Kanohar Electricals IPO gets highest bids so far as 3 issues close today
Kanohar Electricals IPO was 37.86 times subscribed by 2:24 PM, with QIBs at 50.48 times, NIIs at 71.03 times, and retail investors at 16.44 times
Three mainboard Initial Public Offerings (IPOs) — Kanohar Electricals, Glass Wall Systems (India) and Prasol Chemicals — saw strong demand during their closing day, receiving notable subscription rates. Kanohar Electricals' IPO was subscribed 90.59 times, the highest among the three, followed by Glass Wall Systems (India) at 81.65 times, and Prasol Chemicals at 3.30 times.
The Kanohar Electricals IPO raised ₹317 crore from anchor investors, with ₹64.1 crore earmarked for capital expenditure, including machinery and equipment acquisition, and sustainability initiatives. The company plans to use ₹155 crore for incremental working capital requirements. Glass Wall Systems (India)'s IPO raised ₹428 crore, with ₹50 crore allocated for establishing a glass processing unit.
Lastly, Prasol Chemicals raised nearly ₹150 crore, using proceeds for debt repayment and general corporate purposes. All IPOs are set to debut on the bourses on September 16, 2026.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
