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Kanohar Electricals Plans Rs 300 Cr IPO for Expansion
27 Jan
Summary
- Kanohar Electricals Ltd. seeks to raise Rs 300 crore via IPO.
- Funds will boost transformer capacity and working capital.
- Company serves power, railways, and renewable energy sectors.
Kanohar Electricals Ltd., a Meerut-based company, is preparing for an initial public offering (IPO) aiming to raise Rs 300 crore. This public offering will include both a fresh issue of shares and an offer for sale by the promoter, K Sons Family Trust.
The capital raised will significantly support the company's growth. Approximately Rs 67 crore is earmarked for purchasing new machinery and enhancing manufacturing facilities in Gangol, Meerut, to increase transformer production capacity. An additional Rs 130 crore will be allocated to strengthen the company's incremental working capital requirements.
Operating in high-growth sectors such as power transmission, railways, and renewable energy, Kanohar Electricals has established itself in transformer manufacturing and EPC services. The company holds a critical short circuit test certification for high-capacity transformers, positioning it to secure large contracts in the power transmission industry.
