Kanohar Electricals IPO: GMP Today, Price Band, Dates, Lot Size & Allotment

Kanohar Electricals IPO: Kanohar Electricals IPO opened for subscription on September 8, 2026, with a price band of ₹601–₹632 per share. The ₹1,055.74 crore mainboard IPO will remain open until September 10, while the shares are tentatively scheduled to list on the BSE and NSE on September 16, 2026.

The transformer manufacturer is raising funds through a combination of a ₹300 crore fresh issue and an offer for sale (OFS) worth up to ₹755.74 crore.

Meanwhile, Kanohar Electricals IPO GMP remains positive in the unofficial grey market, keeping the issue on the radar of investors looking for potential listing gains.

⚡ Quick Update: At an upper price band of ₹632 and a lot size of 23 shares, the minimum retail application for one lot is ₹14,536.

📌 Kanohar Electricals IPO Highlights

📈 Kanohar Electricals IPO GMP Today

As of September 8, 2026, the Kanohar Electricals IPO grey market premium (GMP) is indicated at around ₹196 per share based on the grey-market data available for this article.

With the upper IPO price fixed at ₹632, a GMP of ₹196 implies an estimated listing price of:

₹632 + ₹196 = ₹828 per share

That represents an indicative premium of approximately:

₹196 ÷ ₹632 × 100 = 31.01%

Therefore, if the prevailing GMP were reflected in the actual market debut, the implied listing price would be around ₹828 per share, or approximately 31% above the upper issue price.

⚠️ Important: GMP is an unofficial and unregulated market indicator. It can rise or fall sharply before listing and does not guarantee the actual listing price or investment return.

📊 Kanohar Electricals IPO GMP Trend

The available trend indicates that Kanohar Electricals IPO GMP has remained positive, moving within a relatively narrow ₹190–₹205 range during the period shown above.

Investors should nevertheless treat these figures as sentiment indicators rather than forecasts.

🏭 Kanohar Electricals IPO Details

Kanohar Electricals’ IPO is a book-built issue worth up to ₹1,055.74 crore.

The offering consists of fresh equity shares as well as shares being sold by an existing shareholder through the OFS.

📅 Kanohar Electricals IPO Dates

Investors tracking the Kanohar Electricals IPO allotment and listing should keep these dates in mind:

The schedule is subject to change in accordance with the IPO process and regulatory requirements.

💰 Kanohar Electricals IPO Lot Size and Minimum Investment

The Kanohar Electricals IPO lot size is 23 shares.

At the upper end of the ₹601–₹632 price band, the investment required for one lot is:

23 shares × ₹632 = ₹14,536

Therefore, a retail investor bidding at the cut-off/upper price would need ₹14,536 for one lot.

Applications for additional lots remain subject to the applicable investor-category limits and IPO rules.

🔥 Kanohar Electricals IPO Subscription Status

Kanohar Electricals IPO attracted investor interest on its opening day. By around 5:00 PM on September 8, available NSE-based market reporting indicated that the issue had received bids for roughly 3.16 crore shares against approximately 1.17 crore shares on offer, translating to about 2.70 times subscription.

Retail participation was reported at around 3.29 times, while the non-institutional investor (NII) portion was subscribed approximately 4.87 times.

Subscription figures can continue to change while bidding is open, so investors should check the latest exchange data before relying on these numbers.

🧾 Fresh Issue vs OFS: Where Does the IPO Money Go?

The Kanohar Electricals IPO has two major components.

Fresh Issue

The company proposes to issue approximately 47.47 lakh new equity shares, raising up to ₹300 crore.

Because these are newly issued shares, the proceeds from this portion—after applicable issue expenses—will go to Kanohar Electricals for the purposes specified in its offer documents.

Offer for Sale

The IPO also includes an OFS of approximately 1.20 crore shares, aggregating up to ₹755.74 crore at the offer price.

Unlike the fresh issue, proceeds from the OFS go to the selling shareholder rather than Kanohar Electricals.

That distinction matters because only the fresh-issue proceeds directly add capital to the company.

💼 How Will Kanohar Electricals Use the IPO Proceeds?

Kanohar Electricals intends to deploy fresh-issue proceeds toward business requirements including capital expenditure and incremental working capital.

Working capital represents the largest specified allocation.

This is relevant for investors because transformer manufacturing and EPC operations can require substantial working capital to execute large projects and manage the gap between procurement, manufacturing, delivery and customer payments.

🏭 About Kanohar Electricals Limited

Founded in 1972, Kanohar Electricals Limited is an Indian transformer manufacturer and engineering company.

Its operations broadly span two areas:

• Transformer manufacturing
• Engineering, procurement and construction (EPC)

The company supplies equipment and services to sectors including power transmission, power distribution, renewable energy and railways.

Kanohar Electricals operates manufacturing facilities at Rithani and Gangol in Meerut, Uttar Pradesh.

As of March 31, 2026, its combined transformer manufacturing capacity stood at approximately 19,200 MVA.

The company also has a regional presence across major Indian cities, including Delhi, Mumbai, Kolkata, Bengaluru and Chennai.

🚆 Kanohar Electricals and Indian Railways

Railways form another important area of the company’s operations.

Kanohar Electricals has certification from the Research Designs and Standards Organisation (RDSO) for manufacturing specialised transformers used in railway applications.

This gives the company exposure to railway electrification and related infrastructure spending in addition to its conventional transmission and distribution businesses.

