Kanohar Electricals IPO To Open on Sep 8; Price Band Fixed at Rs 601–632

New Delhi: 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 Rs 601-632 per equity share.

The Rs 1,056-crore IPO comprises a fresh issue of shares worth up to Rs 300 crore and an offer-for-sale of up to 1.2 crore shares, valued at Rs 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.

The company plans to use Rs 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 Rs 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 Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24, while net profit increased to Rs 129.7 crore from Rs 17.7 crore during the same period.

Nuvama Wealth Management and IIFL Capital Services are the book-running lead managers for the issue, while MUFG Intime India is the registrar.

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