Karamtara Engineering IPO Day 2: Issue subscribed nearly 4x as NIIs lead; check all key details

The initial public offering (IPO) of Karamtara Engineering continues to see decent demand on its second day of subscription with a total booking of 2.22 times so far on Thursday, September 10.

Until 5 PM, the initial share sale of the firm had received bids for 9.17 crore shares as compared to 2.54 crore shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 6.16 times, while the retail individual investor (RII) segment saw 3.28 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 2.27 times.

The ₹875 crore IPO comprises a fresh issue of shares worth ₹675 crore and an offer for sale (OFS) component of up to ₹200 crore by promoters Rajiv Singh and Tanveer Singh.

“Our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including to enhance our brand image among our existing and potential customers and creation of a public market for the equity shares in India,” the company said.

The price band has been fixed at ₹241 to ₹254 per share. A lot consists of 59 shares.

The ₹875 crore IPO has a lot size of 59 shares, while the minimum investment has been set at ₹14,986 per lot at the upper end of the price band.

Karamtara Engineering IPO allotment and listing date

On September 8, the firm collected ₹262.50 crore from anchor investors such as HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, HDFC Life Insurance Company, Nippon India Mutual Fund, and SBI Life Insurance, among others.

Of the total shares allotted to anchor investors, 46.85 lakh shares, or 45.33%, were allocated to six domestic mutual fund schemes, amounting to around ₹119 crore.

Karamtara Engineering makes transmission line towers, wind energy structures, solar structures and tracker components, structural steel profiles and fasteners for India and overseas markets.

Prior to the IPO, the company mobilised ₹546 crore via multiple pre-IPO stake sales and funding rounds.

Karamtara Engineering IPO Objective

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

About the company

Karamtara Engineering is engaged in the manufacture of products that are used in the renewable energy and transmission line sectors. The company was the largest integrated manufacturer in India of solar mounting structures and tracker components in FY26, as per the F&S report. 

The company entered the wind energy business in 2025 and began production of angular towers for wind turbines in March 2025 and tubular towers for wind turbines in June 2025. It has 13 manufacturing facilities, including eight in Maharashtra, four in Gujarat and one in Italy as of March 31, 2026.

Karamtara’s largest business segment is solar products, which accounted for 78.9% of revenue from operations in FY26. As of March 31, 2026, the company had a presence in more than 50 countries, including North America, Europe, Asia, Africa, Australia and Latin America.

The company's shares are expected to be listed on both the BSE and the NSE.