.
- Installed capacity utilisation at the Rithani unit was very low in recent years, and the Gangol unit was only about half utilised in Fiscal 2026.
- Top 10 customers contributed over 93% of revenue in each of the last three fiscals.
- The Offer includes an offer for sale of about 11.96 million shares by the promoter selling shareholder, and the company will receive no proceeds from it.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹632) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Kanohar Electricals IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 8 September 2026 and closes on Thursday, 10 September 2026.
What is the Kanohar Electricals IPO price band?
The final issue price is ₹632 per share.
What is the lot size of the Kanohar Electricals IPO?
One lot is 23 shares, which is ₹14,536 at ₹632 per share.
Where will Kanohar Electricals shares list?
On NSE and BSE. The tentative listing date is Wednesday, 16 September 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Kanohar Electricals IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 11 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹64.18 Cr for capital expenditure for Gangol plant machinery, office building, solar power and electric vehicles, ₹155 Cr for funding incremental working capital requirements, ₹55.5 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.