Kanohar Electricals IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.03x | 6.50x | 215.37x |
| NII | 4.87x | 19.22x | 87.73x |
| bNII > ₹10L | 4.09x | 17.91x | 94.04x |
| sNII 2-10L | 6.44x | 21.84x | 75.11x |
| Retail | 3.30x | 8.49x | 20.47x |
| Total | 2.70x | 10.22x | 90.57x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 281.12 | 457.30 | 662.86 |
| Expense | 255.25 | 369.50 | 489.29 |
| Profit (PAT) | 17.76 | 65.12 | 129.73 |
| Total Assets | 322.86 | 432.07 | 613.93 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Kanohar Electricals This IPO | 17.43 | - | 34.80 | 50.09 | - |
| Hitachi Energy India Limited | 221.63 | 159.55 | 19.08 | 1,161.56 | 8,147.71 Cr |
| Bharat Heavy Electricals Limited | 4.60 | 91.30 | 6.13 | 74.99 | 33,782.18 Cr |
| Schneider Electric Infrastructure Limited | 8.89 | 155.12 | 28.98 | 30.67 | 2,890.63 Cr |
| CG Power and Industrial Solutions Limited | 7.72 | 114.77 | 15.82 | 48.11 | 12,417.95 Cr |
| Transformers & Rectifiers (India) Limited | 9.07 | 32.19 | 17.64 | 51.39 | 2,508.80 Cr |
| GE Vernova T&D India Limited | 48.16 | 89.37 | 45.85 | 42.87 | 6,206.31 Cr |
Strengths & Risks
- Heavily oversubscribed — 90.6x overall (so far).
- Strong institutional (QIB) demand — 215.4x.
- Revenue grew 45% in the latest reported year.
- Solid profit margin — 19.6%.
- Strong return on equity — 42%.
- Largely an offer for sale — most proceeds go to selling shareholders, not the company.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Kanohar Electricals
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.
Company Contact Information
Kanohar Electricals Ltd., Rithani,, Delhi Road, Meerut, Uttar Pradesh, 250103
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding the capital expenditure requirements of Company | - |
| Funding the incremental working capital requirements of Company | - |
| General Corporate Purposes | - |
Resources & Documents
Anchor Investors
Kanohar Electricals IPO - Quick Take
Kanohar Electricals has set a price band of Rs 601–Rs 632 per share for an issue size of Rs 1,056 crore. The stock listed with a 6.34% gain versus its issue price on September 16, 2026.
The issue is promoted by Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal, Aditya Singhal with Nuvama Wealth Management Ltd., IIFL Capital Services Ltd. acting as lead manager. Net proceeds will primarily be used towards funding the capital expenditure requirements of Company and funding the incremental working capital requirements of Company.
On fundamentals, the company is posting revenue growth of 45.0%, a profit margin of 19.6%, return on equity of 42.1% in its most recent reported period. Listed peers in this segment include Hitachi Energy India Limited (P/E 159.55x) and Bharat Heavy Electricals Limited (P/E 91.30x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Kanohar Electricals IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 30.4%. Of the 23 Mainboard IPOs we have tracked with a final GMP of 25% or more, 23 listed above, 0 flat and 0 below the issue price; Kanohar Electricals listed 6.3% above its issue price.
See the full Kanohar Electricals GMP history and trend, or learn how grey market premium works and how reliable it is.
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