Q1. What is the business of Kanohar Electricals Limited?

It manufactures high-voltage power transformers and provides comprehensive electrical substation engineering solutions.

Q2. Why is the company raising funds via IPO?

Kanohar Electricals is raising funds via IPO for machinery purchases, facility expansion, incremental working capital requirements, and supporting general corporate growth objectives.

Q3. What is the size of the issue of the IPO and where will it list?

The issue size of the IPO include a ₹300 crore fresh issue plus 1.45 crore shares via OFS. It will be listed on BSE and NSE platform.

Q4. What are the key risks to an investor?

Risks to invest in the IPO include heavy dependence on government contracts, intense competition from industry giants, and high geographic manufacturing concentration.

Q5. What are the potential upsides?

Potential upsides include surging profits, specialized certifications for high-voltage transformers, a massive ₹1,635 crore order book, and sector tailwinds.

Q6. How to apply for the IPO?

Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO is open for subscription.

Kanohar Electricals Limited: New IPO, Price, Profit, GMP Today

Upcoming

Kanohar Electricals Limited: New IPO, Price, Profit, GMP Today

Market Cap

₹ 3,962 – 4,583 Cr

IPO Issue Size

₹ 300 Cr + 1,45,90,000 Equity shares

Expected Price by IPOCorner

₹ 492 – 569

IPO Score

*Score varies on actual price

Kanohar Electricals Limited is a veteran manufacturer specializing in power transformers and turnkey EPC substation solutions up to 400kV.
The company serves critical sectors including power transmission, Indian Railways, and renewable energy, boasting a prestigious certification for 500MVA 400kV transformers.

In January 2026, the firm filed its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO. The issue includes a fresh equity component of ₹ 300 Crore and an Offer for Sale (OFS) of 1.46 Crore Equity shares by the K Sons Family Trust.

Kanohar Electricals Limited was incorporated on November 13, 1972 and is currently led by Mr. Dinesh Singhal.
Subscription date to apply for Kanohar Electricals Limited is yet to be announced. Price band for the IPO is yet to be declared.

₹ 300 Cr + 1,45,90,000 Equity shares

Fresh Issue

₹ 300 Crore

Offer for Sale

14,590,000 Equity Shares

Year	2025
Networth	₹ 243.13 Cr
Revenue	₹ 457.29 Cr
EBITDA	₹ 93.39 Cr
PAT	₹ 65.12 Cr
EBITDA Margin	20.73%
PAT Margin	14.24%
Face Value	Rs.02 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
Capital Expenditure ( In Crores)	₹ 66.74Cr
Working Capital requirements	₹ 130 Cr
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	306.97	281.12	457.29
PAT (₹ Cr)	16.8	17.75	65.1
Asset (₹ Cr)	285.21	322.86	432.06
Net Worth (₹ Cr)	160.51	178.12	243.13

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
08-Aug	₹ –	₹ –	₹ –
07-Aug	₹ –	₹ –	₹ –
06-Aug	₹ –	₹ –	₹ –
05-Aug	₹ –	₹ –	₹ –
04-Aug	₹ –	₹ –	₹ –

Pros

Strong Profit Growth: Net profit surged 267% in FY25, reaching ₹65.1 crore from ₹17.8 crore.
Specialized Certification: One of only five Indian firms certified for 500 MVA 400 kV transformers.
Robust Order Book: The order book stood at ₹1,635.56 crore as of September 2025.
Strategic Sector: Operates in high-growth sectors like renewable energy, railways, and national power transmission.
Healthy Financial Ratios: Reported a strong ROE of 30.9% and ROCE of 47.6% for FY25.

Cons

High Government Dependence: Over 95% of the total order book is derived from government entities.
Tendering Risks: Revenue depends on winning competitive government bids; losing pre-qualification status would hurt.
Geographic Concentration: Manufacturing is centered in Meerut; any local/logistics disruption might impact entire business.
Intense Competition: Faces large-scale rivals like BHEL, CG Power, and Schneider Electric Infrastructure.
Raw Material Volatility: No long-term supplier agreements, making margins vulnerable to price swings in metals.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
K sons Family Trust	97.00%
-	-
-	-
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	30.92%
ROCE	20.83%
RoNW	26.78%

Lead / Book Running Lead Managers

Nuvama Wealth Management Limited, IIFL Capital Services Limited

Registrar (RTA)

MUFG Intime India Private Limited

Q1. What is the business of Kanohar Electricals Limited?
It manufactures high-voltage power transformers and provides comprehensive electrical substation engineering solutions.
Q2. Why is the company raising funds via IPO?
Kanohar Electricals is raising funds via IPO for machinery purchases, facility expansion, incremental working capital requirements, and supporting general corporate growth objectives.
Q3. What is the size of the issue of the IPO and where will it list?
The issue size of the IPO include a ₹300 crore fresh issue plus 1.45 crore shares via OFS. It will be listed on BSE and NSE platform.
Q4. What are the key risks to an investor?
Risks to invest in the IPO include heavy dependence on government contracts, intense competition from industry giants, and high geographic manufacturing concentration.
Q5. What are the potential upsides?
Potential upsides include surging profits, specialized certifications for high-voltage transformers, a massive ₹1,635 crore order book, and sector tailwinds.
Q6. How to apply for the IPO?
Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO is open for subscription.