# Kanohar Electricals Limited: IPO analysis > Kanohar Electricals Limited (CIN U31909UP1972PLC003635) has filed a Prospectus with SEBI for an IPO comprising a fresh issue of ₹300 Cr and an offer for sale of ₹756 Cr, priced at ₹601.00 to ₹632.00 per share. In FY26 it reported revenue of ₹654 Cr (+45.1% on FY25) and a net profit of ₹130 Cr. Promoters hold 92.8% before the IPO. Our fact-check of its claims found no medium or high concerns across 66 claims checked. - Page: https://ipo.innerkore.com/company/U31909UP1972PLC003635/kanohar-electricals-limited/ - CIN: U31909UP1972PLC003635 - Last updated: 15 Sep 2026 ## Key facts - **Company:** Kanohar Electricals Limited - **CIN:** U31909UP1972PLC003635 - **Filing stage:** Prospectus - **Latest SEBI filing:** 15 Sep 2026 - **Fresh issue:** ₹300 Cr - **Offer for sale:** ₹756 Cr - **Price band:** ₹601.00 to ₹632.00 per share - **Final offer price:** ₹632.00 per share - **Lot size:** 23 shares - **Bidding opens:** 8 Sep 2026 - **Bidding closes:** 10 Sep 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹654 Cr - **Revenue growth:** +45.1% - **Net profit FY26:** ₹130 Cr - **Revenue CAGR FY24 to FY26:** 53.7% - **Promoter holding (pre-IPO):** 92.8% - **Lead managers:** Nuvama Wealth Management Limited, IIFL Capital Services Limited, IIFL Securities Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (look closer): 38.6x P/E. At the top of the band, on FY26 profit; 13.4x book value. - **Growth** (looks fine): 53.7% a year. Sales FY24 to FY26; latest year +45.1%. - **Profitability** (looks fine): 19.8% net margin. FY26; operating margin improving. - **Debt** (looks fine): 0.1x equity. ₹39 crore borrowed at the end of FY26. - **Profit into cash** (concern): 20% of profit. Operations brought in ₹25.8 crore against ₹130 crore of profit in FY26. - **One-off income** (looks fine): 5% of profit. Other and one-off income is 5% of pre-tax profit. - **Where the money goes** (look closer): 72% for sale. 28% is new shares issued by the company. - **Red flags** (looks fine): None serious. 66 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 277 | 451 | 654 | | Sales growth | – | 62.9% | 45.1% | | Operating profit | 31 | 93 | 180 | | Operating margin | 11.2% | 20.7% | 27.6% | | Net profit | 18 | 65 | 130 | | Net margin | 6.4% | 14.5% | 19.8% | | Net worth | 178 | 243 | 373 | | Borrowings | 42 | 32 | 39 | | Return on equity | 10.0% | 26.8% | 34.8% | ## Use of proceeds (fresh issue) - enhancing our sustainability initiatives by (a) setting up of solar power plants at our Manufacturing Facilities, and (b) purchasing Electric Vehicles for handling and movement at our Gangol Manufacturing Facility. 641.83# Funding the incremental working capital requirements of our Company: ₹155 crore - General corporate purposes*$: ₹56 crore ## Fact-checked claims - **NONE** (PromoterBackground): Dinesh Singhal is the Chairman and Managing Director.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Dinesh Singhal is the Chairman and Managing Director of Kanohar Electricals Limited. - **NONE** (PromoterBackground): No contingent or deferred compensation has accrued for Fiscal 2026 which would be payable to Key Managerial Personnel and Senior Management Personnel at a later date.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim made in the Draft Red Herring Prospectus for Kanohar Electricals Limited. - **NONE** (PromoterBackground): Neha is the Company Secretary and Compliance Officer and was appointed as Company Secretary and Compliance Officer pursuant to resolutions passed by the Board on August 14, 2025 and September 3, 2025, respectively.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Neha's appointment as Company Secretary and Compliance Officer. - **NONE** (PromoterBackground): Certain loans availed by the Company during Fiscal 2025 and Fiscal 2024 were from relatives of some Executive Directors and an entity in which they are associated.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim made in the DRHP concerning loans availed by Kanohar Electricals Limited from relatives of Executive Directors or associated entities. - **NONE** (PromoterBackground): Anil Girotra was resigned as a director of the Company with effect from October 8, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Anil Girotra was resigned as a director of Kanohar Electricals Limited with effect from October 8, 2025. - **NONE** (PromoterBackground): Vivek Singhal was liable to retire by rotation, and has been reappointed vide the resolution of our shareholders at the Annual General Meeting held on September 1, 2026.