Kanohar Electricals IPO entered its final day of bidding on September 10, 2026, with the ₹1,055.74 crore public issue attracting strong demand across investor categories. As of 10:12 a.m., the issue had been subscribed 11.10 times, according to the subscription figures provided for the IPO.
The transformer manufacturer’s initial public offering opened for subscription on September 8 and is scheduled to close on September 10.
The IPO has a price band of ₹601 to ₹632 per share, with investors required to bid for a minimum of 23 shares.
With the bidding window nearing its close, investors are now watching the final subscription figures and the subsequent allotment process.
See more of our coverage in your search results.
Add INDYASTORY on GoogleKanohar Electricals IPO Day 3 Subscription Status
As of 10:12 a.m. on September 10, the ₹1,055.74 crore issue had received total bids equivalent to 11.10 times the shares offered.
The category-wise subscription was:
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 6.59x |
| Non-Institutional Investors (NIIs) | 22.08x |
| Retail Individual Investors (RIIs) | 8.97x |
| Total | 11.10x |
These are intraday figures and the final subscription multiple can change before the issue officially closes.
The strongest demand at the time of the reported update came from the non-institutional investor category, which had been subscribed 22.08 times.
Kanohar Electricals IPO Price and Minimum Investment
The company has fixed the IPO price band at ₹601 to ₹632 per equity share.
See more of our coverage in your search results.
Add INDYASTORY on GoogleThe face value of each share is ₹2.
The minimum application size is 23 shares. At the upper end of the price band, investors would need ₹14,536 for one lot.
Key issue details are:
See more of our coverage in your search results.
Add INDYASTORY on Google| Particular | Details |
|---|---|
| Issue size | Up to ₹1,055.74 crore |
| Fresh issue | Up to ₹300 crore |
| Offer for sale | Up to ₹755.74 crore |
| Face value | ₹2 per share |
| Price band | ₹601–₹632 |
| Lot size | 23 shares |
| Minimum investment at upper band | ₹14,536 |
| Listing | BSE and NSE |
| Lead managers | Nuvama Wealth Management, IIFL Capital Services |
| Registrar | MUFG Intime India |
The offering consists of both a fresh issue and an offer for sale (OFS).
The distinction is important for investors because money raised through the fresh issue goes to the company, while proceeds from the OFS generally go to the selling shareholders.
Kanohar Electricals IPO Allotment Date
According to the tentative schedule, the basis of allotment is expected to be finalised on September 11, 2026.
The tentative post-issue schedule is as follows:
| IPO Event | Tentative Date |
|---|---|
| Subscription opens | September 8, 2026 |
| Subscription closes | September 10, 2026 |
| Basis of allotment | September 11, 2026 |
| Refund initiation | September 15, 2026 |
| Share credit | September 15, 2026 |
| BSE/NSE listing | September 16, 2026 |
The dates are subject to change and should be confirmed through the company’s official IPO documents, registrar and stock exchanges.
How to Check Kanohar Electricals IPO Allotment
Once the basis of allotment is finalised, investors can check their application status through the IPO registrar.
MUFG Intime India is the registrar to the issue.
Applicants will generally need to provide identifying application details, which may include their PAN, application number or demat-related information, depending on the registrar’s online facility.
Investors should use the official registrar and exchange websites rather than relying on links circulated through social-media posts or messaging platforms.
Successful applicants should subsequently see the allotted shares credited to their linked demat accounts according to the issue timetable.
What Will Kanohar Electricals Do With the IPO Proceeds?
The fresh issue is expected to provide the company with up to ₹300 crore.
According to the issue details supplied for the IPO, Kanohar Electricals plans to deploy the net proceeds toward three broad purposes:
- Capital expenditure requirements
- Additional working-capital requirements
- General corporate purposes
The proposed use of funds is particularly relevant for a manufacturing company because capacity expansion and working capital can play an important role in supporting order execution and future revenue growth.
What Does Kanohar Electricals Do?
Kanohar Electricals is an Indian manufacturer of transformers and an engineering, procurement and construction company serving the power sector.
The company operates across areas including power transmission, power distribution, railway electrification and renewable energy.
