New IPOs Alert: Kanohar Electricals, Madhur Iron & Steel file DRHPs with SEBI for public offers

New IPOs Alert: Transformer manufacturer Kanohar Electricals and structural steel products maker Madhur Iron & Steel (India) Ltd have filed their draft red herring prospectuses, or DRHPs, with the market regulator, the Securities and Exchange Board of India (SEBI), to raise funds via initial public offerings.

Shares of the two companies are expected to be listed on the National Stock Exchange (NSE) and the BSE.

Kanohar Electricals IPO

The proposed initial public offering of Kanohar Electricals is a mix of fresh issuance of ₹300 crore and an offer for sale (OFS) of 14,590,000 equity shares by promoter K Sons Family Trust.

The funds generated will be utilised for capital expenditure needs towards the purchase of new machinery and equity, civil construction and interior development of an office building and enhance sustainability initiatives. The money will also be used for incremental working capital requirements and general corporate purposes.

Nuvama Wealth Management and IIFL Capital Services are the issue's book-running lead managers, while MUFG Intime India is the registrar.

Kanohar Electricals is among key domestic players in transformer manufacturing in terms of revenue in the financial year 2024-25. It services high-growth industries like power transmission, renewable energy, railways and power distribution. As of September 2025, it is one of five Indian companies to have the short circuit test certification for 500 MVA 400 kV transformers that are utilised in the power transmission industry.

Madhur Iron & Steel IPO

The proposed IPO of Madhur Iron & Steel (India) Ltd is exclusively a fresh issuance of 1,00,00,000 equity shares with no OFS component.

The company is involved in the manufacturing and trading of an array of structural steel products, including channels, angles, mild steel (MS) sections and flats & rods. The firm primarily operates under a business-to-business (B2B) order-based model, supplying its products to institutional customers.

Share India Capital Services is the issue's merchant banker, while Bigshare Services serves as the registrar.