Price band of Rs 601 – Rs 632 per Equity Share bearing face value of Rs 2 each (“Equity Shares”)
Bid/Offer Opening Date – Tuesday, September 08, 2026 and Bid/Offer Closing Date – Thursday, September 10, 2026
Minimum Bid Lot is 23 Equity Shares and in multiples of 23 Equity Shares thereafter
Mumbai, September 03, 2026: Kanohar Electricals Limited has fixed the price band of Rs 601/- to Rs 632/- per Equity Share of face value Rs 2/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on Tuesday, September 08, 2026, for subscription and close on Thursday, September 10, 2026.
Investors can bid for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter.
Equity shares outstanding as on date is 74,440,000 Equity Shares of Rs 2 each.
The offer, with a face value of Rs 2, is a mix of fresh issue of shares up to Rs 300 crore and an offer-for-sale for up to 11,957,915 shares by promoter – K Sons Family Trust.
The proceeds from its fresh issuance worth Rs 64.1 crore will be used for funding the capital expenditure requirements of the company toward the purchase of new machinery and equipment for its Gangol manufacturing facility for increasing its transformer manufacturing capacity, expanding and automating its backward integration facilities and enhancing operational efficiency, civil construction and interior development of an office building at its Gangol manufacturing facility, and enhancing its sustainability initiatives by setting up of solar power plants at its manufacturing facilities, and purchasing electric vehicles for handling and movement at its Gangol manufacturing facility. Also, Rs 155 crore for funding the incremental working capital requirements of the company, and general corporate purposes.
The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).
The company is one of the leading domestic players in transformer manufacturing in terms of revenue in Fiscal 2026. The company caters to high-growth industries such as power transmission, railways, renewable energy and power distribution (Source: CARE Report).
As of March 31, 2026, the company is one of five companies in India to have short-circuit test certification for 500 MVA, 400 kV transformers that are used in the power transmission industry (Source: CARE Report). The company conducts short-circuit testing of its transformers at a scale and, as of March 31, 2026, have tested over 200 ratings.
The company is one of four manufacturers in India certified by the Research Designs and Standards Organization (RDSO), the research and development wing of Indian Railways, to manufacture 100 MVA, 132 kV Scott transformers. The company is also one of two Indian manufacturers certified to manufacture 100 MVA, 220 kV Scott transformers, both of which cater to the demand for rail network electrification from Indian Railways (Source: CARE Report).
Through the company's backward-integrated facilities, it offers a wide range of products and solutions for India's energy infrastructure, particularly in transformer manufacturing, supported by its in-house technology.
The company operates its business through two segments - transformer manufacturing business and EPC Business.
In its EPC business, the company undertakes engineering, procurement and construction projects in the power transmission and distribution sector, in addition to their transformer manufacturing operations. This enables them to execute turnkey projects for substations and transmission lines.
The company also undertakes turnkey installation of air-insulated and gas-insulated substations, bay augmentation in existing substations of up to 400 kV class, and installation of transmission lines across 132 kV, 220 kV and 400 kV.
The company's EPC projects typically involve the design, engineering, procurement, supply, erection, testing and commissioning of electrical infrastructure.
The company has over 40 years of experience in its transformer manufacturing business. As a part of its transformer manufacturing business, it manufactures five different types of transformers with customized technical specifications to address the energy needs of industries to which we cater, which include power transmission, railways, renewable energy and power distribution.
The company’s revenue from operations was Rs 653.83 crore in FY26 as against Rs 276.6 crore in FY24. Its net profit was Rs 129.7 crore in FY26 as against Rs 17.7 crore in FY24.
Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the Offer. The equity shares are proposed to be listed on NSE and BSE.
Kanohar Electricals Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated 2026, with the RoC. The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM https://www.iiflcapital.com/, and https://www.nuvama.com/ the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https://www.kanohar.com/.
Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 18 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the securities are not being offered or sold in the United States.
Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Issue or the specified securities stated in the Offer Documents. The investors are advised to refer to page 428 of the RHP for the full text of the disclaimer clause of SEBI.
Disclaimer Clause of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to page 431 of the RHP for the full text of the disclaimer clause of BSE.
Disclaimer Clause of NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE, nor does it certify the correctness or completeness of any of the contents of the Issue Document. The investors are advised to refer to page 431 of the RHP for the full text of the disclaimer clause of NSE.
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