Kanohar Electricals IPO
Capital Goods - Electrical Equipment • ₹1056cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Heavy dependence on government or PSU customers
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹601-632
Lot Size
23 shares
Issue Size
₹1056cr
Open
08 Sept 2026
Close
10 Sept 2026
Subscription
61.4×
GMP +₹240 → est. ₹872
IPO Schedule
| Issue Open Date | 08 Sept 2026 |
| Issue Close Date | 10 Sept 2026 |
| Allotment Date | 11 Sept 2026 |
| Listing Date | 16 Sept 2026 |
About Kanohar Electricals
Kanohar Electricals manufactures five custom transformer types (power, traction, Scott, shunt reactors, and distribution) across two Meerut facilities. Serving high-growth transmission, railway, and renewable sectors, it also provides turnkey substation and transmission line EPC solutions. Most revenue is driven by these core segments and secured through government and state utility tenders. 
Company Details
Founders / Promoters
Mr Dinesh Singhal
Founded
1972
Registrar
LINK
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Grey Market Premium (GMP)
Issue Price
₹632
GMP
+₹240
Est. Listing
₹872
Est. Gain
+38.0%
GMP is unofficial grey market data — not regulated by SEBI. Use only as a sentiment indicator alongside subscription data. View all IPO GMP →
Investment Analysis
Kanohar Electricals — IPOFins Verdict
QuantitativeDriven by QIB demand at 122.6x and moderate disclosed risk (6/10). The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- Strong order book standing at ₹1818.32 crores as of March 31, 2026.
- Proven track record of executing large-scale turnkey EPC projects for government entities.
- Comprehensive in-house manufacturing capabilities at the Rithani and Gangol facilities.
- Specialized product portfolio catering to high-growth sectors like railways and renewable energy.
- Successful development and short-circuit testing of advanced 500 MVA and Scott transformers
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
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FAQ
What is the price band of Kanohar Electricals IPO?
The price band is ₹601-632 per share with a lot size of 23 shares. Minimum investment: ₹14,536.
What does Kanohar Electricals do?
Kanohar Electricals manufactures five custom transformer types (power, traction, Scott, shunt reactors, and distribution) across two Meerut facilities. Serving high-growth transmission, railway, and renewable sectors, it also provides turnkey substation and transmission line EPC solutions. Most revenue is driven by these core segments and secured through government and state utility tenders. 
Should I apply for Kanohar Electricals IPO?
Kanohar Electricals is drawing strong interest at 61.4x overall subscription (QIB 122.6x, retail 17.7x) — high retail oversubscription usually means lower allotment odds per application. IPOFins Score 7/10: Driven by QIB demand at 122.6x and moderate disclosed risk (6/10). The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Kanohar Electricals?
Kanohar Electricals was founded by Mr Dinesh Singhal in 1972.