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Kanohar Electricals IPO fully subscribed on Day 1; check key date and category wise subscriptions

image Ahana Chatterjee
By Ahana Chatterjee

3 min read | Updated on September 08, 2026, 13:34 IST

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SUMMARY

The non-institutional investor (NII) category was subscribed 2.07 times so far, while the retail individual investor (RII) segment saw a 1.80 times subscription.

Kanohar-Electricals-IPO-day-1-subscription-status

Kanohar Electricals serves high-growth industries such as power transmission, railways, renewable energy, and power distribution. Image: Shutterstock

The domestic transformer manufacturing firm Kanohar Electricals’ initial public offering (IPO) got fully subscribed on the first day of subscription, with a total booking of 1.35 times so far on Tuesday, September 8.

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Until 1:05 PM, the initial share sale of the company had received bids for 1.57 crore shares as compared to 1.16 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 2.07 times, while the retail individual investor (RII) segment saw a 1.80 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.01 times.

The IPO is a book-built issue comprising a fresh issue of ₹300 crore and an offer for sale (OFS) of ₹756 crore. The price band has been fixed at ₹601 to ₹632 per share.

Also read: Rays of Belief shares list at par with IPO issue price on NSE; here’s what investors should know

The 1,056-crore IPO has a minimum lot size of 23 shares, and the investor would have to apply for a minimum of 1 lot.

Kanohar Electricals IPO Objective

The money raised from the IPO will be used towards the following objectives:

Capital expenditure (21.3%): The company will use ₹64.18 crore for capacity expansion and automation at the Gangol facility, office infrastructure, and sustainability initiatives, including solar power plants and EVs.
Working capital (51.6%): The company will utilise ₹155 crore for funding incremental working capital requirements.
General corporate purposes (26.9%): Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Kanohar Electricals IPO: Allotment and listing date

EventDate
Subscription periodSeptember 8 to September 10
Basis of allotmentSeptember 11
Initiation of RefundsSeptember 15
Credit of Shares to DematSeptember 15
Listing dateSeptember 16

About the company

Kanohar Electricals is one of the top domestic transformer manufacturers by revenue in FY26, serving high-growth industries such as power transmission, railways, renewable energy, and power distribution. The company operates in two business segments—Transformer Manufacturing Business and the EPC Business.

As of March 31, 2026, Kanohar Electricals is among the five companies in India that have received short-circuit test certification for 500 MVA 400 kV transformers used in the power transmission industry and have carried out testing on more than 200 ratings. 

Also read: Deepa Jewellers shares list at nearly 25% premium on NSE; here’s how much investors earned per lot

Furthermore, the company is one of the four Indian manufacturers to be certified by RDSO to manufacture 100 MVA 132 kV Scott transformers and one of the two companies to manufacture 100 MVA 220 kV Scott transformers for Indian Railways.

The company produces five categories of transformers, including power transformers, traction transformers, Scott transformers, shunt reactors and distribution transformers. As of FY26, the order book of the company amounted to ₹1,818.3 crore, as against ₹861.47 crore in FY25 and ₹595.85 crore in FY24.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

image Ahana Chatterjee
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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