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The IPO comprises a fresh issue of up to Rs 300 crore and an offer for sale of nearly 1.20 crore shares. At the upper end of the price band, the IPO could raise approximately Rs 1,055.74 crore. The issue will close on September 10. Investors can bid for a minimum of 23 shares and in multiples of 23 thereafter, requiring a minimum investment of Rs 13,823 at the lower end of the price band and Rs 14,536 at the upper end. The shares are proposed to be listed on the BSE and NSE. The grey market premium (GMP) for Kanohar Electricals is trading 24% higher than the issue price, indicating potentially decent gains for investors on listing day. According to the company filing, it plans to use Rs 155 crore from the fresh issue to meet incremental working-capital requirements. Another Rs 64.1 crore will fund capital expenditure at its Gangol manufacturing facility. Part of the proceeds will also support the company’s sustainability initiatives, including solar power plants at its manufacturing facilities and electric vehicles for material handling. The remaining funds will be used for general corporate purposes, it further added. Up to 50% of the net offer will be allocated to qualified institutional buyers, while at least 15% will be available to non-institutional investors and at least 35% to retail investors. The company’s revenue from operations increased to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24. Net profit rose to Rs 129.7 crore from Rs 17.7 crore during the same period. About the company Kanohar Electricals manufactures transformers for power transmission, railways, renewable energy and power distribution. It also executes engineering, procurement and construction projects involving substations and transmission lines of up to 400 kV. The company said that it is among five Indian manufacturers with short-circuit test certification for 500 MVA, 400 kV transformers. It is also certified by the Research Designs and Standards Organisation to manufacture specialised Scott transformers used in railway electrification. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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