The price band for the IPO has been fixed at Rs 241–254 per equity share, giving the company an implied valuation of Rs 7,790 crore to Rs 8,174 crore.
The company’s maiden public offering will remain open for subscription until September 11.
Earlier, the Mumbai-based manufacturer of solar mounting structures and tracker components for the renewable energy and transmission line sectors, mobilised Rs 262.5 crore from 14 institutional investors through the anchor book on September 8.
According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of up to 27 percent. Investorgain quoted a GMP of Rs 65 for the shares of the company, indicating a listing gain of 25.6 percent. Meanwhile, IPO Watch, quoted a GMP of 27.17 percent.
According to analysts at SBI Securities, Karamtara Engineering Ltd. (KEL) is India’s largest integrated manufacturer of solar mounting structures and tracker components by installed capacity as of FY26. The company has significant in-house manufacturing capabilities, including 276,800 MTPA of galvanizing capacity and rolling mill furnaces that produce structural steel products for the solar and transmission sectors.