Kanohar Electricals Limited Raises Rs 316.72 Crore from Anchor Investors

Mumbai, September 07, 2026: Kanohar Electricals Limited, which is one of the leading domestic players in transformer manufacturing in terms of revenue in Fiscal 2026, has garnered Rs 316.72 crore from anchor investors ahead of its initial public offering, which opens for public subscription on 8 September, 2026.

The company informed the bourses that it allocated 50,11,424 equity shares at Rs 632 per share to anchor investors.

The anchor book saw participation from 42 leading financial institutions from India and overseas.

Some of the marquee institutions that participated in the anchor include Ashoka Whiteoak ICAV – Ashoka Whiteoak Emerging Markets Equity Fund, Allianz Global Investors Fund – Allianz India Equity, HSBC Global Investment Funds - Asia Ex Japan Equity Smaller Companies, VQ FasterCap Fund and HDFC Life Insurance Company Limited.

Amongst equity-oriented schemes, the company has allocated shares to ICICI Prudential Multi Cap Fund, Kotak Infrastructure & Economic Reform Fund and Mirae Asset Small Cap Fund.

Out of the total allocation of 50,11,424 equity shares to the anchor investors, 2,788,267 equity shares were allocated to 11 domestic mutual funds through 19 schemes.

Nuvama Wealth Management Limited and IIFL Capital Services Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.

The equity shares are proposed to be listed on the NSE and BSE Limited.

In an intimation dated 5 September, 2026, to the BSE and NSE, the company has highlighted it has received an intimation letter dated September 4, 2026, from K Sons Family Trust, the Promoter Selling Shareholder, disclosing the transfer of an aggregate of 3,164,556 equity shares at a price of ₹ 632 per Equity Share. The total consideration was nearly Rs 199.99 crore.

Prominent buyers include Motilal Oswal Financial Services Limited which purchased 316,464 shares for Rs 20 crore and Convivial Advisors LLP which purchased 158,219 shares for nearly Rs 9.99 crore. 

IPO Details
Kanohar Electricals Limited has fixed the price band of Rs 601 to Rs 632 per Equity Share of face value Rs. 2/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, September 8, 2026, for subscription and close on Thursday, September 10, 2026.

Investors can bid for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter.

The offer, with a face value of Rs 2, is a mix of fresh issue of shares up to Rs 300 crore and an offer-for-sale for up to 11,957,915 shares by promoter – K Sons Family Trust.

The proceeds from its fresh issuance worth Rs 64.1 crore will be used for funding the capital expenditure requirements of the company toward the purchase of new machinery and equipment for its Gangol manufacturing facility for increasing its transformer manufacturing capacity, expanding and automating its backward integration facilities and enhancing operational efficiency, civil construction and interior development of an office building at its Gangol manufacturing facility, and  enhancing its sustainability initiatives by setting up of solar power plants at its manufacturing facilities, and purchasing electric vehicles for handling and movement at its Gangol manufacturing facility. Also, Rs 155 crore for funding the incremental working capital requirements of the company, and general corporate purposes.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.