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Karamtara IPO Oversubscribed 62x
11 Sep
Summary
- Karamtara Engineering's IPO saw 62.63 times subscription.
- The company plans to repay Rs 600 crore in borrowings.
- It is India's largest integrated solar mounting structure manufacturer.
Karamtara Engineering's Initial Public Offering (IPO) closed on September 11, 2026, with an overwhelming subscription of 62.63 times. The issue received bids for 159.17 crore shares against the 2.54 crore shares available. The price band for the IPO was set between Rs 241 and Rs 254 per share.
The company, a prominent integrated manufacturer of solar mounting structures and tracker components in India, aims to allocate Rs 600 crore from the fresh issue proceeds towards the prepayment of outstanding borrowings. The remaining funds will support general corporate purposes.
Karamtara Engineering boasts a diverse product portfolio, including solar module mounting structures, transmission towers, and fasteners. The company has a significant global footprint, exporting to over 50 countries, with the US being a major market. It operates 13 manufacturing units across India and Italy.
The company also raised Rs 262.49 crore from anchor investors on August 8, 2026, by allotting 1.03 crore shares at Rs 254 each. For the twelve months ending March 31, 2026, Karamtara Engineering reported a consolidated net profit of Rs 228.76 crore on sales of Rs 4,311.98 crore.
