Kanohar Electricals has set its initial public offering (IPO) price band between ₹601 and ₹632 per share. The subscription window will open on September 8 and close on September 10. The company plans to raise ₹300 crore through a fresh share issuance alongside an offer for sale (OFS), with share allocation scheduled for September 11 and listing on the stock exchange on September 16, according to livemint.com.
The IPO comprises a fresh issue of shares worth ₹300 crore and an OFS by existing shareholders. The price band was finalized ahead of the subscription opening, providing investors with a clear range for bidding. The company has disclosed key dates including the subscription period and the timeline for share allotment and listing, ensuring transparency for market participants, livemint.com reported.
This IPO is part of Kanohar Electricals’ strategy to raise capital for expansion and strengthen its market position. The ₹300 crore fresh issue is expected to support the company’s growth initiatives. The pricing band aligns with market conditions and investor appetite, reflecting the company’s valuation and sector benchmarks. Similar IPOs in the electrical manufacturing sector have seen varied subscription levels, making this offering a notable event in the current market cycle, per livemint.com.
The IPO subscription will close on September 10, with share allotment planned for September 11. The shares are set to list on the stock exchange on September 16, marking a key milestone for Kanohar Electricals. Investors will be able to track subscription status and allotment details through official exchange platforms and company disclosures, as noted by livemint.com.