Kanohar Electricals IPO 2026: Price Band, GMP, Dates & Full Review

By Kaushik Brahmakshatriya

Published on 08 September 2026.

Kanohar Electricals IPO

The Kanohar Electricals IPO has become one of the most talked-about mainboard IPOs of September 2026, and investors across India are rushing to check every detail before the subscription window closes. Kanohar Electricals Limited, a Meerut-based transformer manufacturer with more than five decades of industry presence, is raising ₹1,055.74 crore through this book-built issue. With strong grey market buzz, a solid business model in power transmission and railways, and a listing gain expectation of over 30%, the Kanohar Electricals IPO is drawing heavy retail and institutional interest. In this article, we break down the price band, key dates, GMP trend, financials, and answer the most common investor questions.

Understanding the Company

Kanohar Electricals Limited was originally incorporated in November 1972 and has grown into a key player in India’s power infrastructure ecosystem. The company runs two manufacturing facilities in Meerut, Uttar Pradesh, with a combined transformer capacity of around 19,200 MVA. It operates across two business verticals — transformer manufacturing, which contributes the bulk of revenue, and Engineering, Procurement and Construction (EPC) services. Its transformers serve power transmission, railways, renewable energy, and power distribution clients, making it a critical vendor for India’s expanding energy infrastructure.

Kanohar Electricals IPO Key Details

The Kanohar Electricals IPO opened for subscription on September 8, 2026, and will close on September 10, 2026, with allotment expected to be finalized on September 11, 2026. The issue is priced in a band of ₹601 to ₹632 per share, with a lot size of 23 shares, meaning retail investors need a minimum investment of roughly ₹14,536. The IPO combines a fresh issue worth ₹300 crore with an offer for sale worth ₹755.74 crore, and shares are expected to list on both BSE and NSE around September 16, 2026. Nuvama Wealth Management is the book-running lead manager for the issue.

Kanohar Electricals IPO Grey Market Premium Trend

Grey Market Premium (GMP) is an unofficial, unregulated indicator of listing-day demand and should never be the sole basis for an investment decision. That said, the Kanohar Electricals IPO GMP has stayed strong through the run-up to listing, moving in a range of roughly ₹150 to ₹211 over the past week, with the most recent readings hovering close to ₹185–₹205. At the upper price band of ₹632, this GMP range translates into an estimated listing price of around ₹800 to ₹840, implying potential listing gains in the 29% to 33% zone. Investors should track GMP daily since it can swing sharply right up to the listing date based on overall market sentiment and subscription numbers.

Valuation, Financial Performance & IPO Objectives

At the upper price band, the company is valued at a post-issue P/E of about 38.58 times, with an EPS of ₹16.38 and a return on net worth near 34.80%, giving it a market capitalisation of roughly ₹5,004 crore. Notably, a large portion of the issue proceeds — nearly 72% — comes from the offer for sale by the promoter’s family trust, while the fresh issue funds will go toward debt repayment, working capital requirements, and general corporate purposes, including expansion at the company’s manufacturing facility.

FAQs on Kanohar Electricals IPO

Q1. What is the price band of the Kanohar Electricals IPO?

The price band is fixed at ₹601 to ₹632 per equity share.

Q2. What is the lot size for the Kanohar Electricals IPO?

The minimum lot size is 23 shares, requiring an investment of about ₹14,536 for retail investors.

Q3. When will Kanohar Electricals IPO list on the stock exchange?

The tentative listing date is September 16, 2026, on both BSE and NSE.

Q4. What is the current GMP of Kanohar Electricals IPO?

The GMP has recently ranged between ₹150 and ₹211, indicating a possible listing gain of around 30%.

Q5. What does Kanohar Electricals Limited do?

It manufactures power, traction, and distribution transformers and also offers EPC services for power infrastructure projects.

Conclusion

The Kanohar Electricals IPO stands out due to its strong grey market premium, established transformer manufacturing business, and exposure to India’s growing power infrastructure demand. While the GMP trend and valuation look promising, investors should always study the company’s financials, industry risks, and RHP details rather than relying only on grey market signals before applying. Keep tracking this space for the latest subscription status and allotment updates

.Disclaimer: GMP figures are unofficial, unregulated, and subject to change. This article is for informational purposes only and not investment advice.