Kanohar Electricals Ltd., a prominent manufacturer of transformers, saw a positive start to its journey on the Indian stock exchanges today, September 16, 2026. The company's shares listed at an 8.46% premium on the National Stock Exchange (NSE) over its initial public offering (IPO) price.
Strong Market Debut
On the NSE, Kanohar Electricals stock commenced trading at Rs 685.50 per share, significantly above its IPO issue price of Rs 632. Simultaneously, on the BSE, the stock listed at Rs 672.05 per share, reflecting a 6.34 percent premium. This debut valued the company at a market capitalization of Rs 5,321.75 crore.
The Rs 1,056 crore public issue, which had a price band of Rs 601-632 per share, was open for subscription between September 8 and September 10. The offering garnered an overwhelming response from investors, being subscribed an impressive 90.59 times overall.
Investor Categories Show High Demand
Demand was particularly robust from institutional investors, with the qualified institutional buyers (QIBs) portion subscribed 215.37 times. Non-institutional investors (NIIs) also showed significant interest, subscribing their quota 87.74 times. Retail investors, too, participated actively, with their reserved portion receiving 20.51 times subscription.
Kanohar Electricals specializes in the manufacturing of transformers, serving critical sectors such as power transmission, railways, renewable energy, and power distribution across India. Nuvama Wealth Management and IIFL Capital Services acted as the book-running lead managers for the issue, with MUFG Intime India serving as the official registrar.