10 Sep 2026 , 04:20 PM
The Kaohar Electricals IPO closed on a strong note, with the issue receiving an overwhelming response from investors across all three major categories.
By the end of bidding on September 10, 2026, the IPO was subscribed a massive 90.11 times. The Qualified Institutional Buyers (QIB) portion saw the highest demand at 215.37 times, while the NII category was subscribed 87.53 times.
The grey market was equally upbeat. Kaohar Electricals IPO GMP rose to ₹225 on September 10 from ₹223 a day earlier. With the IPO price fixed at ₹632 per share, the latest GMP indicates an estimated listing price of ₹857.
That points to a potential listing premium of 35.60% over the issue price, if the current GMP holds.
Kaohar Electricals IPO GMP stood at ₹225 at the close on September 10, according to the latest figures provided.
The premium has remained elevated throughout the bidding period, although it has moved up and down from session to session.
GMP was ₹200 on September 3 and rose to ₹205 on September 4. It then slipped to ₹190 on September 5 before recovering to ₹205 on September 6.
The premium dropped to ₹196 on September 7, but the decline did not last long. GMP moved to ₹218 on September 8, ₹223 on September 9 and finally ₹225 on September 10.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Gain |
|---|---|---|---|---|
| 10 Sep 2026 | ₹632 | ₹225 | ₹857 | 35.60% |
| 9 Sep 2026 | ₹632 | ₹223 | ₹855 | 35.28% |
| 8 Sep 2026 | ₹632 | ₹218 | ₹850 | 34.49% |
| 7 Sep 2026 | ₹632 | ₹196 | ₹828 | 31.01% |
| 6 Sep 2026 | ₹632 | ₹205 | ₹837 | 32.44% |
| 5 Sep 2026 | ₹632 | ₹190 | ₹822 | 30.06% |
| 4 Sep 2026 | ₹632 | ₹205 | ₹837 | 32.44% |
| 3 Sep 2026 | ₹632 | ₹200 | ₹832 | 31.65% |
The latest GMP of ₹225 is also the highest recorded in the supplied trend.
The subscription numbers are the standout feature of the Kaohar Electricals IPO.
The issue received bids for 1,16,93,326 shares, taking the overall subscription to 90.11 times.
QIB investors led the charge, with their portion subscribed 215.37 times. The NII category followed at 87.53 times, while retail investors subscribed 19.64 times.
| Investor Category | Subscription |
|---|---|
| QIB | 215.37x |
| NII | 87.53x |
| S-NII | 74.51x |
| B-NII | 94.04x |
| Retail | 19.64x |
| Overall | 90.11x |
The difference between institutional and retail participation is significant. While retail demand was strong at nearly 20 times, QIB interest was more than 200 times the shares reserved for the category.
The QIB category recorded the strongest subscription in the Kaohar Electricals IPO.
At 215.37x, bids from qualified institutional buyers far exceeded the shares available under the category. QIB investors placed bids for 33,40,950 shares.
The NII segment was also heavily oversubscribed at 87.53x.
Within NII, the B-NII category recorded subscription of 94.04 times, compared with 74.51 times for S-NII investors.
These are exceptionally high subscription levels and underline the intensity of demand for the issue.
Retail participation was lower than the institutional categories but remained extremely strong.
The retail portion was subscribed 19.64 times, with bids received for 58,46,663 shares.
In practical terms, the retail category received bids for nearly 20 times the shares available to individual investors.
With the overall issue subscribed 90.11 times, the final allotment process is likely to be closely watched by applicants.
The grey market premium has strengthened toward the end of the IPO bidding period.
After starting at ₹200 on September 3, GMP moved to ₹205 before slipping to ₹190 on September 5. It subsequently recovered and accelerated during the final few sessions.
The premium rose from ₹196 on September 7 to ₹218 on September 8 and ₹223 on September 9. It has now reached ₹225.
Based on the latest GMP, the estimated listing price stands at ₹857.
That is ₹225 above the ₹632 issue price.
The estimated profit shown in the supplied data is ₹5,175 per lot at the current GMP.
As always, this is only an indicative calculation. GMP is unofficial and can change before listing.
At the latest GMP of ₹225, the estimated listing price can be calculated as follows:
IPO price: ₹632
Current GMP: ₹225
Estimated listing price: ₹857
The implied premium works out to 35.60%.
If the GMP remains unchanged until listing, the shares could potentially list around ₹857 based on the grey-market indication.
But that is not a prediction or guarantee. Actual listing prices are determined by market demand and trading conditions once the stock begins trading.
The subscription figures are strong across every investor segment.
QIBs have subscribed 215.37 times, NII investors 87.53 times and retail investors 19.64 times.
There is also strong participation within the NII category itself. S-NII subscription stands at 74.51x, while B-NII subscription has reached 94.04x.
The overall subscription of 90.11x means the demand far exceeds the shares offered in the issue.
The final allotment will therefore be an important event for investors who applied for the IPO.
Both the grey market and subscription figures are pointing towards strong investor interest, although they measure different things.
The GMP has risen to ₹225, indicating an estimated listing premium of 35.60%.
At the same time, the IPO has closed with subscription of 90.11 times.
The subscription figure reflects actual bids received during the IPO, whereas GMP represents unofficial grey-market sentiment. Investors should therefore consider them separately rather than assuming a high GMP will automatically translate into a similar listing gain.
Disclaimer – The stock/s and indices mentioned in this article are discussed solely for informational and educational purposes. It should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult a financial advisor before making any investment decisions. Investments in securities markets are subject to market risks. Read all the related documents carefully before investing.
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