Kanohar Electricals IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Return Estimator (GMP*)
Allotment Chances
Day-wise Subscription (times subscribed)
Financial Analysis
| 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 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| 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 |
Promoters: Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal, Aditya Singhal
Strengths & Risks
- Strong grey-market premium — +38% over the issue price.
- 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%.
- Grey-market premium is slipping during the bidding window.
- 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
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.
| Purpose | Amount (Cr) |
|---|---|
| Funding the capital expenditure requirements of Company | - |
| Funding the incremental working capital requirements of Company | - |
| General Corporate Purposes | - |
Resources & Documents
Kanohar Electricals Ltd., Rithani,, Delhi Road, Meerut, Uttar Pradesh, 250103
Kanohar Electricals has set a price band of Rs 601–Rs 632 per share for an issue size of Rs 1,056 crore. The subscription window has closed; shares are expected to list on September 16, 2026 (2 days away).
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 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.
Grey market is quoting a premium of +Rs 241 (+38.1% over issue price), up Rs 209 from the previous session. Final subscription data records overall subscription at 90.57x, retail at 20.47x, QIB at 215.37x, NII at 87.73x.
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 are trading.
Our data-driven engine currently flags this issue as a Strong Subscribe — the data suggests strong listing-day potential backed by healthy fundamentals. Allotment status can be checked on the registrar portal once published; see the allotment links below.
Kanohar Electricals IPO GMP — What It Means
The latest grey market premium for Kanohar Electricals IPO is ₹241 (+38.1%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Kanohar Electricals it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
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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