Kanohar Electricals Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹601–632
- Lot size
- 23 shares
- Issue amount
- ₹1,055.74 cr
- Total subscription
- 90.59×
- Opens
- 8 Sept 2026
- Closes
- 10 Sept 2026
- Allotment
- 11 Sept 2026
- Listing
- 16 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 1,67,04,750 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹13,823
- Fresh issue
- ₹300 cr
- Offer for sale
- ₹755.74 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,536
- Issue type
- Bookbuilding IPO
- Shares before issue
- 7,44,40,000
- Shares after issue
- 7,91,86,835
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 23 | ₹14,536 |
| sHNI | 14 | 322 | ₹2,03,504 |
| bHNI | 69 | 1,587 | ₹10,02,984 |
Share reservation
Subscription & GMP
Subscription by category
Reported 10 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 2,54,203 | 46,12,086 |
| HNIs(10L +) | 5,188 | 98,007 |
| HNIs (2-10L) | 2,594 | 1,89,312 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 211.15 | 45,474.9 |
| RETAIL | 369.51 | 7,577.65 |
| NIB | 158.36 | 13,894.51 |
| HNIs 2+ | 52.79 | 3,966.63 |
| HNIs 10+ | 105.57 | 9,927.88 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 17.43 | 8.75 | 2.39 |
| ROE | 42.12 | 30.92 | 10.49 |
| ROCE | 70.13 | 47.61 | 16.69 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 36.26 | 0 | 0 |
| POST IPO(PE) | 38.58 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Kanohar Electricals Limited | 36.26 | 632 | 2 | 50.09 | 34.80 | 17.43 |
| Hitachi Energy India Limited | 159.55 | 35,360.00 | 2 | 1,161.56 | 19.08 | 221.63 |
| Bharat Heavy Electricals Limited | 91.3 | 420 | 2 | 74.99 | 6.13 | 4.6 |
| Schneider Electric Infrastructure Limited | 155.12 | 1,379.00 | 2 | 30.67 | 28.98 | 8.89 |
| CG Power and Industrial Solutions Limited | 114.77 | 886 | 2 | 48.11 | 15.82 | 7.72 |
| Transformers & Rectifiers (India) Limited | 32.19 | 292 | 1 | 51.39 | 17.64 | 9.07 |
| GE Vernova T&D India Limited | 89.37 | 4,304.00 | 2 | 42.87 | 45.85 | 48.16 |
Company information
Company profile
Kanohar Electricals Limited, established in 1972, is a transformer manufacturing company serving sectors like power transmission, railways, renewable energy, and power distribution. The company operates through two main segments—transformer manufacturing and EPC services—and is among the few manufacturers in India certified by RDSO for producing high-capacity 100 MVA 132 kV Scott transformers. It runs two manufacturing units in Meerut with a combined capacity of 19,200 MVA and has a strong presence across India through regional offices in major cities. With a workforce of around 500 employees, the company caters to a wide range of clients nationwide, supporting infrastructure and energy development.
Strengths
- Established Transformer Manufacturer: With over 40 years of experience, the company is one of India’s leading transformer manufacturers. It serves growing sectors such as power transmission, railways, renewable energy and power distribution.
- Capability to Manufacture High-Value Transformers: The company has successfully completed short-circuit testing for transformers up to 500 MVA and 400 kV at reputed laboratories such as CPRI and NHPTL, demonstrating its ability to manufacture reliable, high-capacity transformers.
- Integrated Transformer & EPC Business: The company operates in both transformer manufacturing and EPC services, offering complete solutions. Its EPC capabilities include substations and transmission lines up to 400 kV, helping it serve a wider power infrastructure market.
Risk factors
- Dependence on Transformer Manufacturing: A significant part of the company’s revenue comes from transformer manufacturing. Any decline in demand for transformers could negatively affect its business and financial performance.
- Dependence on Government Policies & Transmission Utilities: The company depends heavily on orders from power transmission utilities, including state-owned companies. Changes in government policies or a slowdown in the power sector could affect demand and business performance.
- Dependence on Government Tenders: A significant portion of revenue comes from government tenders. The company may face challenges in qualifying, winning bids or maintaining the required eligibility, which could affect future revenue and growth.
Promoters
Dinesh Singhal
Adesh Singhal
Vivek Singhal
Abhishek Singhal
Virat Singhal
Aditya Singhal
Registrar & documents
Lead manager
IIFL Capital Services Limited, Nuvama Wealth Management Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Rithani, Delhi Road, Meerut, Uttar Pradesh, 250103|
121-3500801-05
[email protected]Company website ↗Understanding KANOHAR IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.