Kanohar Electricals IPO

About Kanohar Electricals IPO

The Kanohar Electricals IPO, a mainboard IPO, opens on Tuesday, September 8, 2026 and closes on Thursday, September 10, 2026. The allotment of shares will take place on Friday, September 11, 2026. The credit of shares to the demat account will take place on Tuesday, September 15, 2026. The initiation of refunds will take place on Tuesday, September 15, 2026. The listing of shares will take place on Wednesday, September 16, 2026.

The equity shares offered through the IPO are proposed to be listed on BSE and NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to 4,746,835 shares aggregating up to ₹300 crore. The offer for sale portion includes up to 11,957,915 shares aggregating up to ₹756 crore.

Kanohar Electricals IPO's price band is set at ₹601 to ₹632. The lot size for an application is 23 shares. The minimum amount of investment required by a retail investor is ₹14,536 (23 shares).

The company is a leading manufacturer of power transformers, traction transformers, Scott transformers, shunt reactors, and distribution transformers, and also undertakes EPC solutions for substations and transmission lines.

Objectives of Kanohar Electricals IPO

• Funding incremental working capital requirements
  
• General corporate purposes
  

Industry Outlook

The global and domestic transmission sectors are experiencing significant transformation and expansion driven by grid modernization, sustainability initiatives, and increasing renewable energy integration.

Demand for power and distribution transformers, extra-high voltage and ultra-high voltage segments, and specialised infrastructure such as high-speed rail electrification is projected to expand significantly between CY25 and CY30.

Government capital expenditure and policy support for railway electrification and power transmission infrastructure continue to create robust growth opportunities for domestic equipment manufacturers.

About Kanohar Electricals Limited

The Company has over 40 years of experience in transformer manufacturing and is among the leading domestic players in terms of revenue.

The Company operates two manufacturing facilities in Meerut, Uttar Pradesh, equipped with advanced backward integration capabilities for producing critical components such as transformer tanks and radiators.

Led by experienced promoters and management, the Company has established a strong track record of executing orders for large marquee clients across power transmission, railways, and renewable energy sectors.

Strengths of Kanohar Electricals

• Established player in the transformer manufacturing sector catering to high growth industries.
• Successful short circuit testing of transformers up to 500 MVA 400 kV enabling participation in large contracts.
• Comprehensive presence across Transformer Manufacturing Business and EPC Business serving a large addressable market.
• Integrated manufacturing facilities equipped to deliver high-quality products
• Track record of executing orders for large and marquee clients.
• Experienced promoters and management team with significant industry experience.
• Track record of profitability.

Risks of Kanohar Electricals

• Significant revenue concentration from the Transformer Manufacturing Business and potential reduction in demand.
• Dependence on high growth sectors such as power transmission, railways, and renewable energy subject to economic cyclicality.
• Under-utilization of manufacturing capacities and potential inability to effectively utilize capacities.
• Customer concentration risks with top 10 customers contributing a major share of revenue.
• Requirement of significant working capital and potential financing constraints.
• Dependence on state transmission companies and government-controlled entities subject to policy changes and tendering processes

Anchor Investor Bidding Date

Monday, September 7, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
MUFG Intime India Private Limited
E-mail: kanoharelectricals.ipo@in.mpms.mufg.com
Telephone: +91 810 811 4949

Book Running Lead Manager(s)
Nuvama Wealth Management
IIFL Capital Services Limited

Kanohar Electricals Contact Details
Rithani, Delhi Road, Meerut 250 103, Uttar Pradesh, India
Email: compliance@kanohar.com
Telephone: +91 121-3500801-05

Kanohar Electricals Business Model

The Company operates through two segments, namely Transformer Manufacturing Business and EPC Business, supplying customized transformer products and executing turnkey electrical infrastructure projects primarily for government and public sector undertakings.

Kanohar Electricals Growth Trajectory

Kanohar Electricals Limited's Total Income for FY26 was ₹662.86 crore, whereas in FY25 and FY24 it was ₹457.3 crore and ₹281.12 crore, respectively.

The Profit After Tax for FY26 was ₹129.73 crore, whereas in FY25 and FY24 it was ₹65.12 crore and ₹17.76 crore, respectively.

Their EBITDA for FY26 was ₹180.42 crore, whereas in FY25 and FY24 it was ₹93.39 crore and ₹31.07 crore, respectively.

Kanohar Electricals Market Position

Led by experienced promoters and management, the Company has established a strong track record of executing orders for large marquee clients across power transmission, railways, and renewable energy sectors.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹662.86 crore, ₹129.73 crore, and ₹180.42 crore, respectively.

How to apply for Kanohar Electricals IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.