📊 Kanohar Electricals Financial Performance

Kanohar Electricals recorded a sharp improvement in its financial performance leading up to the IPO.

Total income increased from ₹457.30 crore in FY2025 to ₹662.86 crore in FY2026, representing growth of roughly 45%.

Profit after tax increased from ₹65.12 crore to ₹129.73 crore, or approximately 99% year-on-year.

Kanohar Electricals Financials

The numbers show strong growth in income, EBITDA and profit over the three financial years shown.

✅ Kanohar Electricals IPO Strengths

Several factors could support investor interest in the issue.

Strong financial growth: Total income grew roughly 45% in FY2026, while PAT almost doubled compared with FY2025.

Exposure to India’s power infrastructure: Transformers are critical components of transmission and distribution networks, giving the business exposure to continued investment in India’s electricity infrastructure.

Diversified end-use sectors: The company serves power transmission, distribution, renewable-energy and railway applications.

Specialised manufacturing capabilities: Its certifications and transformer manufacturing capabilities provide exposure to technically demanding applications.

Positive grey-market sentiment: The IPO’s positive GMP indicates favourable unofficial market sentiment ahead of listing, although it should not be treated as a guarantee.

⚠️ Risks Investors Should Consider

Potential investors should evaluate the risks alongside the growth story.

Large OFS component: About ₹755.74 crore of the ₹1,055.74 crore issue is an offer for sale. That money goes to the selling shareholder rather than the company.

Working-capital requirements: The business requires meaningful working capital, and ₹155 crore of fresh proceeds is earmarked for incremental working-capital needs.

Customer concentration: A high dependence on particular customer groups, including government-related customers, can create concentration and payment-cycle risks.

Industry cyclicality: Demand can be influenced by power-sector capital expenditure, infrastructure investment, raw-material costs and project execution.

GMP volatility: Grey-market premiums can change quickly and may not accurately predict listing-day performance.

📈 Kanohar Electricals IPO Listing Price Expectations

At the upper price band of ₹632, the ₹196 GMP used in this article produces an implied price of approximately:

₹632 + ₹196 = ₹828

For a retail lot containing 23 shares:

23 × ₹828 = ₹19,044

Compared with the ₹14,536 application value at the upper price, the mathematical difference is:

₹19,044 − ₹14,536 = ₹4,508

That works out to approximately ₹4,508 per lot.

⚠️ This is not a prediction of profit. It is simply a calculation based on the stated GMP. The actual listing price may be higher or lower, and GMP itself can change before listing.

🔎 Kanohar Electricals IPO: Key Things to Know

Investors evaluating the issue should focus on the combination of strong recent earnings growth, exposure to India’s power-infrastructure cycle, manufacturing capabilities and the company’s working-capital requirements.

The IPO’s positive grey-market premium may attract investors seeking listing gains. However, fundamentals, valuation, customer concentration, the size of the OFS and the company’s ability to sustain recent earnings growth deserve equal attention.

For long-term investors, the more important question is not simply whether the stock lists above ₹632, but whether Kanohar Electricals can maintain profitable growth after becoming a listed company.

❓ Kanohar Electricals IPO FAQs

What is Kanohar Electricals IPO GMP today?

As of September 8, 2026, the GMP used for this article is approximately ₹196 per share. At the upper issue price of ₹632, this implies an estimated price of around ₹828. GMP is unofficial and can change quickly.

What is the Kanohar Electricals IPO price band?

The IPO price band has been fixed at ₹601 to ₹632 per equity share.

What is the Kanohar Electricals IPO lot size?

The minimum lot size for retail investors is 23 shares.

What is the minimum investment in Kanohar Electricals IPO?

At the upper price of ₹632, one lot of 23 shares costs ₹14,536.

When does Kanohar Electricals IPO close?

The IPO opened on September 8 and is scheduled to close on September 10, 2026.

What is the Kanohar Electricals IPO allotment date?

The basis of allotment is expected to be finalised on September 11, 2026, subject to the IPO schedule.

When will Kanohar Electricals shares list?

The shares are tentatively scheduled to list on the BSE and NSE on September 16, 2026.

What is the size of Kanohar Electricals IPO?

The IPO aggregates up to approximately ₹1,055.74 crore, comprising a fresh issue of up to ₹300 crore and an OFS of up to ₹755.74 crore.

Is Kanohar Electricals IPO GMP guaranteed?

No. GMP is an unofficial grey-market indicator and does not guarantee either the IPO’s listing price or subsequent returns.

Should you apply for Kanohar Electricals IPO?

That depends on an investor’s objectives, risk tolerance and assessment of the company’s valuation, financial performance, business prospects and risks. GMP alone should not be the basis for an investment decision.

📝 Final Takeaway

Kanohar Electricals IPO enters the market with strong recent financial growth, a ₹1,055.74 crore issue size and positive grey-market sentiment.

At ₹601–₹632 per share, investors can apply for a minimum lot of 23 shares. The IPO closes on September 10, with allotment expected on September 11 and a tentative BSE/NSE listing on September 16.

The positive GMP may support expectations of a strong debut, but investors should avoid treating grey-market activity as a guaranteed return. The company’s financial performance, valuation, working-capital intensity, customer concentration and post-IPO growth prospects are more important for a long-term investment decision.

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to subscribe to the IPO. IPO investments are subject to market risks. Investors should read the Red Herring Prospectus and consult a SEBI-registered investment adviser where appropriate before making an investment decision.