Kanohar Electricals IPO
Capital Goods - Electrical Equipment • ₹1055.74 Cr
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
₹632
Lot Size
23 shares
Issue Size
₹1055.74 Cr
Open
08 Sept 2026
Close
10 Sept 2026
Subscription
61.4×
IPO Schedule
| Issue Open Date | 08 Sept 2026 |
| Issue Close Date | 10 Sept 2026 |
| Allotment Date | 11 Sept 2026 |
| Listing Date | 15 Sept 2026 |
About Kanohar Electricals
Kanohar Electricals Limited is a company engaged in transformer manufacturing and engineering, procurement and construction (EPC) activities in the power transmission and distribution sector. Its transformer manufacturing business covers transformers used in power transmission, railways, renewable energy, and power distribution. As of March 31, 2026, the company had short circuit test certification for 500 MVA 400 kV transformers and had conducted short circuit testing for more than 200 ratings. It is also certified by the Research Designs and Standards Organisation (RDSO) to manufacture 100 MVA 132 kV Scott transformers and is certified to manufacture 100 MVA 220 kV Scott transformers for railway electrification. Through its EPC business, the company undertakes turnkey installation of air and gas-insulated substations, bay augmentation of existing substations up to 400 kV, and transmission lines across 132 kV, 220 kV, and 400 kV. Its EPC activities include design, engineering, procurement, supply, erection, testing, and commissioning of electrical infrastructure.
Company Details
Founders / Promoters
Mr Dinesh Singhal
Founded
1972
Registrar
LINK
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Kanohar Electricals — IPOFins Verdict
QuantitativeDriven by QIB demand at 122.6x and moderate disclosed risk (6/10), Kanohar Electricals listed at a premium of 8.5% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company has over 40 years of experience in transformer manufacturing and caters to power transmission, railways, renewable energy, and power distribution. It manufactures transformers across capac
- The company has short circuit test certification for 500 MVA 400 kV transformers, which it claims places it among five companies in India with this certification as of March 31, 2026. It has also cond
- The company has certifications for specialised railway transformers. It claims to be one of four manufacturers in India certified by RDSO to manufacture 100 MVA 132 kV Scott transformers and one of tw
- The company operates two manufacturing facilities in Meerut, Uttar Pradesh, with an aggregate transformer manufacturing capacity of 19,200 MVA as of March 31, 2026. The facilities have backward integr
- The company operates across both transformer manufacturing and EPC businesses, allowing it to undertake equipment supply as well as turnkey projects. Its EPC business covers substations up to 400 kV a
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → 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.
Listing Performance
Issue Price
₹632
Listing Price
₹685.5
Listing Gain/Loss
+8.47%
Listing Date
15 Sept 2026
Price Since Listing
Returns are measured against the ₹632 issue price.
Listing
₹685.5
+8.5%
1 Week
₹870.5
+37.7%
Current
₹811.15
+28.3%
Want to buy this stock?
Trade Kanohar Electricals on the secondary market
FAQ
What is the price band of Kanohar Electricals IPO?
The price band is ₹632 per share with a lot size of 23 shares. Minimum investment: ₹14,536.
What does Kanohar Electricals do?
Kanohar Electricals Limited is a company engaged in transformer manufacturing and engineering, procurement and construction (EPC) activities in the power transmission and distribution sector. Its transformer manufacturing business covers transformers used in power transmission, railways, renewable energy, and power distribution. As of March 31, 2026, the company had short circuit test certification for 500 MVA 400 kV transformers and had conducted short circuit testing for more than 200 ratings. It is also certified by the Research Designs and Standards Organisation (RDSO) to manufacture 100 MVA 132 kV Scott transformers and is certified to manufacture 100 MVA 220 kV Scott transformers for railway electrification. Through its EPC business, the company undertakes turnkey installation of air and gas-insulated substations, bay augmentation of existing substations up to 400 kV, and transmission lines across 132 kV, 220 kV, and 400 kV. Its EPC activities include design, engineering, procurement, supply, erection, testing, and commissioning of electrical infrastructure.
Should I apply for Kanohar Electricals IPO?
Kanohar Electricals listed at ₹685.5 (+8.5% premium to the ₹632 issue price) after 61.4x subscription. IPOFins Score 8/10: Driven by QIB demand at 122.6x and moderate disclosed risk (6/10), Kanohar Electricals listed at a premium of 8.5% to its issue price. 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.