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Vivek Singhal's retirement and reappointment. - **NONE** (SubsidiaryPerformance): The authorized share capital was increased from ₹ 5,00,00,000 divided into 2,50,00,000 Equity Shares of ₹ 2 each to ₹ 17,00,00,000 divided into 8,50,00,000 Equity Shares of ₹ 2 each on August 27, 2025.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about the authorized share capital increase for Kanohar Electricals Limited. - **NONE** (SubsidiaryPerformance): The face value of Equity shares was subdivided from 50,00,000 equity shares of ₹ 10 each to 2,50,00,000 Equity Shares of ₹ 2 each on August 27, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the subdivision of equity shares for Kanohar Electricals Limited. - **NONE** (SubsidiaryPerformance): The Memorandum of Association was amended on August 12, 2024 to comply with table A of schedule I of the Companies Act, 2013.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the Memorandum of Association of Kanohar Electricals Limited was amended on August 12, 2024 to comply with table A of schedule I of the Companies Act, 2013. - **NONE** (SubsidiaryPerformance): Equity shares were voluntarily delisted from the Bombay Stock Exchange (BSE) with effect from July 12, 2010.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that equity shares of Kanohar Electricals Limited were voluntarily delisted from the BSE on July 12, 2010. - **NONE** (SubsidiaryPerformance): Global economic growth is projected to moderate to around 3.0% in 2026, with downside risks due to geopolitical tensions.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the projection of global economic growth for 2026 as stated in the DRHP claim. - **NONE** (SubsidiaryPerformance): Equity shares were listed on the Uttar Pradesh Stock Exchange Association Limited (U.P. Stock and Capital Limited) on October 31, 1995.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that equity shares of Kanohar Electricals Limited were listed on the Uttar Pradesh Stock Exchange Association Limited on October 31, 1995. ## Common questions ### How big is the Kanohar Electricals Limited IPO? Kanohar Electricals Limited's IPO comprises a fresh issue of ₹300 Cr and an offer for sale of ₹756 Cr, according to its Prospectus. The price band was ₹601.00 to ₹632.00 per share and the final offer price was ₹632.00 per share. ### What are Kanohar Electricals Limited's revenue and profit? Kanohar Electricals Limited reported revenue from operations of ₹654 Cr in FY26, +45.1% versus FY25. Net profit was ₹130 Cr (FY25: ₹65 Cr). Revenue grew at a compound rate of 53.7% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in Kanohar Electricals Limited? Promoters hold 92.8% of Kanohar Electricals Limited before the IPO. Largest holders listed: K Sons Family Trust$ (92.8%); 54,142,500 2 N.A. (20.0%); Kanohar International Private Limited (2.7%). ### How will Kanohar Electricals Limited use the IPO money? The fresh-issue proceeds are earmarked for: enhancing our sustainability initiatives by (a) setting up of solar power plants at our Manufacturing Facilities, and (b) purchasing Electric Vehicles for handling and movement at our Gangol Manufacturing Facility. 641.83# Funding the incremental working capital requirements of our Company (₹155 Cr); General corporate purposes*$ (₹56 Cr). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Kanohar Electricals Limited's Prospectus? We fact-checked 66 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Kanohar Electricals Limited do? The biggest red flag in the KANOHAR ELECTRICALS IPO is this: no current web search results can confirm that Adesh Singhal is actually a Whole-time Director of the company. This silence raises serious questions about the legitimacy and transparency of this offering. ### Who manages the Kanohar Electricals Limited IPO? Book running lead managers: Nuvama Wealth Management Limited, IIFL Capital Services Limited, IIFL Securities Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Kanohar Electricals Limited IPO documents? All 3 filings for Kanohar Electricals Limited (DAP, RHP, Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [KANOHAR ELECTRICALS LIMITED - PROSPECTUS](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1789450620758.pdf) (Prospectus, filed 15 Sep 2026) - [KANOHAR ELECTRICALS LIMITED - RHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/Kanohar%20Electricals%20Limited%20-%20AP_p.pdf) (Abridged prospectus (DAP), filed 3 Sep 2026) - [KANOHAR ELECTRICALS LIMITED - RHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1788412147324.pdf) (Red Herring Prospectus, filed 3 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.