2 hrs ago
Kanohar Electricals Shares Debut Over 8% Above IPO Price
Kanohar Electricals makes transformers used in power and railway projects.
It sold shares to the public through an IPO.
The IPO price was ₹632 per share.
Many investors wanted to buy the shares, so the issue was subscribed 90.59 times.
When trading began, the shares opened higher than the IPO price.
They rose 6.33% on the BSE and 8.46% on the NSE.
The company raised ₹1,056 crore through the IPO.
It plans to use some of the money to buy equipment, improve its factory and support its daily business needs.
Kanohar Electricals shares listed at ₹672.05 on the BSE and ₹685.50 on the NSE, compared with the ₹632 IPO price.
The stock debuted at a 6.33% gain on the BSE and an 8.46% premium on the NSE.
The ₹1,056-crore IPO was subscribed 90.59 times, attracting more than 49.23 lakh applications.
Qualified institutional buyers subscribed to their reserved portion 215.37 times, while retail investors subscribed 20.51 times.
The company plans to use fresh-issue proceeds for machinery, automation, working capital, sustainability initiatives and general corporate purposes.
- Who
- Kanohar Electricals Ltd, a transformer manufacturer, and investors in its IPO.
- What
- The company’s shares made a strong stock-market debut above their ₹632 IPO issue price.
- Where
- The shares debuted on the BSE and NSE; the company is based in India and the report is datelined Mumbai.
- When
- The shares listed on Wednesday after the IPO’s September 8–10 subscription period.
- Why
- The listing followed strong investor demand, with the IPO subscribed 90.59 times overall.
Key facts
- IPO size
- ₹1,056 crore
- IPO price band
- ₹601–₹632 per share
- Issue price
- ₹632 per share
- BSE listing
- ₹672.05, up 6.33%
- NSE listing
- ₹685.50, up 8.46%
- Overall subscription
- 90.59 times
- Post-listing market capitalisation
- ₹5,889.12 crore
- Anchor investment
- ₹317 crore raised before the public issue
Sources
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