GMP Today, Allotment Date, Subscription, Price Band and Listing Date
Kanohar Electricals IPO: The Kanohar Electricals initial public offering has emerged as one of the most closely watched IPOs in India’s primary market this week. The ₹1,055.74 crore mainboard issue attracted exceptionally strong demand from investors during its three-day bidding period, with the public issue eventually receiving bids for more than 90 times the shares on offer.
The IPO opened for subscription on September 8, 2026, and closed on September 10. The company had fixed the price band at ₹601 to ₹632 per equity share, while the minimum retail application required 23 shares, translating into a minimum investment of ₹14,536 at the upper price band.
Kanohar Electricals IPO Latest Update
Kanohar Electricals received a massive response from all three major investor categories.
According to exchange data, the issue was subscribed approximately 90.59 times overall by the end of bidding. Qualified institutional buyers recorded the strongest demand at more than 200 times, while non-institutional investors and retail investors also subscribed heavily.
The overwhelming subscription indicates strong investor interest in the company’s transformer and electrical equipment business.
The company is based in Meerut, Uttar Pradesh, and operates in the power equipment manufacturing sector. Its products are used in areas such as power transmission, distribution, railways and renewable energy.
Kanohar Electricals IPO Price Band
The company fixed the IPO price band at:
| IPO Detail | Information |
|---|---|
| IPO Name | Kanohar Electricals IPO |
| Price Band | ₹601–₹632 |
| Face Value | ₹2 per share |
| Issue Size | ₹1,055.74 crore |
| Fresh Issue | ₹300 crore |
| Offer for Sale | ₹755.74 crore |
| Lot Size | 23 shares |
| Minimum Investment | ₹14,536 |
| IPO Opening | September 8, 2026 |
| IPO Closing | September 10, 2026 |
| Allotment | September 11, 2026 |
| Listing | September 16, 2026 |
| Exchanges | NSE and BSE |
The IPO consists of a ₹300 crore fresh issue and an offer for sale worth about ₹755.74 crore. The fresh capital will go to the company, while the OFS component represents shares being sold by existing shareholders.
Kanohar Electricals IPO GMP Today
The Kanohar Electricals IPO GMP has remained strong in the grey market.
The latest available grey-market indications showed a premium of approximately ₹223 per share over the IPO’s upper price of ₹632. This represented a GMP of around 35.28% and an implied price of approximately ₹855 per share.
However, investors should remember that GMP is an unofficial and unregulated indicator. It does not guarantee the actual listing price.
If the GMP remains around ₹223 until listing, the implied market price would be:
₹632 + ₹223 = ₹855
That would represent a potential gain of around 35% over the upper IPO price.
Actual listing performance can be very different because the grey market can change rapidly depending on market sentiment, demand and broader stock-market conditions.
Kanohar Electricals IPO Subscription Status
The IPO witnessed a dramatic increase in demand during its subscription period.
By the end of the issue, total subscription was reported at around 90.59 times. The institutional portion attracted particularly strong interest.
The reported final subscription figures were approximately:
| Category | Subscription |
|---|---|
| QIB | 215.37x |
| NII | 87.74x |
| Retail | 20.51x |
| Overall | 90.59x |
Such a high subscription ratio means that retail investors are likely to face intense competition for allotment.
For retail applicants, applying for multiple lots does not necessarily guarantee an allotment. When an IPO is heavily oversubscribed, allotment is generally determined through the applicable computerized lottery process for eligible retail applications.
Kanohar Electricals IPO Allotment Date
The Kanohar Electricals IPO allotment is expected on September 11, 2026.
Investors who applied for the issue can check whether they received shares after the basis of allotment is finalized.
The registrar for the issue is MUFG Intime India, and investors can use the registrar’s IPO status facility to check their application. Allotment information can also be available through the stock exchanges.
The general timeline is:
- IPO closed: September 10
- Allotment: September 11
- Refund initiation: September 15
- Shares credited to demat accounts: September 15
- Listing: September 16
The schedule is subject to finalization by the registrar and exchanges.
How to Check Kanohar Electricals IPO Allotment Status
Investors can check their allotment status online using their application details.
The usual process involves visiting the registrar’s IPO status page and selecting Kanohar Electricals from the available issue list.
Applicants may then be required to enter details such as:
- PAN
- Application number
- DP/Client ID
- Account number or IFSC
After submitting the required information, the allotment status will be displayed if the basis of allotment has been finalized.
What Does Kanohar Electricals Do?
Kanohar Electricals is a transformer and electrical equipment manufacturer headquartered in Meerut.
The company manufactures several types of transformers, including power transformers, traction transformers, distribution transformers, Scott transformers and shunt reactors.
It also provides turnkey engineering, procurement and construction services for substations and transmission-line projects.
