Kanohar Electricals IPO Profile
Kanohar Electricals Limited is coming with a Mainboard IPO through a combination of fresh issue and Offer for Sale (OFS). The IPO is scheduled to open on 8 September 2026 and close on 10 September 2026.
Kanohar Electricals IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 8 September 2026 |
| IPO Close Date | 10 September 2026 |
| Price Band | ₹601 – ₹632 per share |
| Face Value | ₹2 per equity share |
| Lot Size | 23 Shares |
| Minimum Retail Investment | ₹14,536 at upper price band |
| Total Issue Size | Approx. ₹1,055.74 Crore |
| Fresh Issue | ₹300 Crore |
| Offer for Sale | Approx. ₹755.74 Crore |
| Issue Type | Book Built Issue IPO |
| Listing | BSE & NSE |
| Tentative Allotment Date | 11 September 2026 |
| Refund Initiation | 15 September 2026 |
| Shares Credit to Demat | 15 September 2026 |
| Tentative Listing Date | 16 September 2026 |
| Registrar | MUFG Intime India Private Limited |
About Kanohar Electricals Limited
Incorporated in 1972, Kanohar Electricals Limited is engaged in the manufacturing of transformers and providing engineering, procurement and construction (EPC) solutions.
The company caters to sectors including power transmission, power distribution, railways and renewable energy. Its business primarily consists of transformer manufacturing and EPC projects related to the power infrastructure industry.
The company manufactures power transformers, traction transformers, Scott connected transformers, distribution transformers and shunt reactors.
Kanohar Electricals operates two manufacturing facilities located at Rithani and Gangol in Meerut, Uttar Pradesh. The facilities have an aggregate transformer manufacturing capacity of approximately 19,200 MVA.
Key Business Areas
- Power Transformer Manufacturing
- Traction Transformers
- Scott Connected Transformers
- Distribution Transformers
- Shunt Reactors
- Engineering, Procurement & Construction (EPC)
- Power Substations
- Transmission Lines
- Railway Electrification related solutions
- Renewable Energy Infrastructure
Kanohar Electricals Financial Performance
Below are the company's restated financial highlights. Amounts are approximately in ₹ Crore.
| Particulars | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Total Income | ₹281.12 Cr | ₹457.30 Cr | ₹662.86 Cr |
| Revenue from Operations | ₹276.69 Cr | ₹450.61 Cr | ₹653.84 Cr |
| Profit After Tax | ₹17.76 Cr | ₹65.12 Cr | ₹129.73 Cr |
| EBITDA | ₹31.07 Cr | ₹93.39 Cr | ₹180.42 Cr |
| Net Worth | ₹178.12 Cr | ₹243.13 Cr | ₹372.84 Cr |
| Total Assets | ₹322.86 Cr | ₹432.07 Cr | ₹613.93 Cr |
| Total Borrowings | ₹42.08 Cr | ₹32.27 Cr | ₹39.04 Cr |
Objects of the IPO
The company proposes to utilise the proceeds from the fresh issue primarily for business expansion and corporate requirements.
| Purpose | Approx. Amount |
|---|---|
| Capital expenditure requirements | ₹64.18 Crore |
| Incremental working capital requirements | ₹155 Crore |
| General corporate purposes | Balance proceeds |
Kanohar Electricals IPO Strengths & Risks
✅ Strengths
- Established operating history with business roots dating back to 1972.
- Strong presence in transformer manufacturing and power infrastructure EPC activities.
- Diversified product portfolio including power, traction, Scott and distribution transformers.
- Two manufacturing facilities with aggregate installed transformer capacity of around 19,200 MVA.
- Strong order book of approximately ₹1,818.32 crore as of March 31, 2026.
- Presence in high-growth sectors such as power transmission, railways and renewable energy.
- Significant improvement in revenue, EBITDA and profitability during recent financial years.
- Low debt-to-equity ratio compared with earlier years.
⚠️ Risk Factors
- A significant portion of revenue is dependent on a limited number of major customers.
- The top 10 customers contributed a substantial share of the company's revenue in FY 2026.
- High dependence on government entities and tender-based orders.
- Delay, cancellation or failure to win government tenders may impact future revenue.
- Manufacturing facilities are geographically concentrated in Meerut, Uttar Pradesh.
- Raw-material price fluctuations can impact margins because the company may not always have long-term supply arrangements.
- Transformer manufacturing and EPC industries are competitive and project execution intensive.
- Any slowdown in power transmission, railway or infrastructure spending may affect order inflows.
Kanohar Electricals IPO Allotment Status
Kanohar Electricals IPO allotment is expected to be finalised on or around 11 September 2026.
Investors can check the IPO allotment status using their PAN Number, Application Number or Demat details on the registrar's website.
Check Kanohar Electricals IPO AllotmentFrequently Asked Questions (FAQs)
Kanohar Electricals IPO is a Mainboard IPO consisting of a fresh issue and an Offer for Sale. The total issue size is approximately ₹1,055.74 crore at the upper price band.
The IPO is scheduled to open on 8 September 2026 and close on 10 September 2026.
The IPO price band has been fixed at ₹601 to ₹632 per equity share.
The minimum IPO lot size is 23 shares. At the upper price band of ₹632, one lot requires an investment of ₹14,536.
The total IPO issue size is approximately ₹1,055.74 crore, comprising a ₹300 crore fresh issue and an Offer for Sale of approximately ₹755.74 crore.
The tentative IPO allotment date is 11 September 2026.
Kanohar Electricals shares are tentatively scheduled to list on BSE and NSE on 16 September 2026.
MUFG Intime India Private Limited is the registrar for the Kanohar Electricals IPO.
Investors should evaluate the company's financial performance, valuation, order book, industry outlook, customer concentration and other risk factors before making an investment decision. IPO investments are subject to market risk.
