Kanohar Electricals IPO
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Kanohar Electricals IPO details
Schedule of Kanohar Electricals
| Issue open date | 08 Sep 2026 |
| Issue close date | 10 Sep 2026 |
| UPI mandate deadline | 10 Sep 2026 (5 PM) |
| Allotment finalization | 11 Sep 2026 |
| Refund initiation | 15 Sep 2026 |
| Share credit | 15 Sep 2026 |
| Listing date | 16 Sep 2026 |
| Mandate end date | 25 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 10 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 09 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Kanohar Electricals
Kanohar Electricals manufactures five custom transformer types (power, traction, Scott, shunt reactors, and distribution) across two Meerut facilities. Serving high-growth transmission, railway, and renewable sectors, it also provides turnkey substation and transmission line EPC solutions. Most revenue is driven by these core segments and secured through government and state utility tenders.
Financials of Kanohar Electricals
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 1055.74 |
| Fresh Issue – Proceeds go to the company | 300 |
| Offer for sale – Proceeds go to the existing investors | 755.74 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding the capital expenditure requirements | 64.18 (21.39%) |
| Funding the incremental working capital requirements | 155 (51.67%) |
| General Corporate Purposes | 80.82 (26.94%) |
Strengths
- Strong order book standing at ₹1818.32 crores as of March 31, 2026.
- Proven track record of executing large-scale turnkey EPC projects for government entities.
- Comprehensive in-house manufacturing capabilities at the Rithani and Gangol facilities.
- Specialized product portfolio catering to high-growth sectors like railways and renewable energy.
- Successful development and short-circuit testing of advanced 500 MVA and Scott transformers
Risks
- High customer concentration with the top 10 clients contributing 93.16% of total revenue.
- Heavy reliance on government tenders exposes the business to disqualification and blacklisting risks.
- Business operations are geographically concentrated around the Meerut manufacturing facilities.
- The absence of long-term contracts with raw material suppliers exposes the company to pricing volatility.
- History of negative cash flows from operating, investing, and financing activities.
Allotment Status for Kanohar Electricals
To check your IPO allotment status:
- Visit the MUFG Intime India IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Kanohar Electricals
Grey Market Premium (GMP) is an unofficial and unregulated metric that may not accurately reflect investor interest. Instead, investors should refer to the IPO subscription data published by the stock exchanges, which is a more reliable indicator of demand.
Subscription numbers as of 05:00 PM on September 10, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 33.41 | 7195.40 | 215.37x |
| NII | 25.06 | 2198.49 | 87.74x |
| Retail | 58.47 | 1198.99 | 20.51x |
| Total | 116.93 | 10592.88 | 90.59x |