Its business is divided broadly into two verticals:
- Transformer manufacturing
- EPC services
Its manufacturing operations are backward-integrated, allowing the company to produce several transformer components and execute manufacturing activities within its facilities.
The EPC business focuses on turnkey projects involving substations and transmission lines for power-transmission and distribution customers.
Kanohar Electricals Has a Presence in High-Voltage Transformer Segment
According to the company information provided for the IPO, Kanohar Electricals was among only five Indian companies certified as of March 31, 2026, to conduct short-circuit testing for 500 MVA, 400 kV transformers.
The company had successfully tested more than 200 transformer ratings, according to the supplied IPO information.
It is also among the RDSO-approved manufacturers of Scott transformers, which are used in railway electrification.
These capabilities provide the company with exposure to specialised areas of India’s power-infrastructure ecosystem.
Kanohar Electricals Financial Performance
The company’s financial results show strong growth across the three financial years presented in the IPO information.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Revenue from operations | ₹653.84 crore | ₹450.61 crore | ₹276.69 crore |
| EBITDA | ₹180.42 crore | ₹93.39 crore | ₹31.07 crore |
| Profit After Tax | ₹129.73 crore | ₹65.12 crore | ₹17.76 crore |
Revenue increased from ₹276.69 crore in FY24 to ₹653.84 crore in FY26 based on the figures supplied.
EBITDA also increased substantially over the same period, while profit after tax rose from ₹17.76 crore in FY24 to ₹129.73 crore in FY26.
Investors should examine the company’s offer documents for the underlying reasons behind this growth, including order execution, product mix, margins, working-capital requirements and project concentration.
Why the IPO Has Attracted Investor Attention
Kanohar Electricals operates in sectors linked to India’s broader power and infrastructure requirements.
Investment in transmission networks, distribution infrastructure, renewable-energy integration and railway electrification can create opportunities for equipment manufacturers and EPC contractors.
However, the company’s future performance will also depend on its ability to execute orders efficiently, manage raw-material costs, maintain margins and convert its order pipeline into cash flows.
Strong IPO subscription numbers demonstrate demand for the offering, but they do not by themselves establish the company’s future share-price performance.
Kanohar Electricals IPO Listing Date
Kanohar Electricals shares are tentatively scheduled to list on the BSE and NSE on September 16, 2026.
The actual listing price will be determined by market demand once trading begins.
Investors should therefore distinguish between the IPO issue price and any unofficial market expectations about the listing.
If grey-market premium information becomes available, it should be treated cautiously because GMP is unofficial, can change rapidly and does not guarantee the listing price.
What Investors Should Watch After the IPO
After listing, investors are likely to focus on several factors beyond the initial market debut.
These include:
- Revenue growth
- EBITDA and profit margins
- Order-book strength
- Capacity utilisation
- Working-capital requirements
- Raw-material costs
- Debt levels
- EPC execution
- Transformer demand
- Power-sector capital expenditure
The company’s ability to sustain the financial growth reported through FY26 will be particularly important.
A strong IPO listing can attract short-term attention, but the company’s longer-term valuation will ultimately depend on business performance and investor expectations.
Kanohar Electricals IPO: Key Takeaway
The Kanohar Electricals IPO has entered its final subscription day with strong demand. At 10:12 a.m. on September 10, the issue was subscribed 11.10 times, led by demand from non-institutional investors.
The ₹1,055.74 crore offering carries a price band of ₹601–₹632 per share and a minimum lot size of 23 shares.
The basis of allotment is tentatively scheduled for September 11, followed by share credit and refunds on September 15 and a proposed BSE-NSE listing on September 16.
For investors, the next immediate milestone is the allotment result. Beyond the listing, the company’s ability to sustain its growth, execute its power-sector projects and manage working capital will be critical to its performance as a listed company.
Disclaimer: This article is provided for informational and educational purposes only and should not be interpreted as investment advice or a recommendation to subscribe to, buy or sell Kanohar Electricals shares. IPO subscription figures and schedules can change, and listing performance cannot be predicted with certainty. Investors should read the company’s official offer documents and verify the latest information through authorised sources before making investment decisions.
