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Home
InvestmentsIPOKanohar Electricals IPO

Kanohar Electricals IPO

Mainboard

Open Date

8 Sep 2026

Close Date

10 Sep 2026

Min Investment

₹ 14,536

Lot Size

23

Issue Size

₹ 1055.74 Cr

Price Range

₹ 601 - ₹ 632

Subscribed

2.06 x
Apply Now
status

IPO Open Now.

IPO Timeline
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IPO Offer Start
8 Sep 2026
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IPO Offer Ends
10 Sep 2026
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Allotment Finalisation
11 Sep 2026
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Refund Initialisation
14 Sep 2026
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Non-Institutional Buyers (sHNI)
14 Sep 2026
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Listing of Shares
15 Sep 2026
IPO Subscription Details as on 8 Sep 2026, 03:08 PM
Qualified Instituational Buyers (QiB)
0.01 x
Retail
2.69 x
Total
2.06 x
Non-Institutional Buyer (bHNI)
2.66 x
Non-Institutional Buyer (sHNI)
4.7 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Kanohar Electricals Limited is one of the leading domestic players in transformer manufacturing in India, operating two business segments: Transformer Manufacturing Business and EPC Business. The company manufactures five different types of transformers (power, traction, Scott, shunt reactors, and distribution transformers) with customized technical specifications for power transmission, railways, renewable energy, and power distribution sectors. The company operates two manufacturing facilities in Meerut, Uttar Pradesh with an aggregate transformer manufacturing capacity of 19,200 MVA and is one of five companies in India certified for 500 MVA 400 kV transformers.
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Founded In

1972

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CEO

Adesh Singhal

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DRHP

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Financials of Kanohar Electricals IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue276.69450.61653.84
Other Income4.436.689.02
Total Income
281.12457.30662.86
Total Expenses
255.25369.50489.29
Profit Before Tax25.8787.79173.58
Total Profit
17.7665.12129.73

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilize Net Proceeds to scale up production of key offerings such as power transformers, traction transformers and Scott transformers. The investment is expected to increase transformer manufacturing capacity by an additional annual installed capacity and improve plant utilization.40
The company intends to consolidate employees into one office building located at the Gangol Manufacturing Facility. The New Office Building, once completed, is expected to house up to employees involved in manufacturing operations and routine operational activities.12
The company plans to invest in captive renewable energy generation by setting up on-grid rooftop solar power plants at Manufacturing Facilities and purchasing electric trucks and forklifts for handling and movement at the Gangol Manufacturing Facility.12
The company proposes to utilize Net Proceeds towards funding a portion of the incremental working capital requirements to support operations and future growth initiatives, including funding inventory, trade receivables, and maintaining margin fixed deposits.155
The company intends to deploy any balance left out of the Gross Proceeds towards general corporate purposes, including strategic initiatives, funding growth opportunities, acquisitions, brand building, and other purposes in the ordinary course of business.-
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  • Established player in the transformer manufacturing sector catering to high growth industries: The company has over 40 years of experience in transformer manufacturing and is one of the leading domestic players in terms of revenue in Fiscal 2026. The company caters to high growth industries such as power transmission, railways, renewable energy, and power distribution.
  • Successful short circuit testing of transformers up to 500 MVA 400 kV: The company has conducted short circuit testing at scale and as of March 31, 2026, has tested over 200 ratings. The company is one of five companies in India to have short circuit test certification for 500 MVA 400 kV transformers, enabling it to compete for large, high-value contracts.
  • Comprehensive presence across Transformer Manufacturing Business and EPC Business: The company entered EPC Business for substations in 2013 and transmission lines in 2021, enabling it to provide single window solutions. This integration allows the company to serve a large total addressable market and capitalise on hybrid contracts with integrated EPC and equipment supply requirements.
  • Integrated manufacturing facilities equipped to deliver high-quality products: The company operates two manufacturing facilities with aggregate transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The company has backward integrated setup supporting in-house production of critical components such as transformer tanks and radiators, ensuring quality control and cost optimization.
  • Track record of executing orders for large and marquee clients: The company has successfully executed orders across power transmission, railways, renewable energy, and power distribution sectors. As of March 31, 2026, the company's order book with Power Grid Corporation of India Limited (POWERGRID) aggregated to ₹ 5,732.63 million.
  • Experienced promoters and management team with significant industry experience: The company is led by Dinesh Singhal, a graduate of Indian Institute of Technology Roorkee, with over 40 years of experience in transformer manufacturing. The leadership is overseen by third generation of Promoters with team of over 526 professionals as of March 31, 2026.
  • Track record of profitability: The company achieved revenue from operations CAGR of 53.72% and EBITDA CAGR of 140.96% from Fiscal 2024 to Fiscal 2026. In Fiscal 2026, revenue from operations was ₹ 6,538.39 million and EBITDA was ₹ 1,804.16 million.

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