Kanohar Electricals IPO Review
Kanohar Electricals Limited, a manufacturer of transformers and an EPC service provider of substations and transmission lines in India, plans to raise ₹1,056 crore through an IPO.
[Fresh Issue ₹300 Cr + OFS ₹756 Cr]
Kanohar electricals ipo price: ₹601–₹632 per share
Kanohar Electricals: History
The Company was originally incorporated as Kanohar Electricals Private Limited under the Companies Act, 1956, on November 13, 1972.
The Company was then converted into a public limited company on November 30, 1994, under a special resolution passed by the shareholders.
Its name was subsequently changed to Kanohar Electricals Limited, and the RoC issued a fresh certificate of incorporation on December 22, 1994.
Kanohar Electricals: Business
Kanohar Electricals Ltd is one of the leading domestic players in transformer manufacturing (in terms of revenue in FY25).
It operates in two segments –
- Transformer Manufacturing Business,
- EPC Business.
The Company caters to high-growth industries such as power transmission, power distribution, railways, and renewable energy.
According to the CARE Report, Kanohar is one of 5 companies in India to hold short-circuit test certification for 500 MVA, 400 kV transformers used in the power transmission industry.
It is one of 4 manufacturers in India certified by the Research Designs and Standards Organisation (RDSO) to manufacture 100 MVA, 132 kV Scott transformers.
It is one of two Indian manufacturers certified to manufacture 100 MVA 220 kV Scott transformers (which caters to the demand for rail network electrification from the Indian Railways).
Across the Transformer Manufacturing Business and EPC Business, the company has successfully executed orders in the states of Assam, Bihar, Gujarat, Himachal Pradesh, Jharkhand, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, and Karnataka.
Manufacturing Facilities
The Company operates two manufacturing facilities with an aggregate transformer manufacturing capacity of 19,200 MVA as on March 31, 2026.
- Rithani Facility, Meerut, Uttar Pradesh,
- Gangol Facility, Meerut, Uttar Pradesh
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Strategies Ahead
Capitalize on industry tailwinds by strengthening manufacturing capabilities.
Strengthening backward integration capabilities.
Focus on new product development and technology advancements.
Commitment to robust execution standards for operational excellence.
Ensure supply chain security through adequate working capital liquidity.
Company Promoters
Dinesh Singhal,
Adesh Singhal,
Vivek Singhal,
Abhishek Singhal, Virat Singhal, Aditya Singhal, K Sons Family Trust.
Refer to Kanohar Electricals DRHP for more information.
IPO Detail
ipo date: 8 Sept – 10 Sept 2026
Minimum Amount: ₹14,536
Minimum Bid: 23 Shares
Face Value: INR 2 per share
Listing On: NSE, BSE
Financial
Book Running Lead Managers
Nuvama Wealth Management,
IIFL Capital Services
CONCLUSION
Considering financial performance and the nature of the business, FinBlab recommends ‘SUBSCRIBE‘ ratings (keeping a long-term view in mind) for the Kanohar Electricals Ltd IPO.
Do come back to learn more about “upcoming IPOs”.
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