Kanohar Electricals IPO: GMP Today, Price Band, IPO Dates, Lot Size, Allotment and Listing Details

8 Sep 2026 , 12:10 PM

Kanohar Electricals IPO opened for subscription today -September 8, 2026, and the ₹1,055.74 crore public issue will remain open for investors until September 10, 2026. The transformer manufacturer is looking to raise capital through a combination of a fresh issue and an offer for sale (OFS).

The price band  for Kanohar Electricals IPO has been fixed at ₹601 to ₹632 per share, for lot size of 23 shares. At the upper end of the price band, retail investors will need to invest a minimum of ₹14,536 for one lot. The shares are proposed to be listed on both the BSE and NSE, with the tentative listing date scheduled for September 16, 2026.

Kanohar Electricals IPO GMP Today

As of September 8, 2026, the Kanohar Electricals IPO GMP (Grey Market Premium) stands at around ₹196 per share, according to the latest market indications provided. At the upper IPO price of ₹632, a GMP of ₹196 implies an estimated listing price of approximately ₹828 per share, giving a potential premium of around 31.01% over the issue price.

However, GMP is an unofficial indicator and can change before listing. It should not be considered a guaranteed listing gain or an official price indication.

Kanohar Electricals IPO GMP Trend

Date	IPO Price	GMP	Estimated Listing Price	Estimated Premium
Sep 8, 2026	₹632	₹196	₹828	31.01%
Sep 7, 2026	₹632	₹196	₹828	31.01%
Sep 6, 2026	₹632	₹205	₹837	32.44%
Sep 5, 2026	₹632	₹190	₹822	30.06%
Sep 4, 2026	₹632	₹205	₹837	32.44%
Sep 3, 2026	₹632	₹200	₹832	31.65%

The GMP has remained positive in the days leading up to the IPO opening, although it has moved between ₹190 and ₹205 during the latest available period.

Kanohar Electricals IPO Details

Kanohar Electricals opens for a book-built IPO worth approximately ₹1,055.74 crore. The issue is combined of a fresh issue as well as an offer for sale by existing shareholders.

Particulars	Details
IPO Open Date	September 8, 2026
IPO Close Date	September 10, 2026
IPO Size	₹1,055.74 crore
Price Band	₹601–₹632 per share
Face Value	₹2 per share
Lot Size	23 shares
Minimum Retail Investment	₹14,536
Issue Type	Bookbuilding
Fresh Issue	47,46,835 shares
Fresh Issue Value	Up to ₹300 crore
Offer for Sale	1,19,57,915 shares
OFS Value	Up to ₹755.74 crore
Total Shares Offered	1,67,04,750 shares
Listing	BSE and NSE
Lead Manager	Nuvama Wealth Management Ltd.
Registrar	MUFG Intime India Pvt. Ltd.

Kanohar Electricals IPO Important Dates

Event	Date
IPO Opens	September 8, 2026
IPO Closes	September 10, 2026
Basis of Allotment	September 11, 2026
Refund Initiation	September 15, 2026
Credit of Shares	September 15, 2026
Listing Date	September 16, 2026

Kanohar Electricals IPO Lot Size and Minimum Investment

The Kanohar Electricals IPO lot size is 23 shares. With the upper price band set at ₹632 per share, one lot will cost retail investors:

23 × ₹632 = ₹14,536

Therefore, ₹14,536 is the minimum application amount for a retail investor applying for one lot at the upper end of the price band.

Investors can apply for additional lots, subject to the applicable category-wise investment limits and IPO rules.

Kanohar Electricals IPO: Fresh Issue and OFS Explained

The public issue comprises two components.

The company plans to issue 47.47 lakh fresh equity shares, aggregating up to ₹300 crore. The proceeds from the fresh issue will be received by Kanohar Electricals and will be used for the purposes specified in the IPO documents.

The IPO also consists of an offer for sale of approximately 1.20 crore shares, valued at up to ₹755.74 crore at the upper price band. Since OFS shares are sold by existing shareholders, the proceeds from this portion of the issue will go to the selling shareholders and not the company.

What Will Kanohar Electricals Do With IPO Proceeds?

