Kanohar Electricals IPO Day 3: Check subscription status, allotment date and steps

The initial public offering of transformer maker Kanohar Electricals Ltd will conclude on Thursday, September 10. The subscription details will be available post 10 am.

As of Day 2, the issue was subscribed 10.22 times. It received bids for 11,95,22,444 shares against 1,16,93,326 shares on offer, as per data available with the NSE.

The portion for non-institutional investors received 19.22 times subscription, while the retail portion was booked 8.49 times. The quota for qualified institutional buyers (QIBs) fetched 6.50 times subscription.

The company's ₹1,055.74 crore IPO comprises a fresh issue of shares worth ₹300 crore and an offer-for-sale of ₹755.74 crore by promoter K Sons Family Trust.

The company intends to utilise ₹64.1 crore from the fresh issue towards capital expenditure needs, including purchasing machinery and equipment for its Gangol manufacturing plant, expanding and automating backward integration facilities, civil construction and interior development of an office building, and sustainability initiatives.

Another ₹155 crore will be utilised to fund incremental working capital requirements, with the rest to be used for general corporate purposes.

With a price band of ₹601 to ₹632 per share, a lot consists of 23 shares.

Kanohar Electricals Ltd is a leading domestic transformer manufacturer, catering to sectors, including railways, power transmission, renewable energy and power distribution.

The company operates through two segments – transformer manufacturing and engineering, procurement and construction (EPC) projects.

Its EPC business includes turnkey projects for substations and transmission lines and installation of air-insulated and gas-insulated substations, bay augmentation and transmission lines.

Kanohar Electricals IPO: Allotment and listing date

The basis of allotment of Kanohar Electricals Ltd is likely to be finalised on Friday, September 11. The company's shares will be listed on the NSE and the BSE on September 16.

How to check Kanohar Electricals IPO allotment status on NSE

• Open this link in your browser: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick the 'Equity & SME IPO bid details' option
• Choose 'KANOHAR' from the 'Select Symbol' list
• Submit your Permanent Account Number or application number
• Press the 'Submit' button

Steps to check Kanohar Electricals IPO allotment status on MUFG Intime India

• Head to the registrar's allotment status page: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Select ‘Kanohar Electricals Limited’ from the IPO names
• Type in: PAN, DP/Client ID, Application No, or Account No/IFSC
• Click on the 'Submit' button