IPO Guru
Kanohar Electricals

Kanohar Electricals IPO Review

Kanohar Electricals IPO has been reviewed by 11 analysts, and the overall consensus is Strong Apply — carrying a score of 95. Out of the 11 analysts who have covered this IPO, 9 recommend subscribing while 2 advise caution or avoidance — reflecting a mixed view from the analyst community.

The issue is priced in the band of ₹601-632 per share , with a minimum application size of 23 shares (minimum investment of approximately ₹14,536 at the upper band) . Subscription ran from 08 Sep 2026 to 10 Sep 2026. As of now, the grey market premium (GMP) for Kanohar Electricals IPO is quoting at ₹192 (30.38%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

General Review

Kanohar Electricals, set up in 1972 in Meerut, makes transformers and executes EPC work for power transmission, railways, renewable energy and distribution. It is one of only four Indian makers RDSO-certified for 100 MVA 132 kV Scott transformers. FY26 income was ₹662.86 crore with profit of ₹129.73 crore. Eight of the nine analysts said subscribe.

Listing Gains

The notes value the issue between about 36.3 and 39 times FY26 earnings, on a market cap near ₹5,005 crore, with EV to EBITDA around 27.4 times. Analysts call that fair against transmission peers such as Hitachi Energy and GE Vernova T&D, which trade far higher. That supported a positive listing view.

Short Term Strategy

Profit doubled in FY26, from ₹65.12 crore to ₹129.73 crore, with EBITDA nearly doubling to ₹180.42 crore. A ₹568.67 crore POWERGRID order won in June 2025 supports near-term execution. Fresh money funds ₹64.18 crore of capex at Gangol and ₹155 crore of working capital.

Long Term Strategy

Certification is the moat analysts credit: one of five Indian firms with short circuit test certification for 500 MVA 400 kV transformers, backed by 19,200 MVA of capacity and backward integration. The concentration they flag is heavy, with the top ten customers giving 93.16 percent of FY26 revenue and government tenders 85.37 percent.

Disclaimer: This review is an AI summary derived from the reviews of all analysts.

Analyst Sentiment

Analytical Score

How it's calculated?
Strong Apply
95 / 100

Recommend Subscribe

Based on 11 analyst reviews

9 / 11

Higher consensus indicates broader analyst agreement.

Analyst Review

Latest IPO Reviews

Frequently Asked Questions

Should I apply for Kanohar Electricals IPO?

Based on analyst coverage tracked on this page, the overall verdict for Kanohar Electricals IPO is Strong Apply. Out of 11 analysts who have reviewed this IPO, 9 recommend subscribing. Always cross-check with the full analyst reviews below and consult a SEBI-registered advisor before making any investment decision.

What does the score of 95 mean for Kanohar Electricals IPO?

The score of 95 is an aggregate of all analyst ratings tracked for Kanohar Electricals IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Scroll down to read individual analyst verdicts for more context.

What are the listing gain expectations for Kanohar Electricals IPO?

The notes value the issue between about 36.3 and 39 times FY26 earnings, on a market cap near ₹5,005 crore, with EV to EBITDA around 27.4 times. Analysts call that fair against transmission peers such as Hitachi Energy and GE Vernova T&D, which trade far higher. That supported a positive listing view.

What is the price band and lot size of Kanohar Electricals IPO?

Kanohar Electricals IPO was priced at ₹601-632 per share. The minimum lot size is 23 shares, making the minimum investment approximately ₹14,536 at the upper end of the price band. Subscription ran from 08 Sep 2026 to 10 Sep 2026.

Explore Kanohar Electricals IPO Further

Track every stage of this IPO:

Advertisement
Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.