KANOHAR ELECTRICALS LTD IPO: Company Review, Subscription and Allotment Updates

2026-09-07 — Company overview and issue details

KANOHAR ELECTRICALS LTD IPO (ABOUT THE COMPANY)

KANOHAR ELECTRICALS LTD – COMPANY BACKGROUND

Kanohar Electricals Ltd was incorporated in the year 1972 and is engaged in the manufacture of transformers for the power industry. It caters to power transmission companies, Indian Railways, renewable energy companies and power distributors. It has two business divisions; manufacture of transformers and EPC business. IT has an RSDO certification from the Indian Railways for the manufacture of 100 MVA 132 KV Scott Transformers. It has two manufacturing facilities located at Meerut, with aggregate manufacturing capacity of 19,200 MVA.

The promoters of Kanohar Electricals Ltd are Dinesh Singhal, Adesh Singhal, Vivek Singhal, Abhishek Singhal, Virat Singhal, Aditya Singhal, and K Sons Family Trust. The IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue funds will be used for funding capex needs, funding working capital requirement, and for general corporate purposes. The OFS shares are being offered entirely by the promoter shareholders of the company. The issue is being lead-managed by Nuvama Wealth Management and IIFL Capital Services; while MUFG Intime India Private Ltd is the IPO registrar.

HIGHLIGHTS OF THE IPO ISSUE OF KANOHAR ELECTRICALS LTD

Here are the key highlights of the public issue of Kanohar Electricals Ltd.

The IPO is open from September 08th, 2026 to September 10th, 2026. It has a face value of ₹2 per share and the IPO price band has been fixed in the range of ₹601 to ₹632 per share.

The IPO of Kanohar Electricals Ltd will be a combination of a fresh issue of shares and an offer for sale of shares by the investor shareholders.

The Fresh Issue portion of the IPO comprises the issue of 47,46,835 shares (47.47 lakh shares), which at the upper price band of ₹632 per share, translates into a fresh issue size of ₹300.00 crore.

The offer for sale (OFS) portion of the IPO comprises the sale of 1,19,57,915 shares (119.58 lakh shares), which at the upper price band of ₹632 per share, translates into an OFS size of ₹755.74 crore.

Therefore, the overall IPO will comprise of the fresh issue portion and offer for sale (OFS) portion comprising of 1,67,04,750 shares (167.05 lakh shares), which at the upper price band of ₹632 per share translates into overall issue size of ₹1,055.74 crore.

Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 99.72% pre-IPO to 78.64% post-IPO.

The IPO of Kanohar Electricals Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on September 07, 2026.

KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES

Here are the key dates pertaining to the IPO of Kanohar Electricals Ltd

Data Source: Company RHP

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).

The table below captures the gist of the allocation to various categories.

Data Source: Security Parameters Filing (NSE)

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.

Here is a quick look at the lot sizes applicable for the IPO of Kanohar Electricals Ltd for various categories of investors.

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 23 shares)

FINANCIAL HIGHLIGHTS OF KANOHAR ELECTRICALS LTD

The table captures the key financials of Kanohar Electricals Ltd for last 3 financial years.

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)

Between FY24 and FY26, the net margins have expanded from 6.4% to 19.8%, while the EBITDA margins has also improved from 11.2% to 27.6%. At the same, the ROE has also improved to 34.8% in the latest year. The company has shown a consistent track record of profitability as well as improvement in key metrics including the sweating of assets.

VALUATION METRICS OF KANOHAR ELECTRICALS LTD IPO

At the IPO price of ₹632 (upper band), the stock gets discounted at a P/E ratio of 36.3X, based on the latest FY26 EPS of ₹17.43. If one were to other similar companies in the peer group, the P/E ratios are diverse, but the valuations do look reasonable considering its positioning in the industry and its established client base. Also, the RONW of Kanohar is among the best in the peer group.

Apart from the financial numbers, there are also some other areas where Kanohar Electricals Ltd has an edge. The combination of transformer manufacturing and EPC gives them the ability to offer the full suite to customers. It also has a track record for timely execution of projects, plus a special certification by the Indian Railways. Its integrated manufacturing also enable better control over quality. Investors can look at the IPO from a longer-term perspective with some valuation comfort on the table.

2026-09-07 — Anchor allocation

KANOHAR ELECTRICALS LTD IPO (ANCHOR ALLOCATION 30.00%)

BRIEF ON ANCHOR ALLOCATION OF KANOHAR ELECTRICALS LTD

The anchor issue of Kanohar Electricals Ltd saw a strong response on 07th September 2026 with 30.00% of the IPO size absorbed by anchors. Out of 1,67,04,750 shares (167.05 lakh shares) on offer in the IPO; anchors picked up 50,11,424 shares (50.11 lakh shares) accounting for 30.00% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹632 per share. This includes the face value of ₹2 per share plus a share premium of ₹630 per share. The anchor bidding opened and closed on 07th September 2026.

KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS

Here are the key details pertaining to the anchor bidding of Kanohar Electricals Ltd

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.

MAJOR ANCHOR ALLOCATION INVESTORS IN KANOHAR ELECTRICALS LTD

On 07th September 2026, Kanohar Electricals Ltd allotted 50,11,424 shares to a total of 42 anchor investors. The allocation was done at the upper IPO price band of ₹632 per share which resulted in overall anchor allocation of ₹316.72 crore. The anchors have already absorbed 30.00% of the total issue size of ₹1,055.74 crore, after factoring in the employee discount offered in the IPO, if any.

Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹169.50 crores, or, 53.52% of the overall anchor allocation of shares, one trading day ahead of the IPO of Kanohar Electricals Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.

Data Source: BSE Filings (Value Allocated is ₹ in Crore)

The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.

https://www.bseindia.com/downloads/UploadDocs/Notices/Attach/Anchor_Allocation$8c15fca1-4bd5-4093-9d80-6b8021464d42.pdf

Out of the 50,11,424 shares allocated to the anchors in the IPO, there was an allocation of 27,88,267 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 19 MF schemes of 11 asset management companies (AMC). Mutual funds accounted for 55.64% of the overall anchor allocation.

Out of the 50,11,424 shares allocated to the anchors in the IPO, there was an allocation of 5,53,840 shares made to 5 life insurance companies regulated by IRDAI, representing 11.05% of the total anchor allocation. The remaining anchor allocation was spread across FPIs, ODIs, SIFs, and alternate investment funds (AIFs).

NEXT STEPS IN KANOHAR ELECTRICALS LTD IPO

Post the closure of the IPO subscription on 10th September 2026, the basis of allotment will be finalized on 11th September 2026 and the refunds will be initiated on 15th September 2026. In addition, the demat credits are expected to also happen on 15th September 2026 and the stock will list on 16th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 15th September 2026 under ISIN (INE877D01025).

2026-09-11 — Day-3 subscription update

Kanohar Electricals Ltd (Day-3 Final Subscription at 90.59 times)

KANOHAR ELECTRICALS LTD - IPO SUBSCRIPTION STATUS ON DAY-3

As of 7.30 pm on 10th September 2026, out of the 116.93 lakh shares on offer in the IPO (excluding anchor portion), Kanohar Electricals Ltd saw bids for 10,592.89 lakh shares. This implies an overall subscription of 90.59X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Kanohar Electricals Ltd was as under:

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 30.00% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-3 of the IPO)

The IPO of Kanohar Electricals Ltd was open up to September 10, 2026, and has closed for subscription as of the close of trading hours on September 10, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹67,263.76 crore.

NEXT STEPS IN THE KANOHAR ELECTRICALS LTD IPO

Post the closure of the IPO subscription on 10th September 2026, the basis of allotment will be finalized on 11th September 2026 and the refunds will be initiated on 15th September 2026. In addition, the demat credits are expected to also happen on 15th September 2026 and the stock will list on 16th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 15th September 2026 under ISIN (INE877D01025).

2026-09-11 — Allotment guidance and next steps

Kanohar Electricals Ltd IPO (How to check allotment status)

ABOUT THE KANOHAR ELECTRICALS LTD IPO

The IPO of Kanohar Electricals Ltd opened on September 08th, 2026 and closed on September 10th, 2026. The overall IPO comprised of a fresh issue and an offer for sale (OFS) of 1,67,04,750 shares (167.05 lakh shares) worth ₹1,055.74 crore at the upper price band of ₹632 per share. The allotment status will be finalized by end of day (EOD) of September 11, 2026. Here is how to check your allotment status for the IPO of Kanohar Electricals Ltd. You can check IPO status on the BSE website or on the NSE website or on the IPO Registrar website (MUFG Intime India Private Ltd).

CHECKING THE ALLOTMENT STATUS OF KANOHAR ELECTRICALS LTD IPO ON BSE WEBSITE

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

Under Issue Type – Select Equity Option

Under Issue Name – Select Kanohar Electricals Ltd from the drop-down box

Enter the Application Number / CAF exactly as in the acknowledgement slip OR

Enter your PAN (10-digit alphanumeric) number

Once this is done, you need to click on the Captcha to verify you are not a robot

Finally click on the Search Button

You can use either of the parameters to query; Application / CAF number or Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Kanohar Electricals Ltd allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.

CHECKING ALLOTMENT STATUS OF KANOHAR ELECTRICALS LTD IPO ON NSE WEBSITE

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Once you reach the page, here are the steps to follow.

Under Issue Type – Select Equity & SME IPO Details Option

Under SELECT SYMBOL – Select KANOHAR from the dropdown box

Enter the Application Number / CAF exactly as in the acknowledgement slip AND

Enter your PAN (10-digit alphanumeric) number

Once both are entered, click on the Submit Button

You must input the Application / CAF number and the Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Kanohar Electricals Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.

CHECKING ALLOTMENT STATUS OF KANOHAR ELECTRICALS LTD ON MUFG INTIME INDIA PRIVATE LIMITED (REGISTRAR TO THE IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

There are 4 options available to you to access the allotment status, and you can use any of these options to query.

You can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). Make it a point to verify your PAN before entering.

The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.

You can use DPID-Client ID combination. For NSDL combination is alphanumeric, while for CDSL, combination is numeric. This is available in your demat statement.

You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. It is available on your cheque book.

Finally, click on the SUBMIT button.

In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to ipo.helpdesk@in.mpms.mufg.com or you can call on (0)-81081-14949 for voice call.

NEXT STEPS IN THE KANOHAR ELECTRICALS LTD IPO

Post the closure of the IPO subscription on 10th September 2026, the basis of allotment will be finalized on 11th September 2026 and the refunds will be initiated on 15th September 2026. In addition, the demat credits are expected to also happen on 15th September 2026 and the stock will list on 16th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 15th September 2026 under ISIN (INE877D01025).

Interested in applying for this IPO?

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