Transformer manufacturer Kanohar Electricals Ltd on Thursday said its initial public offering (IPO) will open for subscription on September 8, with a price band of ₹601-632 per equity share.
The ₹1,056-crore IPO comprises a fresh issue of shares worth up to ₹300 crore and an offer-for-sale of up to 1.2 crore shares, valued at ₹756 crore at the higher end of the price band, by promoter K Sons Family Trust.
The three-day public offering will conclude on September 10, the company said in a statement.
1 August 2026
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The company plans to use ₹64.1 crore from the fresh issue towards capital expenditure requirements, including purchasing machinery and equipment for its Gangol manufacturing facility, expanding and automating backward integration facilities, civil construction and interior development of an office building, and sustainability initiatives.
Another ₹155 crore will be used to fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes.
Kanohar Electricals is one of the leading domestic transformer manufacturers by revenue in fiscal 2026 and caters to sectors including power transmission, railways, renewable energy and power distribution, according to the CARE report cited by the company.
The company operates through two segments -- transformer manufacturing and engineering, procurement and construction (EPC). Its EPC business includes turnkey projects for substations and transmission lines, as well as the installation of air-insulated and gas-insulated substations, bay augmentation and transmission lines.
Its revenue from operations rose to ₹653.83 crore in FY26 from ₹276.6 crore in FY24, while net profit increased to ₹129.7 crore from ₹17.7 crore during the same period.
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Nuvama Wealth Management and IIFL Capital Services are the book-running lead managers for the issue, while MUFG Intime India is the registrar.
