Kanohar Electricals IPO opened for subscription on Tuesday, 8 September, and will close on Thursday, 10 September. The Kanohar Electricals IPO price band is set at ₹601– ₹632 per equity share, with a face value of ₹2 per share. The Kanohar Electricals IPO lot size is 23 equity shares, with investors allowed to bid in multiples of 23 shares thereafter.
Kanohar Electricals IPO GMP today, or grey market premium, is +225. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kanohar Electricals share price was indicated at ₹857 apiece, which is 35.60% higher than the IPO price of ₹632.
Following the grey market movements observed over the past 11 sessions, the IPO's GMP is trending upward today, suggesting optimism for a robust listing. Throughout this timeframe, the GMP fluctuated between ₹0.00 and ₹225, according to experts.
The company has received bids for 24,45,65,072 shares against 1,16,93,326 crore shares, 12:57 IST, as per BSE data.
Kantilal Chhaganlal Securities said Kanohar commands a premium valuation over Transformers & Rectifiers (India), but believes the premium is justified by its significantly stronger recent revenue and EBITDA growth. The brokerage noted that the company’s in-house manufacturing and integrated capabilities could support better quality control, execution efficiency and scalability as transformer demand rises. It expects investments in power transmission and distribution, renewable energy integration, railway electrification and grid modernisation to drive sustained demand for transformers. Kantilal Chhaganlal Securities recommends subscribing to the issue with a long-term investment horizon.