Kanohar Electricals Share Price: IPO Listing Day Surge with 19% Gains
Kanohar Electricals listed on 16 Sep 2026 at an 8% premium, surged 24% intraday, and closed with ~19% gains after its ₹1,056 crore IPO was subscribed 90.6x. Strong financials (45% revenue growth, 99% PAT jump) and a ₹1,818 cr order book drove investor interest.
12 Nov 2026, 20:15 UTC
Why Kanohar Electricals Share Price Trended on 16 September 2026
The search term kanohar electricals share price spiked on Google Trends India on 16 September 2026 as the transformer manufacturer made its market debut. Investors and traders tracked the listing after a heavily oversubscribed ₹1,056 crore initial public offering (IPO). The stock opened at a premium, hit an intraday high 24% above the issue price, and closed with roughly 19% gains, making it one of the notable IPO listings of the month.source
Listing Day Performance
On the BSE, shares began trading at ₹672.05, a 6.34% premium over the IPO price of ₹632. On the NSE, the opening price was ₹685.50, up 8.46%. The stock surged to an intraday high of ₹783.95 — 24% above the offer price — before settling at ₹751.50 on the NSE and ₹751.30 on the BSE, representing about 19% listing gains. The company's market valuation stood at approximately ₹5,889 crore at the close.source source
IPO Subscription Breakdown
The public issue was subscribed 90.59 times overall, reflecting strong demand across investor categories:
| Investor Category | Subscription (times) |
|---|---|
| Qualified Institutional Buyers (QIB) | 215.37 |
| Non-Institutional Investors (NII) | 87.74 |
| Retail Individual Investors | 20.51 |
The IPO comprised a fresh issue of up to ₹300 crore and an offer-for-sale of up to 1.2 crore shares (₹756 crore at the upper price band) by promoter K Sons Family Trust. Anchor investors contributed ₹317 crore ahead of the subscription period.source source
Financial Highlights & Fundamentals
Kanohar Electricals reported a 45% year-on-year increase in total income, rising from ₹457.30 crore in FY25 to ₹662.86 crore in FY26. Profit after tax nearly doubled, climbing 99% from ₹65.12 crore to ₹129.73 crore over the same period. Key financial metrics cited by analysts include a return on equity (ROE) of 42%, return on capital employed (ROCE) of 70%, and a low debt-to-equity ratio of 0.10x. As of March 2026, the order book stood at ₹1,818 crore.source
Analyst Views & Outlook
Shivani Nyati, Head of Wealth at Swastika Investmart, noted that the company's fundamentals support a positive long-term view but cautioned that the listing was softer than grey-market estimates (which implied a price near ₹824). She suggested some profit booking may occur, with a stop-loss reference around ₹650. Dr Ravi Singh, Chief Research Officer at Master Capital Services, advised investors to monitor order-book execution, revenue growth, and margin stability as the company expands capacity.source
Use of Proceeds & Company Profile
Net proceeds from the fresh issue are earmarked for: ₹64.1 crore for capital expenditure at the Gangol manufacturing facility (machinery, backward integration automation, civil construction, sustainability initiatives); ₹155 crore for incremental working capital requirements; and the remainder for general corporate purposes. Kanohar Electricals operates two plants in Meerut, Uttar Pradesh, with a combined transformer manufacturing capacity of 19,200 MVA. It is one of only four Indian manufacturers certified by RDSO to produce 100 MVA, 132 kV Scott transformers, serving power transmission, railways, renewable energy, and power distribution sectors.source source
Note: All data reflects the listing day of 16 September 2026. Grey market premiums are unofficial and not regulated; past listing gains do not guarantee future performance.