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Karamtara Engineering IPO
Price Band
₹241.0–254.0
Issue Size
₹875.0 Cr
Lot Size
59 shares
Min Investment
₹14,986
GMP
+₹48.0 (18.9%)
Issue Price
₹254.0
Subject to Sauda
₹2200
Paid only if allotted
Karamtara Engineering IPO AI Summary
- Karamtara Engineering IPO is listed on BSE, NSE in the Power Generation sector.
- Price band: ₹241.0–₹254.0 per share, lot size 59 shares (min. investment ₹14,986).
- Subscription window: 09 Sep–11 Sep 2026, listing on 17 Sep 2026.
- Current GMP is +₹48.0 (18.9%), an estimated listing price of ₹302 — unofficial and can change daily.
Karamtara Engineering Limited is a prominent player in the renewable energy sector, with a diverse product portfolio and a strong global presence. The company is set to enter the wind energy market and has shown consistent growth in revenue and profitability. With a robust subscription response to its IPO, investors may find the offering appealing, though they should consider their risk profile and investment strategy.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Karamtara Engineering IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 11 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
66.01x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
168.19x
|
168x 🔥 |
| NII (HNI) |
51.17x
|
51x ✓ |
| ↳ bNII (>₹10L) |
53.83x
|
54x ✓ |
| ↳ sNII (<₹10L) |
45.83x
|
46x ✓ |
| Retail (RII) |
13.98x
|
14x ✓ |
| Total | 66.01x | 66.01x |
Auto-updated every 5 min · As of 11th Sep 2026 18:54
Karamtara Engineering IPO Grey Market Premium (GMP) Today
GMP
+₹48.0
GMP %
+18.9%
Est. Listing
₹302.0
Updated: 17 Sep 2026 04:15
GMP Trend (Last 13 Days)
About the Company
Incorporated in 1996, Karamtara Engineering Limited is engaged in the business of manufacturing Products for renewable energy and transmission lines. The company offers a diverse product portfolio, serving as a one-stop shop for solar structures (fixed-tilt and trackers), fasteners for solar energy and transmission sectors, and overhead transmission line hardware fittings. The company is entering the wind energy sector by setting up a manufacturing facility for tubular towers for wind turbines, with operations expected to begin in the first quarter of Fiscal 2026. As of September 30, 2024, the company has a global presence, exporting to over 50 countries across North America, Europe, Asia, Africa, Australia, and Latin America, with a broad geographical footprint and delivery model. The company focuses on backward integration with in-house galvanizing facilities, the largest in India's solar energy sector (258,000 MTPA), and rolling mill furnaces, providing competitive advantages in the supply chain, time efficiency, and cost. In Fiscal 2022-2024 and the six months ended September 30, 2024, the company served 24-51 customers, mainly OEMs, EPCs, and IPPs, including repeat business from domestic and international solar energy leaders. Product Portfolio: Solar energy: They offer a wide range of solar mounting products, including fixed-tilt structures and tracker components for all types of solar projects. Lattice towers for transmission lines: The company manufactures a wide range of lattice towers for power transmission lines, with capabilities up to 1,200 kV. As of September 30, 2024, it has supplied over 0.5 million MT of towers globally. Fasteners for solar, wind, and transmission segments: The company manufactures a wide range of fasteners for industries like solar, wind, transmission, automobile, and telecom, including bolts, nuts, studs, washers, and custom fasteners for global clients and industrial applications. As of September 30, 2024, the company had 530 permanent employees. In addition, they have engaged 412 factory workers on the payroll. Competitive Strengths: Largest integrated manufacturer in India for solar mounting structures and tracker components Diverse product offerings acting as a one-stop shop for solar structures (fixed-tilt and trackers). Extensive global footprint with a track record of exports to over 50 countries Established relationships with global customers and high customer retention Strategic network of manufacturing facilities with advanced capabilities Experienced Promoter Directors supported by a skilled management team
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 4,142.24 | 2,762.59 | 1,844.56 |
| Total Income | 4,316.36 | 3,165.36 | 2,427.12 |
| Profit After Tax | 228.75 | 139.33 | 102.65 |
| EBITDA | 498.11 | 346.83 | 262.93 |
| NET Worth | 1,219.40 | 982.67 | 552.92 |
| Reserves and Surplus | 926.55 | 690.53 | 547.46 |
