Karamtara Engineering IPO opens Sept 9; check price band, lot size and key dates

Karamtara Engineering Limited, a manufacturer of engineering steel products for the renewable energy and power transmission sectors, will launch its ₹875 crore initial public offering (IPO) on September 9. The issue, with a price band of ₹241 to ₹254 per share, will conclude on September 11.

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

Funds raised to the tune of ₹600 crore will be used for repayment of payment obligations to lenders towards borrowings. The rest will be utilised for general corporate purposes.

Karamtara Engineering IPO lot size

Retail investors can bid for a minimum of 59 shares and in multiples thereof. The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Karamtara Engineering IPO allotment and listing date

Karamtara Engineering manufactures a range of engineering steel products, including transmission line towers, solar structures and tracker components, wind energy structures, structural steel profiles and fasteners for domestic and overseas markets.

The proposed issue follows a series of primary and secondary transactions involving institutional and individual investors. The company secured ₹546 crore across multiple pre-IPO stake sales and funding rounds, suggesting investor confidence ahead of its public issue.

Private equity firm Amara Partners invested ₹75 crore in the company in July. Before this, the company raised ₹307 crore in a pre-draft red herring prospectus (DRHP) funding round in January 2025 from investors, including MNI Ventures, backed by Ranjan Pai, Singularity led by Madhusudan Kela, and industry veterans Utpal Sheth and Gaurav Trehan.

The company is expanding its manufacturing footprint with new facilities in Bhachau, Gujarat, and Saudi Arabia. It is also among the significant exporters of solar structures and tracker components to North America.

The equity shares are proposed to be listed on both the BSE and NSE on September 17.

JM Financial, IIFL Capital Services and ICICI Securities are the book-running lead managers, while MUFG Intime India is the registrar.