Meerut-based Kanohar Electricals Ltd. has applied for an initial public offering to raise up to Rs 300 crore from a fresh issue of shares. The IPO also consists of an offer for sale by promoter K Sons Family Trust, which owns 97% pre-IPO equity stake, according to the draft red herring prospectus filed with the Securities and Exchange Board of India.
The company caters to high growth industries such as power transmission, railways, renewable energy, and power distribution. It operates in two segments: transformer manufacturing (85% of fiscal 2025 revenue) and EPC business (15%). It is one of five companies in India to have the short circuit test certification for 500 MVA 400 kV transformers that are used in the power transmission industry, which enables us to compete for large and high-value contracts.
The company operates two manufacturing facilities in Rithani and Gangol in Meerut, with an aggregate transformer manufacturing capacity of 19,200 MVA as on September, 2025.
Kanohar Electricals will use Rs 67 crore from the fresh issue to purchase new machinery and equipment for its manufacturing facility located in Gangol, Meerut, for increasing our transformer manufacturing capacity, expanding and automating our backward integration facilities and enhancing operational efficiency, civil construction and interior development of an office building at Gangol and enhancing our sustainability initiatives. As on September, the aggregate installed capacity at the Gangol manufacturing facility was 18,000 MVA.
A sum of Rs 130 crore will be utilised for funding the incremental working capital requirements of the company.
After receiving SEBI’s approval for the IPO, Kanohar Electricals will issue a red herring prospectus, followed by a public advertisement that contain details regarding IPO period, price band, valuation, etc.
Nuvama Wealth Management Ltd. and IIFL Capital Services Ltd. are the merchant bankers to the IPO.
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