Kanohar Electricals IPO To Open On 8 September With ₹1,056 Crore Issue; Fresh Issue At ₹300 Crore
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Kanohar Electricals will open its IPO on 8 September 2026 to raise ₹1,055.7 crore. The price band is set at ₹601-632 per share. The issue comprises both a fresh issue and an OFS.
Kanohar Electricals is set to launch its initial public offering (IPO) on 8 September 2026. It will be the third company to open its public issue that day alongside Prasol Chemicals and Glass Wall Systems.
The Kanohar Electricals IPO will value the company at ₹5,004.6 crore at the upper end of the price band. The fresh issue will raise up to ₹300 crore, while promoter entity K Sons Family Trust will sell 1.19 crore shares through the offer for sale (OFS) component.
Kanohar Electricals IPO Details
IPO size | ₹1,055.7 crore |
Price band | ₹601-632 per share |
Fresh issue | Up to ₹300 crore |
OFS | 1.19 crore shares worth ₹755.7 crore |
IPO date | 8 to 10 September 2026 |
Anchor book | 7 September 2026 |
Lot size | 23 shares |
Minimum investment | ₹14,536 |
Maximum retail investment | ₹1,88,968 |
Expected allotment | 11 September 2026 |
Expected listing | 16 September 2026 |
Merchant bankers | Nuvama Wealth Management and IIFL Capital Services |
Utilisation Of Kanohar Electricals IPO Funds
Of the IPO’s net proceeds from the fresh issue, ₹64.1 crore will be used for machinery and equipment, civil construction and interior work at the Gangol manufacturing facility, solar power plants at manufacturing facilities, and electric trucks and forklifts.
Another ₹155 crore is earmarked for incremental working capital, while the balance will be used for general corporate purposes.
The company currently operates two manufacturing facilities at Rithani and Gangol in Uttar Pradesh. Together, these facilities have a transformer manufacturing capacity of 19,200 megavolt-amperes (MVA). The company's order book stood at ₹1,818.3 crore as of March 2026.
Transformer Manufacturing Remains The Core Business
For Kanohar Electricals, 83% of its FY26 topline was generated from transformer manufacturing. Engineering, procurement and construction (EPC) projects contributed 16%.
The company also undertakes EPC work in the power transmission and distribution sector, including turnkey projects for substations and transmission lines.
For the fiscal year ended March 2026, revenue increased 45.1% to ₹653.8 crore from ₹450.6 crore a year earlier. Profit nearly doubled to ₹129.7 crore from ₹65 crore.
The company, promoted by IIT alumnus Dinesh Singhal, operates in a market that includes listed players such as Hitachi Energy India, Bharat Heavy Electricals, Schneider Electric Infrastructure, CG Power and Industrial Solutions, Transformers & Rectifiers (India), and GE Vernova T&D India.
Also Read - NSE IPO Gets Major Boost As Supreme Court Dismisses SEBI Appeals In Co-Location Case
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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