Kanohar Electricals Shares List At ₹685.50, Gain 8.47% Over IPO Price

Mumbai, September 16: Kanohar Electricals shares made their debut on the NSE and BSE at ₹685.50 per share on Wednesday, September 16. The stock listed at a premium of ₹53.50, or 8.47%, over its IPO issue price of ₹632.

The listing came after the company’s ₹1,055.74 crore initial public offering received an overall subscription of 63.60 times. The IPO was open for bidding from September 8 to September 10, while the final allotment was completed on September 11.

Kanohar Electricals Shares Open At ₹685.50

Kanohar Electricals shares opened at ₹685.50 on the listing day, compared with the issue price of ₹632. The opening level translated into a listing gain of 8.47% for investors who received shares in the IPO.

The stock moved higher during the early trading session and touched a high of ₹783.75. It also recorded a low of ₹685.10, while the volume-weighted average price (VWAP) stood at ₹719.66.

At 10:59:31 AM IST on September 16, 2026, Kanohar Electricals shares were trading at ₹725 on the exchange. At this level, the stock was ₹39.50, or 5.76%, above its opening price.

Compared with the IPO issue price, the shares were trading ₹93 higher, representing a gain of 14.72%.

Stock Trades Above Issue Price After Market Debut

The stock’s opening price of ₹685.50 was above the IPO issue price of ₹632, indicating that the shares began trading at a premium on both the NSE and BSE.

The difference between the issue price and the opening price was ₹53.50 per share. At the market price of ₹725 recorded at 10:59:31 AM IST, the gain over the issue price had increased to ₹93 per share.

The session’s high of ₹783.75 was ₹98.25 above the opening price, while the low of ₹685.10 remained close to the listing level.

₹1,055.74 Crore IPO Included Fresh Issue And OFS

Kanohar Electricals raised ₹1,055.74 crore through a combination of fresh issue and offer for sale.

The fresh issue consisted of 47,46,835 shares, aggregating to approximately ₹300 crore. The offer for sale comprised 1,19,57,915 shares, amounting to around ₹755.74 crore.

The total issue size stood at 1,67,04,750 shares. The IPO was launched in the price band of ₹601–632 per share, with the final issue price fixed at ₹632.

IPO Subscription Reached 63.60 Times

The Kanohar Electricals IPO received bids for 63.60 times the shares offered, according to the final subscription data.

The qualified institutional buyer portion, excluding anchor investors, was subscribed 215.02 times. The non-institutional investor category received 87.52 times subscription, while the retail portion was subscribed 20.32 times.

The IPO received a total of 48,65,750 applications. The final allotment data showed that 1,67,04,750 shares were allotted across investor categories.

QIB Investors Received Half Of The Issue

Qualified institutional buyers were allocated 83,52,374 shares, representing 50% of the total issue. This included 50,11,424 shares allotted to anchor investors and 33,40,950 shares reserved for QIBs excluding the anchor portion.

The non-institutional investor category was allotted 25,05,713 shares, or 15% of the issue. Retail investors received 58,46,663 shares, accounting for 35% of the total offer.

The company had raised approximately ₹316.72 crore from anchor investors before opening the IPO for public subscription.

Minimum Retail Application Was ₹14,536

The minimum lot size for retail investors was fixed at 23 shares. At the upper price of ₹632 per share, the minimum application amount came to ₹14,536.

Investors could apply for shares in multiples of 23. Separate allocation was provided for small and big non-institutional investors under the IPO structure.

Kanohar Electricals Manufactures Transformers

Kanohar Electricals is engaged in the manufacturing of transformers and related electrical equipment. Its products and services cater to sectors such as power transmission, railways, renewable energy and power distribution.

The company operates through transformer manufacturing and engineering, procurement and construction activities. Its manufacturing facilities are located in Rithani and Gangol in Meerut, Uttar Pradesh.

As of March 31, 2026, Kanohar Electricals had an aggregate transformer manufacturing capacity of 19,200 MVA across its facilities.

Kanohar Electricals Listing Follows Strong IPO Demand

Kanohar Electricals shares started trading at ₹685.50, marking an 8.47% premium over the IPO issue price of ₹632. The stock later moved to ₹725 by 10:59:31 AM IST, taking its gain over the issue price to 14.72%.

The market debut followed an IPO subscription of 63.60 times, with participation from qualified institutional buyers, non-institutional investors and retail applicants.

Source:

• https://www.nseindia.com/get-quote/equity/KANOHAR/Kanohar-Electricals-Limited