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Kanohar Electricals IPO
Price Band
₹601.0–632.0
Issue Size
₹1055.74 Cr
Lot Size
23 shares
Min Investment
₹14,536
GMP
+₹192.0 (30.38%)
Issue Price
₹632.0
Subject to Sauda
₹3400
Paid only if allotted
Kanohar Electricals IPO AI Summary
- Kanohar Electricals IPO is listed on BSE, NSE in the Heavy Electrical Equipment sector.
- Price band: ₹601.0–₹632.0 per share, lot size 23 shares (min. investment ₹14,536).
- Subscription window: 08 Sep–10 Sep 2026, listing on 16 Sep 2026.
- Current GMP is +₹192.0 (30.38%), an estimated listing price of ₹824 — unofficial and can change daily.
Kanohar Electricals is a well-established player in the heavy electrical equipment sector, focusing on transformer manufacturing and EPC services. With a strong financial performance and significant subscription interest, the IPO presents an opportunity for investors looking to engage in this industry.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Kanohar Electricals IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 10 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
90.59x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
215.37x
|
215x 🔥 |
| NII (HNI) |
87.74x
|
88x ✓ |
| ↳ bNII (>₹10L) |
94.04x
|
94x ✓ |
| ↳ sNII (<₹10L) |
75.14x
|
75x ✓ |
| Retail (RII) |
20.51x
|
21x ✓ |
| Total | 90.59x | 90.59x |
Auto-updated every 5 min · As of 10th Sep 2026 18:56
Kanohar Electricals IPO Grey Market Premium (GMP) Today
GMP
+₹192.0
GMP %
+30.38%
Est. Listing
₹824.0
Updated: 16 Sep 2026 06:15
GMP Trend (Last 13 Days)
About the Company
Incorporated in 1972, engaged in the manufacturing of power and distribution transformers. Operates through two business segments: Transformer Manufacturing and EPC Services. Serves industries including power transmission, power distribution, railways, renewable energy, and industrial infrastructure. Among the select Indian manufacturers certified by RDSO for manufacturing 100 MVA, 132 kV Scott Transformers for Indian Railways. Operates two manufacturing facilities located in Meerut, Uttar Pradesh. Aggregate transformer manufacturing capacity of 19,200 MVA as of September 30, 2025. Maintains a pan-India presence through five regional offices in Delhi, Mumbai, Kolkata, Bengaluru, and Chennai. Workforce of over 497 employees as of September 30, 2025. Serves a diversified customer base across multiple sectors throughout India. Over five decades of experience in the transformer and power infrastructure industry.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 613.93 | 432.07 | 322.86 |
| Total Income | 662.86 | 457.30 | 281.12 |
| Profit After Tax | 129.73 | 65.12 | 17.76 |
| EBITDA | 180.42 | 93.39 | 31.07 |
| NET Worth | 372.84 | 243.13 | 178.12 |
| Reserves and Surplus | 357.95 | 239.12 | 174.11 |
| Total Borrowing | 39.04 | 32.27 | 42.08 |
Key Ratios
EPS
₹17.43
NAV
₹32.66
ROE
30.92%
ROCE
47.61%
RoNW
26.78%
P/B Value
19.35
P/E Ratio
36.26
Market Cap
₹5004.61 Cr
PAT Margin
14.24%
Debt/Equity
0.13
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| GE Vernova T&D India | 42.87 | 45.85% | 89.37 | 48.16 | 48.16 |
| Transformers & Rectifiers (India) | 51.39 | 17.64% | 32.19 | 9.07 | 9.07 |
| CG Power and Industrial Solutions | 48.11 | 15.82% | 114.77 | 7.72 | 7.71 |
| Schneider Electric Infrastructure | 30.67 | 28.98% | 155.12 | 8.89 | 8.89 |
| Bharat Heavy Electricals | 74.99 | 6.13% | 91.3 | 4.6 | 4.6 |
| Hitachi Energy India | 1161.56 | 19.08% | 159.55 | 221.63 | 221.63 |
| Kanohar Electricals This IPO | 50.09 | 34.8% | — | 17.43 | 17.43 |
Promoters
Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal, Aditya Singhal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the capital expenditure requirements of Company 64.18 2 Funding the incremental working capital requirements of Company 155.00 3 General Corporate Purposes 55.50 4 Issue Expenses 65.25 Total 339.93
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹281.12 Cr in the year ending 31 Mar 2024, increasing to ₹457.30 Cr by 31 Mar 2025, and further rising to ₹662.86 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹17.76 Cr in the year ending 31 Mar 2024, growing to ₹65.12 Cr by 31 Mar 2025, and reaching ₹129.73 Cr by 31 Mar 2026.
Valuation
Kanohar Electricals has an EPS of ₹17.43, implying a P/E ratio of 36.26 at the issue price. This is priced at roughly 36.26 trailing earnings, compared to peers trading at a P/E range of 32.19 to 159.55.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium at which the shares may list on the stock exchange. A positive GMP suggests strong demand for the shares in the grey market, while a negative or low GMP may indicate weaker demand.
Subscription Demand
As of 10th Sep 2026, the IPO was subscribed 90.59 times overall. The institutional category saw the highest demand at 215.37 times, while the retail category was subscribed 20.51 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as the company's growth prospects and market conditions.
Who May Want to Wait
Investors who prefer stable and predictable returns, or those with a low risk tolerance, may want to avoid IPOs, as they can be subject to significant price fluctuations post-listing.
IPO Timeline, Explained
The IPO opens for subscription on 8th September 2026 and closes on 10th September 2026. Allotment of shares will be done on 11th September 2026, with the listing expected on 16th September 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a positive GMP may suggest potential listing gains, market conditions and investor sentiment on the day of listing can significantly affect the actual performance of the shares.
This evaluation is generated from Kanohar Electricals's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Kanohar Electricals IPO GMP today?
Kanohar Electricals IPO GMP today is +₹192.0 (30.38%), indicating an estimated listing price of ₹824. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Kanohar Electricals IPO?
The price band of Kanohar Electricals IPO is ₹601.0–₹632.0 per share.
When does Kanohar Electricals IPO open and close?
Kanohar Electricals IPO opens on 08 September 2026 and closes on 10 September 2026.
When does Kanohar Electricals IPO list on the stock exchange?
Kanohar Electricals IPO listed on 16 September 2026 at ₹824.0.
What is the lot size for Kanohar Electricals IPO?
The lot size for Kanohar Electricals IPO is 23 shares, requiring a minimum investment of ₹14,536.
What is the price band for the IPO?
The price band for the IPO is ₹601.0 to ₹632.0.
What is the minimum investment required?
The minimum investment required is ₹14,536.0.
What is the lot size for the IPO?
The lot size for the IPO is 23 shares.
When is the listing date?
The listing date is scheduled for 16th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which the shares may list.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
08 Sep 2026
Close
10 Sep 2026
Allotment
11 Sep 2026
Listing
16 Sep 2026
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