Kanohar Electricals IPO investors have received allotment updates following the ₹1,055.74 crore public issue's exceptional investor response. The company's stock is tentatively scheduled to list on both BSE and NSE on September 16, 2026, following the conclusion of the subscription period. The IPO opened for subscription on September 8 and closed on September 10, with investors able to check their allotment status through multiple platforms including MUFG Intime India, NSE, and BSE websites. As per latest reports, allotment basis is expected to be finalised on September 11, 2026, evening.
Kanohar Electricals achieved exceptional investor response with 90.59 times subscription as of 17:00 IST on September 10, according to latest BSE data. The offer received bids for 105.92 crore shares against 1.17 crore shares on offer. The subscription pattern showed remarkable strength across all categories, with QIBs leading at 215.37 times, NIIs at 87.74 times, and retail investors at 20.50 times. This represents a significant improvement from earlier reported subscription levels, demonstrating sustained and growing investor confidence in the transformer manufacturer's prospects.
The ₹1,056 crore IPO comprises a fresh issue of ₹300 crore and an offer for sale of ₹756 crore. According to the latest reports, ₹64.18 crore from the fresh issue will be allocated towards capital expenditure requirements, including purchasing plant and machinery for the Gangol manufacturing facility to increase transformer manufacturing capacity, expanding and automating backward integration facilities, and enhancing operational efficiency. An additional ₹155 crore will fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes. The offer for sale component consists entirely of sale by K Sons Family Trust, a promoter selling shareholder. The company successfully raised ₹316.72 crore from anchor investors, demonstrating strong institutional confidence in the expansion plans.
Kanohar Electricals has demonstrated impressive financial performance with the transformer manufacturing business accounting for 83.43% of FY26 revenue, while the EPC business contributed 16.44% and distribution transformers business 0.13%. The company reported a consolidated net profit of ₹129.73 crore and sales of ₹653.84 crore for the three months ended March 31, 2026. As of March 31, 2026, the company's order book reached ₹1,818.32 crore, with the transformer manufacturing business accounting for 89.19% of the total order book and EPC business contributing 10.81%. Approximately 85.37% of FY26 revenue was generated from tenders awarded by government entities, comprising 46.92% from central government entities and 38.45% from state government entities.
The grey market premium (GMP) for Kanohar Electricals IPO stood at ₹232 as of September 12, 2026, at 6:00 AM, according to latest market data. With the IPO's upper price band fixed at ₹632 per share, the estimated listing price is ₹864, indicating an expected gain of 36.71% per share. GMP figures are unofficial and reflect activity in the unregulated grey market, which may fluctuate before the stock's listing and should not be considered a guarantee of actual listing price or returns. The anchor investor book attracted 42 financial institutions from India and overseas, with the company allotting 50,11,424 shares at ₹632 per share. Notable participants included Ashoka Whiteoak ICAV – Ashoka Whiteoak Emerging Markets Equity Fund, Allianz Global Investors Fund – Allianz India Equity, HSBC Global Investment Funds – Asia Ex Japan Equity Smaller Companies, VQ FasterCap Fund, and HDFC Life Insurance Company.