| Total Borrowing | 1,030.13 | 556.28 | 508.51 |
Key Ratios
EPS
₹7.75
NAV
₹33.62
ROE
18.13%
ROCE
23.30%
RoNW
18.15%
P/B Value
7.56
P/E Ratio
32.77
Market Cap
₹8174.30 Cr
Debt/Equity
0.57
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Emmvee Photovoltaic Power | 53.37 | 51.12% | 18.87 | 17.17 | 17.17 |
| Saatvik Green Energy | 107.08 | 41.97% | 14.23 | 29.83 | 29.76 |
| Vikram Solar | 87.43 | 21.34% | 12.7 | 13.68 | 13.6 |
| Premier Energies | 95.09 | 42.35% | 30.15 | 33.63 | 33.63 |
| Suzlon Energy | 6.9 | 40.64% | 20.25 | 2.31 | 2.31 |
| KP Green Engineering | 91.52 | 32.32% | 9.65 | 27.15 | 27.15 |
| Waaree Energies | 501.9 | 32.48% | 20.48 | 129.1 | 128.84 |
| Inox Wind | 36.93 | 8.32% | 27.08 | 2.65 | 2.65 |
| Karamtara Engineering This IPO | 41.72 | 20.78% | — | 7.83 | 7.83 |
Promoters
Tanveer SIngh, Rajiv Singh, Inderjeet Singh, Inderjeet Tanveer Singh Trust, Inderjeet Rajiv Singh Trust
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 prepayment, repayment and/ or payment obligations to lenders towards borrowings and Acceptances, in part or full 600.00 2 General corporate purposes 28.39 3 Issue Expenses 60.49 Total 688.88
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹2,427.12 Cr in the year ended 31 Mar 2024, rising to ₹3,165.36 Cr by 31 Mar 2025, and further increasing to ₹4,316.36 Cr by 31 Mar 2026. This shows a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit after tax was ₹102.65 Cr for the year ending 31 Mar 2024, increasing to ₹139.33 Cr by 31 Mar 2025, and further rising to ₹228.75 Cr by 31 Mar 2026. This indicates a positive growth trajectory in profitability across the periods.
Valuation
Karamtara Engineering's implied P/E at the issue price is approximately 32.77, compared to peers trading at a P/E range of 9.65 to 30.15.
Grey Market Premium, Explained
The grey market premium (GMP) indicates the price at which shares are expected to trade in the unofficial market before they are listed. A positive GMP suggests that the market anticipates a higher listing price compared to the IPO price.
Subscription Demand
The IPO saw strong demand, with total subscriptions at 66.01 times the offered shares. The institutional category (QIB) was particularly robust at 168.19 times, while retail investors subscribed 13.98 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment strategy and risk tolerance, considering market conditions and company fundamentals.
Who May Want to Wait
Investors who prefer stable returns without significant risks or those uncomfortable with the potential for short-term price fluctuations may want to avoid investing in IPOs like this.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 9 September 2026 and closes on 11 September 2026. Allotment of shares is expected by 15 September 2026, with the listing date set for 17 September 2026.
Listing Gains — The Risk
Investors should be aware that listing-day gains can be unpredictable. While some IPOs may see a surge in price on their first day of trading, others may not perform as expected, and there is always a risk of loss.
This evaluation is generated from Karamtara Engineering'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 Karamtara Engineering IPO GMP today?
Karamtara Engineering IPO GMP today is +₹48.0 (18.9%), indicating an estimated listing price of ₹302. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Karamtara Engineering IPO?
The price band of Karamtara Engineering IPO is ₹241.0–₹254.0 per share.
When does Karamtara Engineering IPO open and close?
Karamtara Engineering IPO opens on 09 September 2026 and closes on 11 September 2026.
When does Karamtara Engineering IPO list on the stock exchange?
Karamtara Engineering IPO listed on 17 September 2026 at ₹302.0.
What is the lot size for Karamtara Engineering IPO?
The lot size for Karamtara Engineering IPO is 59 shares, requiring a minimum investment of ₹14,986.
What is the price band for the Karamtara Engineering IPO?
The price band for the IPO is ₹241.0 to ₹254.0.
What is the lot size for the Karamtara Engineering IPO?
The lot size is 59 shares.
What is the minimum investment required for the Karamtara Engineering IPO?
The minimum investment required is ₹14,986.0.
When does the Karamtara Engineering IPO open and close?
The IPO opens on 9 September 2026 and closes on 11 September 2026.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected price at which shares may trade in the unofficial market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
09 Sep 2026
Close
11 Sep 2026
Allotment
15 Sep 2026
Listing
17 Sep 2026
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