Kanohar Electricals Limited IPO — Subscription & GMP
- Price band
- ₹601 – ₹632
- Lot size
- 23
- Issue size
- ₹1,055.74 Cr
- Bidding
- 08 Sept 2026 → 10 Sept 2026
- Allotment
- —
- Listing
- 16 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 25.6 percentage points against the buyer — it implied +34.02% and the issue listed +8.47%. Counted in our running GMP accuracy record.
Schedule
- 08 Sept 2026IPO open date
- 10 Sept 2026IPO close date
- 11 Sept 2026Allotment date†
- 11 Sept 2026Funds unblock or debit†
- 16 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsKanohar Electricals Limited - Business Model Summary
Kanohar Electricals Limited operates as a manufacturer of specialized power equipment and an Engineering, Procurement, and Construction (EPC) service provider, catering primarily to energy infrastructure, power transmission, railways, renewable energy, and distribution sectors.
Core Segments & Revenue Streams
1. Transformer Manufacturing Segment: - Products: Produces a wide range of electrical transformers (including power and distribution transformers up to 400 kV class, Gas Insulated Switchgear (GIS), and specialized traction transformers like Scott connected transformers for railway electrification). - Backward Integration: Employs in-house technology and backward-integrated manufacturing facilities to maintain quality control, scale production, and build customized heavy electrical components.
2. EPC (Engineering, Procurement, and Construction) Segment: - Services: Undertakes turnkey infrastructure projects focusing on Gas Insulated Substations (GIS), air-insulated substations, and transmission lines. - Project Execution: Provides end-to-end execution capabilities from design and supply to installation and commissioning for utilities, power generation units, and the Indian Railways network.
Value Proposition The company leverages deep technical expertise, specialized short-circuit test certifications for high-capacity units (such as 500 MVA 400 kV transformers), and strategic technical collaborations to serve quality-conscious domestic and international markets across power and transportation sectors.
Official source: Basis of Issue Price / ratios filing (NSE) — carries P/E, RoNW and EPS pre and post issue as filed.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 776 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 33.41 L | 53.07 Cr | 158.84× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 9.30 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 31.48 Cr | — |
| 1(c)Mutual funds | — | 39.34 L | — |
| 2Non Institutional Investors | 25.06 L | 19.65 Cr | 78.42× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 16.70 L | 14.46 Cr | 86.58× |
| 2.1(c)Others | — | 56.60 L | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 8.35 L | 5.19 Cr | 62.09× |
| 2.2(a)Corporates | — | 1.74 L | — |
| 2.2(b)Individuals(Other than RIIs) | — | 4.99 Cr | — |
| 3Retail Individual Investors(RIIs) | 58.47 L | 8.59 Cr | 14.69× |
| 3(a)Cut Off | — | 7.55 Cr | — |
| 3(b)Price bids | — | 1.04 Cr | — |
| Total | 1.17 Cr | 81.31 Cr | 69.53× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹601 → ₹632 · peak 105.95 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
The allocation table for this issue could not be read reliably from the filing, so nothing is reproduced here.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹300.00 Cr 28.4%
- Offer for sale
- ₹755.74 Cr 71.6%
- Total issue size
- ₹1.06k Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 1.20 Cr shares rather than a rupee amount, so it is valued here at the cap price of ₹632 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹601 – ₹632
- Lot size
- 23 shares
- Min. bid quantity
- 23
- Face value
- ₹2.00
- Tick size
- ₹1.00
- Shares offered
- 1.17 Cr
- Issue size
- ₹1055.74 Cr
- Max bid · QIB
- 1.17 Cr
- Max bid · NII
- 83.52 L
Timeline & process
- Bidding opens
- 08 Sept 2026
- Bidding closes
- 10 Sept 2026
- Bidding hours
- 10.00 am to 5.00 pm
- UPI mandate cutoff
- 10th September 2026 (Upto 5.00 Pm)
- Allotment
- —
- Listing
- 16 Sept 2026
Intermediaries
- Registrar
- MUFG Intime India Private Limited
- Sponsor bank
- AXIS BANK
- Lead managers
- Nuvama Wealth Management Limited, IIFL Capital Services Limited