Kanohar Electricals came to market through an IPO that opened on 8 September 2026 and closed on 10 September 2026, and the shares listed on 16 September 2026 on BSE, NSE. The price band was ₹601 to ₹632 per share and one lot was 23 shares, so the minimum application was ₹14,536. The issue size was ₹1055.74 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹685.5, a gain of 8.5% against the issue price of ₹632. MUFG Intime India Pvt.Ltd was the registrar to the issue, and Nuvama Wealth Management Ltd., IIFL Capital Services Ltd were the lead managers.
As of 10 September 2026.
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Overall the issue was subscribed 90.59 times.
Incorporated in 1972, Kanohar Electricals Limited is involved in the production of transformers in India. The Company serves the power transmission, railways, renewable energy, and power distribution sectors. The Company runs its operations through two business segments namely (i) transformer manufacturing and (ii) Engineering, Procurement, and Construction (EPC).
The Company is one of the four manufacturers in India accredited by the Research Designs and Standards Organisation (RDSO), which is the research and development organisation of Indian Railways for manufacturing 100 MVA 132 kV Scott transformers. Kanohar Electricals Limited operates two plants situated in Rithani and Gangol, Meerut, Uttar Pradesh, with a combined capacity to manufacture 19,200 MVA of transformers as of September 30, 2025.
The Company has five regional offices in the National Capital Territory of Delhi, Mumbai (Maharashtra), Kolkata (West Bengal), Bengaluru (Karnataka) and Chennai (Tamil Nadu). As of September 30, 2025, it has a manpower strength of over 497 employees serving customers across India.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
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Kanohar Electricals Limited finalised its anchor investor allocation on September 7, 2026, raising ₹316.72 crore from 42 institutional investors at an anchor price of ₹632 per share.
The anchor book comprises 50,11,424 equity shares, with domestic mutual funds receiving 55.64% of the allocation through 11 fund houses across 19 schemes, including ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Tata Mutual Fund, 360 One Mutual Fund, Edelweiss Mutual Fund, Bank of India Mutual Fund, Union Mutual Fund, TRUSTMF, and Groww Mutual Fund.
Life insurance companies and pension funds received 11.05%, led by HDFC Life Insurance and multiple Axis Max Life Insurance schemes, along with Kotak Mahindra Life Insurance, Edelweiss Life Insurance, and Bharti AXA Life Insurance. The remaining allocation went to foreign portfolio investors and other institutional investors including Ashoka WhiteOak Emerging Markets Equity Fund, Allianz Global Investors, HSBC Global Investment Funds, VQ FasterCap Fund, and Abakkus Flexi Edge Fund.
Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal, Aditya Singhal. Promoter holding 99.72% before the issue and 78.64% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Kanohar Electricals IPO was a ₹1,055.74 crore book-built issue, comprising a fresh issue of ₹300 crore and an offer for sale of ₹755.74 crore. It was priced at ₹601–₹632 per share with a lot size of 23 shares (₹14,536). The IPO was open from September 8 to September 10, 2026 and was subscribed 90.59x. Shares listed on BSE and NSE on September 16, 2026 at ₹685.50, a 8.5% premium to the issue price of ₹632. MUFG Intime India Pvt. Ltd.
is the registrar. Nuvama Wealth Management Ltd. and IIFL Capital Services Ltd. are the book running lead managers.
The price band of Kanohar Electricals IPO is ₹601 to ₹632 per share.
The lot size of Kanohar Electricals IPO is 23 shares.
The minimum investment for Kanohar Electricals IPO is approximately ₹14,536 based on the upper price band.
The allotment date of Kanohar Electricals IPO is Sep 11, 2026.
No GMP quote could be verified as recorded before Kanohar Electricals IPO listed. A grey-market observation of ₹192 per share was recorded on 16 Sep 2026, 7:45 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹685.5. GMP is unofficial and does not forecast or guarantee the actual listing price.
Kanohar Electricals IPO listed on Sep 16, 2026. It was issued at ₹685.5(NSE) and is currently around ₹950.00 as on 30-Oct-2026 3:30 PM, which is approximately 50.3% versus issue price. The 52-week high is ₹1,207.70.
You can check Kanohar Electricals IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Kanohar Electricals IPO allotment status on Rupix for quick and easy access.
₹601 to ₹632 per share, against a face value of ₹2. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 23 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,536.
₹14,536, for one lot of 23 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 8 September 2026 and closed on 10 September 2026.
The basis of allotment was published on 11 September 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 16 September 2026 on BSE, NSE, opening at ₹685.5.
The issue size was ₹1055.74 crore. The fresh issue was 47,46,835 shares (aggregating up to ₹300 crore). The offer for sale was 1,19,57,915 shares (aggregating up to ₹755.74 crore).
It listed at ₹685.5 against an issue price of ₹632, a gain of 8.5 percent on listing day.