Kanohar Electricals Powers Up For IPO, Raises ₹317 Crore From Anchor Investors Ahead Of Subscription Opening
New Delhi: Transformer manufacturer Kanohar Electricals Ltd has raised Rs 317 crore from anchor investors ahead of its Rs 1,056 crore initial public offering (IPO), which opened for subscription on Tuesday, September 8. The company allotted 50.11 lakh equity shares to 42 anchor investors at Rs 632 apiece, according to a circular uploaded on the BSE website. The anchor book attracted several…
Kanohar Electricals Ltd, a transformer manufacturer, has successfully raised ₹317 crore from anchor investors ahead of its Rs 1,056 crore initial public offering (IPO). The company allotted 50.11 lakh equity shares to 42 anchor investors at Rs 632 apiece. The IPO will open for subscription on September 8, with a price band of Rs 601-Rs 632 per share.
Kanohar Electricals plans to allocate a portion of the IPO proceeds towards capital expenditure, working capital requirements, and general corporate purposes. The company's revenue has more than doubled from ₹276.6 crore in FY24 to ₹653.83 crore in FY26, indicating strong growth.
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- Kanohar Electricals raises ₹317 crore from anchor investors; IPO opens for subscription thehindubusinessline.com
