Kanohar Electricals IPO Day 3: GMP Indicates 35% Premium as Subscription Soars Past 190x!

The Kanohar Electricals IPO has generated significant investor interest, evidenced by a remarkable overall subscription rate of 190.59 times against the 1.16 crore shares on offer. The bidding for this book-built issue, valued at Rs 1,055.74 crore, commenced on September 8, 2026, and concluded on September 10, 2026. With a price band set between Rs 601 and Rs 632 per share and a minimum investment of Rs 14,536 for one lot (23 shares), the IPO has attracted a specific focus from retail investors, who subscribed their portion 20.51 times, indicating robust demand in this segment.

Furthermore, the grey market sentiment around the Kanohar Electricals IPO remains optimistic, with a current Grey Market Premium (GMP) of Rs 223 per share—approximately 35% above the upper price band. This suggests an anticipated listing price of around Rs 855 per share, indicating the potential for strong gains upon market debut on the NSE and BSE, scheduled for September 16, 2026. The healthy subscription rates across all investor categories, including Qualified Institutional Buyers (QIBs) at 215.37 times, imply widespread confidence and demand for the IPO.

For Indian investors, this IPO represents a strategic entry point into an essential sector, particularly in the context of the rising investments in power transmission and distribution. As highlighted by various analysts, while the valuation is at a premium, it reflects Kanohar’s exceptional growth trajectory and strong profitability. The recommendations to subscribe for both short and long-term portfolios underscore a favorable outlook for investors willing to engage with this promising opportunity amidst the ongoing transformation in the energy sector.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)