Kanohar Electricals IPO Opens Today; GMP Surges 31%, Should You Apply For Rs. 1,055 Crore IPO?

The Kanohar electrical IPO opened for subscription to the public today on Tuesday, September 8. The 1055.74 crore IPO is already getting a lot of investor attention in the grey market as the issue is trading at a 31% premium.

Kanohar Electricals IPO GMP Today

The Kanohar Electricals IPO GMP today is Rs. 196, as per the data on investorgain website. At the upper price band of Rs. 632, the estimated listing price of Rs. 828 on the current GMP and a potential listing gain of approximately 31.01% over the upper issue price, if the grey-market trend holds until listing.

Kanohar Electricals IPO Opens Today

The Kanohar Electricals IPO subscription opened on September 8 and will stay open until September 10th. Investors will be able to bid for shares during the three-day subscription window.

The IPO is worth Rs. 1,055.74 crore. It comprises a fresh issue of 47.47 lakh shares aggregating to Rs. 300 crore and an offer for sale (OFS) of 1.20 crore shares worth Rs. 755.74 crore. The company has fixed the IPO price band at Rs. 601 to Rs. 632 per share.

Kanohar Electricals IPO Lot Size And Investment

The lot size for the Kanohar Electricals IPO has been fixed at 23 shares. At the upper price band of Rs. 632, retail investors will need to invest a minimum of Rs. 14,536 for one lot. Investors can apply for additional lots in multiples of 23 shares.

Kanohar Electricals IPO Allotment, Listing Date

The Kanohar Electricals IPO allotment is expected to be finalised on September 11th. After the completion of the allotment process and related formalities, the shares are tentatively scheduled to make their debut on both the NSE and BSE on September 16th.

Should You Apply To Kanohar Electricals IPO?

According to Swastika Investmart, "Integrated transformer manufacturing and EPC capabilities support participation in large power projects. However, 83% of FY26 revenue comes from transformers, creating concentration risk. FY26 revenue grew 45% to Rs. 653.8 Cr, while PAT nearly doubled to Rs. 129.7 Cr."

"ROE 42.1%, ROCE 70.1% and low debt/equity of 0.10x indicate strong financial health. Rs. 1,818 Cr order book (2.8x FY26 revenue) provides healthy revenue visibility. Attractive Valuation: At ~34.5-36.3x FY26 EPS, valuation is reasonable versus peers, with IPO proceeds supporting expansion. Long-term investors can consider the IPO for its strong fundamentals, while it may also offer listing-gain potential, subject to market conditions," the report added.