Kanohar Electricals IPO to open on September 8; price band fixed at ₹601-632 per share

Transformer manufacturer Kanohar Electricals Ltd on Thursday announced that its initial public offering (IPO) will open for subscription on September 8 (Tuesday), with a price band of ₹601-632 per equity share. The three-day public issue will close on September 10, the company said in a statement. 

The ₹1,056-crore IPO comprises a fresh issue of shares worth up to ₹300 crore and an offer-for-sale (OFS) of up to 1.2 crore shares by promoter K Sons Family Trust. The OFS is valued at ₹756 crore at the upper end of the price band. 

IPO proceeds 

Kanohar Electricals plans to use ₹64.1 crore from the fresh issue to meet capital expenditure requirements. The funds will be used to purchase machinery and equipment for its Gangol manufacturing facility, expand and automate its backward integration facilities, undertake civil construction and interior development of an office building, and support sustainability initiatives. 

Another ₹155 crore from the fresh issue will be used to fund incremental working capital requirements. The remaining proceeds will be utilised for general corporate purposes. 

According to a CARE report cited by the company, Kanohar Electricals is among the leading domestic transformer manufacturers by revenue in FY26. The company caters to sectors including power transmission, railways, renewable energy and power distribution. 

Business and financial performance 

Kanohar Electricals operates through two business segments—transformer manufacturing and engineering, procurement and construction (EPC). Its EPC business includes turnkey projects for substations and transmission lines, along with the installation of air-insulated and gas-insulated substations, bay augmentation, and transmission lines. 

The company's revenue from operations increased to ₹653.83 crore in FY26 from ₹276.6 crore in FY24. Net profit rose to ₹129.7 crore in FY26 from ₹17.7 crore in FY24. 

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

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