Kanohar Electricals Lines Up Rs. 219 Cr IPO Ahead of Sept 8 Launch

New Delhi, Sept 5 (KNN) Kanohar Electricals Limited has fixed the price band for its maiden initial public offering (IPO) at Rs 601-632 per equity share of face value Rs 2.

The IPO will open for subscription on September 8 and close on September 10, 2026. Investors can bid for a minimum of 23 equity shares and in multiples of 23 thereafter.

The issue comprises a fresh issue of shares of up to Rs 300 crore and an offer-for-sale (OFS) of up to 11,957,915 shares by promoter K Sons Family Trust.

Rs 219.1 Crore Allocated For Capex, Working Capital
Of the fresh issue proceeds, Rs 64.1 crore will fund capital expenditure at the company’s Gangol manufacturing facility, including machinery and equipment to expand transformer capacity. 

The funds will also support automation, backward-integration facilities, operational efficiency, civil construction and office development, along with sustainability initiatives such as solar power plants and electric vehicles.

Another Rs 155 crore will be used for incremental working capital, with the balance allocated to general corporate purposes.

The IPO will be conducted through the book-building process, with up to 50 percent of the net offer reserved for QIBs, at least 15 percent for NIIs and at least 35 percent for retail investors.

Kanohar Electricals Focuses On Transformers, EPC
Kanohar Electricals is a domestic transformer manufacturer catering to sectors including power transmission, railways, renewable energy and power distribution.

As of March 31, 2026, the company was among five Indian companies holding short-circuit test certification for 500 MVA, 400 kV transformers used in power transmission, according to the CARE report cited by the company.

The company has also tested more than 200 transformer ratings and is among four manufacturers in India certified by the Research Designs and Standards Organisation (RDSO) to manufacture 100 MVA, 132 kV Scott transformers.

It is also among two Indian manufacturers certified to manufacture 100 MVA, 220 kV Scott transformers used for railway electrification.

The company operates through transformer manufacturing and engineering, procurement and construction (EPC) segments. 

Its EPC business covers turnkey projects for substations and transmission lines, including installation of air-insulated and gas-insulated substations and transmission lines across 132 kV, 220 kV and 400 kV.

Revenue Doubles Between FY24 And FY26
Kanohar Electricals has more than 40 years of experience in transformer manufacturing and produces five types of transformers with customised technical specifications to address the energy needs of industries to which we cater, which include power transmission, railways, renewable energy and power distribution. .

Revenue from operations increased to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24, while net profit rose to Rs 129.7 crore from Rs 17.7 crore during the same period.

Nuvama Wealth Management and IIFL Capital Services are the book-running lead managers, while MUFG Intime India is the registrar to the issue.

The equity shares are proposed to be listed on the NSE and BSE.

(KNN Bureau)