Kanohar Electricals plans to use the IPO capital from the fresh issue for multiple corporate purposes. The largest allocation is towards incremental working capital requirements, for which the company proposes to utilise approximately ₹155 crore. Another ₹64.18 crore is marked for funding the company’s capital expenditure requirements.

The remaining amount will be used for general corporate purposes.

IPO Object	Estimated Amount
Capital expenditure	₹64.18 crore
Incremental working capital	₹155 crore
General corporate purposes	Balance amount
Total	₹219.18 crore

The amount shown above relates to the stated utilisation of the net IPO proceeds.

About Kanohar Electricals Limited

Established in 1972, Kanohar Electricals Limited is engaged in the manufacturing of transformers and related engineering solutions in India.

The company serves several sectors that rely on electrical transmission and distribution infrastructure, including power transmission, railways, renewable energy and power distribution.

Its operations are divided into two primary business segments:

• Transformer manufacturing
• Engineering, procurement and construction (EPC)

Kanohar Electricals has two manufacturing facilities located in Rithani and Gangol in Meerut, Uttar Pradesh.

As of March 31, 2026, the company’s combined transformer manufacturing capacity stood at approximately 19,200 MVA.

The company also has regional offices in Delhi, Mumbai, Kolkata, Bengaluru and Chennai and had a workforce of more than 526 employees.

Kanohar Electricals and Indian Railways

One of the company’s notable credentials is its certification from the Research Designs and Standards Organisation (RDSO), the research and development organisation associated with Indian Railways.

Kanohar Electricals is among four manufacturers in India certified by RDSO for manufacturing 100 MVA 132 kV Scott transformers.

This gives the company exposure to the railway segment alongside its broader presence in power transmission, distribution and renewable energy.

Kanohar Electricals Financial Performance

Kanohar Electricals reported strong growth in its financial performance between FY2025 and FY2026.

According to the restated financial figures provided, the company’s total income increased from ₹457.30 crore in FY2025 to ₹662.86 crore in FY2026.

Profit after tax nearly doubled during the same period, rising from ₹65.12 crore to ₹129.73 crore.

Kanohar Electricals Financials

Particulars	FY2026	FY2025	FY2024
Assets	₹613.93 Cr	₹432.07 Cr	₹322.86 Cr
Total Income	₹662.86 Cr	₹457.30 Cr	₹281.12 Cr
Profit After Tax	₹129.73 Cr	₹65.12 Cr	₹17.76 Cr
EBITDA	₹180.42 Cr	₹93.39 Cr	₹31.07 Cr
Net Worth	₹372.84 Cr	₹243.13 Cr	₹178.12 Cr
Total Borrowings	₹39.04 Cr	₹32.27 Cr	₹42.08 Cr

The company therefore recorded substantial improvement in both revenue and profitability in FY2026.

Kanohar Electricals IPO Valuation and Listing Expectations

At the upper price band of ₹632 per share, the IPO is attracting attention because of the company’s recent financial growth and the positive grey market premium.

Based on the latest GMP of ₹196, the implied estimated listing price is around ₹828 per share.

For one retail lot of 23 shares, this would translate into an indicative value of:

23 × ₹828 = ₹19,044

Against the application amount of ₹14,536, the difference would be approximately ₹4,508 per lot, assuming the GMP remains unchanged and the shares list at the implied price.

However, this is only a mathematical estimate based on the prevailing GMP. Actual listing prices can differ significantly.

Kanohar Electricals IPO: Key Things to Know

Before applying for the IPO, investors may want to consider the following factors:

Strong recent financial growth: Total income rose from ₹457.30 crore in FY2025 to ₹662.86 crore in FY2026, while PAT increased from ₹65.12 crore to ₹129.73 crore.

Exposure to infrastructure sectors: The company operates in transformer manufacturing and EPC, with exposure to power transmission, distribution, railways and renewable energy.

Manufacturing capacity: The company’s combined transformer manufacturing capacity stood at 19,200 MVA as of March 31, 2026.

Working capital requirement: A significant portion of the fresh issue proceeds is proposed to be used for incremental working capital.

Positive GMP: The latest reported GMP of ₹196 indicates an estimated premium of around 31% over the upper IPO price, although GMP is unofficial and subject to change.

Large OFS component: A substantial portion of the overall IPO consists of an offer for sale, meaning proceeds from the OFS will accrue to selling shareholders.

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