Transformer manufacturer Kanohar Electricals Ltd has raised Rs 317 crore from anchor investors, as its Rs 1,056 crore <a href="https://www.mid-day.com/business/business-news/article/horizon-industrial-parks-garners-rs-1168-crore-from-anchor-investors-ipo-opens-on-august-17-23644943" target="_blank" rel="none noopener">Initial Public Offering (IPO)</a> opens for subscription on Tuesday.
The company informed the bourses that it allocated 50.11 lakh equity shares at Rs 632 per share to anchor investors, comprising 42 funds, according to a circular uploaded on BSE's website.
Some of the institutions that participated in the anchor round include ICICI Prudential Mutual Fund, Ashoka Whiteoak Emerging Markets Equity Fund, Allianz Global Investors Fund, HSBC Global Investment Funds, HDFC Life Insurance Company, Kotak Mutual Fund and Mirae Asset Mutual Fund and Motilal Oswal Mutual Fund.
The IPO, which opens for subscription on September 8, will conclude on September 10. The price band has been fixed at Rs 601-632 per equity share.
The Rs 1,056 crore <a href="https://www.mid-day.com/business/business-news/article/indian-firms-secure-rs-19-lakh-crore-through-ipos-in-fy26-23644071" target="_blank" rel="none noopener">IPO</a> comprises a fresh issue of shares worth up to Rs 300 crore and an offer for sale of up to 1.2 crore shares, valued at Rs 756 crore at the higher end of the price band, by promoter K Sons Family Trust.
The company plans to use Rs 64.1 crore from the fresh issue towards capital expenditure requirements, including purchasing machinery and equipment for its Gangol manufacturing facility, expanding and automating backward integration facilities, civil construction and interior development of an office building, and sustainability initiatives.
Another Rs 155 crore will be used to fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes.
Kanohar Electricals is one of the leading domestic transformer manufacturers, catering to sectors, including power transmission, railways, renewable energy and power distribution.
The company operates through two segments transformer manufacturing and <a href="https://www.mid-day.com/business/business-news/article/inox-wind-secures-100-mw-turnkey-order-from-indian-oil-corporation-for-rs-755-crore-23648140" target="_blank" rel="none noopener">Engineering, Procurement and Construction (EPC)</a>.
Its EPC business includes turnkey projects for substations and transmission lines, as well as the installation of air-insulated and gas-insulated substations, bay augmentation and transmission lines.
Its revenue from operations rose to Rs 653.83 crore in FY26 from Rs 276.6 crore in FY24, while net profit increased to Rs 129.7 crore from Rs 17.7 crore during the same period.
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The company allocated 50.11 lakh equity shares at Rs 632 per share to anchor investors, comprising 42 funds

Kanohar Electricals secures Rs 317 crore from anchor investors

Deepa Jewellers stock lists at 25 per cent premium on market debut

It allocated 50.11 lakh equity shares at Rs 632 per share to anchor investors, comprising 42 funds

Kanohar Electricals raises Rs 317 crore from anchor investors

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