Kanohar Electricals IPO GMP Today and Kostak Price
Kanohar Electricals IPO Grey Market Premium (GMP) today stands at ₹ 140, showing healthy interest from investors in the grey market. The Kostak rate is currently not available, while the Subject to Sauda price is quoted at currently not available. On 3 September 2026, the IPO GMP recorded a high of ₹140 and a low of ₹140 on 3 September 2026, reflecting positive market momentum. You can check the day-wise GMP trend below to track price movement and investor sentiment over time.
Kanohar Electricals IPO is scheduled to open for subscription on September 8, 2026. The public issue aims to raise around ₹1055.74 Cr. and is offered in a price band of ₹601 to ₹632 per share, with a market lot of 23 shares. Investors are closely watching subscription data and grey market trends ahead of the listing.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 03 Sep 2026 | ₹ 140 | 22.15% | ₹ 0 | ₹ 0 |
Kanohar Electricals IPO Dates
| Event | Date |
|---|---|
| Open Date | 08 Sep, 2026 |
| Close Date | 10 Sep, 2026 |
| Allotment Date | 11 Sep, 2026 |
| Refund Date | 15 Sep, 2026 |
| Credit to Demat | 15 Sep, 2026 |
| Listing Date | 16 Sep, 2026 |
Kanohar Electricals IPO Expected Listing Price
| Basis | Value |
|---|---|
| Issue Price (Upper Band) | ₹632 |
| Current GMP | ₹ 140 |
| GMP-Based Listing Estimate | ₹772 (+22.2%) |
| Listing Date | 16 Sep, 2026 |
Disclaimer: The listing price estimate above is based purely on the current grey market premium (GMP) and is not a guaranteed prediction. GMP is an unofficial, unregulated indicator and can change significantly in the 24–48 hours before listing. Do not make investment decisions based solely on GMP.
Is Kanohar Electricals IPO GMP Reliable?
Grey market premium for Kanohar Electricals IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Kanohar Electricals IPO full review for a fundamentals-based assessment before making any grey market trades.
Kanohar Electricals IPO IPO Kostak Rate Explained
The Kostak rate for Kanohar Electricals IPO is currently not active. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price has not been quoted yet. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Kanohar Electricals IPO
The company works through two segments. One is transformer manufacturing and the other is engineering, procurement and construction, usually called EPC, where it takes up complete project work rather than only supplying equipment.
It is one of only four manufacturers in India certified by the Research Designs and Standards Organisation, which is the research arm of Indian Railways, to make 100 MVA 132 kV Scott transformers. These are the special transformers used for railway traction. It runs two plants, both in Meerut in Uttar Pradesh, one at Rithani and one at Gangol, with a combined transformer making capacity of 19,200 MVA as on 31 March 2026. It has five regional offices in Delhi, Mumbai, Kolkata, Bangalore and Chennai and a team of more than 526 employees.
Strengths & Risks
Strengths
- ✓ Profit has grown more than seven times in two years, from Rs 17.76 crore in FY2024 to Rs 65.12 crore in FY2025 and Rs 129.73 crore in FY2026.
- ✓ Sales have more than doubled over the same period, from Rs 281.12 crore in FY2024 to Rs 662.86 crore in FY2026, a rise of 45% in the last year alone.
- ✓ EBITDA went up nearly six times, from Rs 31.07 crore in FY2024 to Rs 180.42 crore in FY2026.
- ✓ Return ratios are excellent, with RoCE of 47.61% and RoNW of 26.78%, and the PAT margin was 14.24%.
- ✓ The company is almost debt free. Total borrowing was Rs 39.04 crore against a net worth of Rs 372.84 crore as on 31 March 2026.
- ✓ Being one of only four RDSO certified makers of 100 MVA 132 kV Scott transformers is a real entry barrier, as that approval takes years to obtain.
- ✓ It has a long record of more than 50 years, having started in 1972, with two plants and 19,200 MVA of capacity.
- ✓ Demand is supported by grid expansion, railway electrification and renewable energy projects, all of which need transformers.
Risks
- ⚠ The issue is priced high on earnings. At the upper band of Rs 632 the P/E is about 38.58 times on an EPS of Rs 16.38.
- ⚠ The profit jump is very recent. Profit after tax went up 99% in FY2026 alone, off a small base of Rs 17.76 crore two years earlier, and that pace is hard to keep up.
- ⚠ Sales depend on government and utility spending. Orders come through tenders, so a slow year in state electricity board or railway ordering directly hits the order book.
- ⚠ Rs 155 crore of the issue money goes into working capital, which shows how much cash a transformer order book ties up between raw material and payment.
- ⚠ Copper and CRGO steel are the main raw materials. Both are volatile, and a sharp rise on a fixed price order eats straight into margin.
- ⚠ Both plants are in Meerut in Uttar Pradesh, so any problem at that one location affects all production.
- ⚠ This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
- ⚠ Utility and railway customers usually pay slowly, and promoter holding falls from 99.72% to 78.64% after the issue.
Frequently Asked Questions about Kanohar Electricals IPO
What is the GMP of Kanohar Electricals IPO?
The current Grey Market Premium (GMP) of Kanohar Electricals IPO is ₹ 140.
What is the Kostak Price of Kanohar Electricals IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Kanohar Electricals IPO is currently not available.
What is the Subject to Sauda Price of Kanohar Electricals IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What is the expected listing price of Kanohar Electricals IPO based on GMP?
Based on the current GMP of ₹ 140, Kanohar Electricals IPO is expected to list around ₹772 — approximately +22.2% above the issue price of ₹632. Grey market prices can shift before listing — treat this as an estimate only.
Is the GMP of Kanohar Electricals IPO increasing or decreasing?
The GMP of Kanohar Electricals IPO is currently stable. Track the day-wise GMP table above for the latest movement.
Explore Kanohar Electricals IPO Further
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