Kanohar Electricals IPO Fully Subscribed on Day 1

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Sep 08, 2026 19:33

Kanohar Electricals IPO fully subscribed 2.70 times on Day 1, raising Rs 317 crore from anchor investors. The Rs 1,056-crore share sale concludes Sep 10.

Key Points

Kanohar Electricals' Rs 1,056-crore IPO was fully subscribed 2.70 times on its first day.
The company raised Rs 317 crore from anchor investors before the public share sale.
The IPO includes a fresh issue of Rs 300 crore and an offer-for-sale of Rs 756 crore.
Proceeds will fund capital expenditure, working capital, and general corporate purposes.
Kanohar Electricals is a leading transformer manufacturer with EPC projects in power sectors.

New Delhi, Sep 8 (PTI) The initial public offering of transformer manufacturer Kanohar Electricals Ltd was subscribed 2.70 times on the first day of share sale.

The Rs 1,056-crore IPO received bids for 3,15,56,230 shares against 1,16,93,326 shares on offer, as per data available with the NSE.

The portion for non-institutional investors received 4.87 times subscription, while the retail portion was booked 3.29 times. The quota for Qualified Institutional Buyers (QIBs) garnered 3 per cent subscription.

Kanohar Electricals Ltd has raised Rs 317 crore from anchor investors.

The IPO will conclude on September 10. The price band has been fixed at Rs 601-632 per equity share.

The company's IPO comprises a fresh issue of shares worth up to Rs 300 crore and an offer-for-sale of up to 1.2 crore shares, valued at Rs 756 crore at the higher end of the price band, by promoter K Sons Family Trust.

The company plans to use Rs 64.1 crore from the fresh issue towards capital expenditure requirements, including purchasing machinery and equipment for its Gangol manufacturing facility, expanding and automating backward integration facilities, civil construction and interior development of an office building, and sustainability initiatives.

Another Rs 155 crore will be used to fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes.

Kanohar Electricals is one of the leading domestic transformer manufacturers, catering to sectors, including power transmission, railways, renewable energy and power distribution.

The company operates through two segments â transformer manufacturing and engineering, procurement and construction (EPC) projects.

Its EPC business includes turnkey projects for substations and transmission lines, as well as the installation of air-insulated and gas-insulated substations, bay augmentation and transmission lines.

Source: PTI By Rediff Money Desk, New Delhi

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