- Price band of Rs 601 – Rs 632 per Equity Share bearing face value of Rs 2 each (“Equity Shares”)
- Bid/Offer Opening Date – Tuesday, September 08, 2026 and Bid/Offer Closing Date – Thursday, September 10, 2026
- Minimum Bid Lot is 23 Equity Shares and in multiples of 23 Equity Shares thereafter
Kanohar Electricals Limited, a leading player in the power transformer and electrical equipment manufacturing sector, has announced the launch of its maiden Initial Public Offering (IPO), setting the price band at Rs 601 to Rs 632 per Equity Share of face value Rs 2 each. The public issue is scheduled to open for subscription on Tuesday, September 08, 2026, and will close on Thursday, September 10, 2026. Investors can place bids starting with a minimum lot size of 23 Equity Shares, and in multiples of 23 shares thereafter.
The total equity share capital outstanding for Kanohar Electricals Limited as on date stands at 74,440,000 Equity Shares of face value Rs 2 each. The mainboard public offer is structured as a mix of a fresh issue of equity shares worth up to Rs 300 crore, alongside an Offer for Sale (OFS) of up to 11,957,915 Equity Shares by the promoter selling shareholder, K Sons Family Trust. With strong market sentiment in the power equipment and industrial manufacturing segment, this public issue offers institutional, non-institutional, and retail investors a direct opportunity to participate in the company’s next phase of market expansion.
The proceeds from its fresh issuance worth Rs 64.1 crore will be used for funding the capital expenditure requirements of the company toward the purchase of new machinery and equipment for its Gangol manufacturing facility for increasing its transformer manufacturing capacity, expanding and automating its backward integration facilities and enhancing operational efficiency, civil construction and interior development of an office building at its Gangol manufacturing facility, and enhancing its sustainability initiatives by setting up of solar power plants at its manufacturing facilities, and purchasing electric vehicles for handling and movement at its Gangol manufacturing facility. Also, Rs 155 crore for funding the incremental working capital requirements of the company, and general corporate purposes.
The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).
The company is one of the leading domestic players in transformer manufacturing in terms of revenue in Fiscal 2026. The company caters to high-growth industries such as power transmission, railways, renewable energy and power distribution (Source: CARE Report).
As of March 31, 2026, the company is one of five companies in India to have short-circuit test certification for 500 MVA, 400 kV transformers that are used in the power transmission industry (Source: CARE Report). The company conducts short-circuit testing of its transformers at a scale and, as of March 31, 2026, have tested over 200 ratings.
The company is one of four manufacturers in India certified by the Research Designs and Standards Organisation (RDSO), the research and development wing of Indian Railways, to manufacture 100 MVA, 132 kV Scott transformers. The company is also one of two Indian manufacturers certified to manufacture 100 MVA, 220 kV Scott transformers, both of which cater to the demand for rail network electrification from Indian Railways (Source: CARE Report).
Through the company’s backward-integrated facilities, it offers a wide range of products and solutions for India’s energy infrastructure, particularly in transformer manufacturing, supported by its in-house technology.
The company operates its business through two segments – transformer manufacturing business and EPC Business.
In its EPC business, the company undertakes engineering, procurement and construction projects in the power transmission and distribution sector, in addition to their transformer manufacturing operations. This enables them to execute turnkey projects for substations and transmission lines.
The company also undertakes turnkey installation of air-insulated and gas-insulated substations, bay augmentation in existing substations of up to 400 kV class, and installation of transmission lines across 132 kV, 220 kV and 400 kV.
The company’s EPC projects typically involve the design, engineering, procurement, supply, erection, testing and commissioning of electrical infrastructure.
The company has over 40 years of experience in its transformer manufacturing business. As a part of its transformer manufacturing business it manufactures five different types of transformers with customized technical specifications to address the energy needs of industries to which we cater, which include power transmission, railways, renewable energy and power distribution.
The company’s revenue from operations was Rs 653.83 crore in FY26 as against Rs 276.6 crore in FY24. Its net profit was Rs 129.7 crore in FY26 as against Rs 17.7 crore in FY24.
Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the Offer. The equity shares are proposed to be listed on NSE and BSE.