Its customers and end markets include the power transmission and distribution industry, railways and renewable-energy-related infrastructure.
The company operates manufacturing facilities in the Meerut region and has developed capabilities across different stages of transformer manufacturing.
Kanohar Electricals Order Book
One of the major strengths highlighted for Kanohar Electricals is its order book.
The company had an order book of approximately ₹1,818.32 crore as of March 31, 2026, according to IPO information.
A healthy order book can provide better revenue visibility, particularly when demand is supported by investment in power transmission, electricity infrastructure, railways and renewable-energy projects.
However, investors should also consider how efficiently the company converts its order book into revenue and cash flow.
How Will Kanohar Electricals Use IPO Money?
The company plans to use proceeds from the fresh issue for several corporate purposes.
According to IPO details, around ₹155 crore is earmarked for incremental working-capital requirements, while approximately ₹64.18 crore is intended for capital expenditure. The remaining amount is intended for general corporate purposes.
The working-capital component is important because manufacturing businesses can require substantial funds for raw materials, production cycles and receivables.
For an electrical equipment manufacturer handling large orders, adequate working capital can support growth and execution.
Kanohar Electricals Financial Performance
Kanohar Electricals has reported growth in its business in recent years.
IPO data indicates that the company generated approximately ₹653.83 crore in revenue in FY2026, while profit after tax stood at around ₹129.7 crore.
The company’s financial performance has attracted investor attention because demand for transformers and related power equipment is expected to remain linked to India’s expanding electricity infrastructure.
India’s increasing focus on renewable-energy integration, transmission networks, railway electrification and power distribution also provides a broader opportunity for companies operating in this segment.
However, future performance will depend on execution, raw-material costs, project timelines and customer payments.
Key Risks for Investors
Despite the strong IPO subscription and positive grey-market sentiment, investors should not ignore the risks.
One major concern is customer concentration. IPO information indicates that the company’s top 10 customers accounted for around 93.16% of revenue, which creates dependence on a relatively small group of buyers.
Another risk comes from the company’s dependence on government and utility tenders. Delays, tender cancellations or changes in government spending could affect the business.
The company is also geographically concentrated around its Meerut manufacturing facilities.
Raw-material price volatility represents another challenge. Transformer manufacturing requires materials whose prices can fluctuate, potentially affecting margins if costs cannot be passed on to customers.
Investors should also remember that a large OFS component means most IPO proceeds are going to selling shareholders rather than directly to the company.
Kanohar Electricals IPO Listing Date
The Kanohar Electricals shares are scheduled to list on September 16, 2026, on both NSE and BSE, according to the current IPO timetable.
Market participants will closely monitor the listing because of the IPO’s exceptionally high subscription and strong GMP.
However, the actual opening price may differ significantly from the grey-market indication.
The performance of the overall Indian stock market on listing day will also influence investor sentiment. A weak equity market could limit gains even when an IPO has strong subscription numbers.
Kanohar Electricals IPO: Should You Invest?
The IPO has several positive factors, including strong subscription demand, a sizeable order book, exposure to the power infrastructure sector and healthy recent financial performance.
At the same time, the high valuation and risks related to customer concentration, government tenders and raw-material costs need careful consideration.
The GMP should not be treated as a guaranteed listing-profit signal. It is unofficial and can change before the shares actually begin trading.
Investors should therefore study the company’s financial statements, IPO prospectus, valuation and risk factors before making an investment decision.
Kanohar Electricals IPO FAQs
What is the Kanohar Electricals IPO price band?
The price band has been fixed at ₹601 to ₹632 per share.
What is the Kanohar Electricals IPO lot size?
The minimum lot consists of 23 shares, requiring ₹14,536 at the upper price band.
What is the latest Kanohar Electricals IPO GMP?
The latest available grey-market indication was around ₹223, or approximately 35% above the upper IPO price. GMP is unofficial and can change.
When is Kanohar Electricals IPO allotment?
The allotment is expected on September 11, 2026.
When will Kanohar Electricals shares list?
The shares are scheduled to list on September 16, 2026, on NSE and BSE.
Final Verdict
The Kanohar Electricals IPO has generated exceptional investor interest, with the ₹1,055.74 crore issue receiving more than 90 times subscription by the end of bidding. The company’s exposure to transformers, power infrastructure, railways and renewable energy has helped attract investors.
The latest GMP also indicates strong grey-market sentiment, while the upcoming allotment and September 16 listing are now the major events investors are watching.
Still, investors should remember that IPO subscription and GMP alone do not determine long-term performance. Customer concentration, tender dependence, working-capital requirements and raw-material costs remain important factors.
For investors who applied for the issue, the immediate focus is on the Kanohar Electricals IPO allotment status, followed by the expected NSE and BSE listing on September 16.