Kanohar Electricals Limited has raised ₹1,055.7 crore from an initial public offering of equity shares, comprising a fresh issue of equity shares and an offer for sale by K Sons Family Trust, the promoter selling shareholder. The transaction drew four law firms as Kanohar Electricals IPO legal advisors, covering the issuer, the promoter trust, and the book running lead managers. IPO bidding ran from September 8 to September 10, 2026, with allotment finalised on September 11, 2026, and shares listed on NSE and BSE on September 16, 2026.
Introduction
The Kanohar Electricals IPO is a book-built issue of ₹1,055.74 crore, comprising a fresh issue of 47.47 lakh shares aggregating to ₹300 crore and an offer for sale of 1.20 crore shares aggregating to ₹755.74 crore. Verist Law advised K Sons Family Trust, the promoter selling shareholder, on the IPO. The offering also included a pre-IPO sale, pursuant to which the promoter selling shareholder sold equity shares aggregating to ₹200 crore to certain prominent long-term investors.
The book running lead managers to the IPO were Nuvama Wealth Management Ltd. and IIFL Capital Services Ltd. Kanohar Electricals Limited is engaged in transformer manufacturing and EPC activities in the power transmission and distribution sector, with its transformer manufacturing business covering transformers used in power transmission, railways, renewable energy, and power distribution.
Deal Value
The Kanohar Electricals IPO is a book-built IPO worth ₹1,055.74 crore. The price band was fixed at ₹601–₹632 per share, with the IPO open from September 8 to September 10, 2026. The company made a strong debut on the stock exchanges on September 16, 2026, with shares listing at ₹685.50, a premium of ₹53.50 or 8.46% over the IPO issue price of ₹632 per share.
Legal Teams Involved
Four firms advised across the transaction. For a broader view of deal activity in the Indian legal market, see the Deal Meter.
Trilegal — Advised Kanohar Electricals (Issuer)
Trilegal advised Kanohar Electricals on the IPO. The transaction was led by Richa Choudhary (Partner) and Murtaza Zoomkawala (Partner), with support from Rainika Malhotra (Senior Associate), Associates Rajat Chauksey, Pallavi Vuppu and Manya Sharma.
Verist Law — Advised K Sons Family Trust (Promoter Selling Shareholder)
Verist Law advised K Sons Family Trust, the promoter selling shareholder, on this IPO. Further details of the Verist Law team were not disclosed.
TT&A (Talwar Thakore & Associates) — Advised the Book Running Lead Managers
TT&A advised Nuvama Wealth Management Limited and IIFL Capital Services Limited, the book running lead managers on this IPO. The transaction team consisted of Abhinav Kumar (Partner), Shubham Sancheti (Managing Associate), Ayana Banerjee (Senior Associate), Abhishek Iyer (Senior Associate), Associates Akshita Sharma, Keshav Yadav, Yash Bhandari, Nadiya Murshed and Chinmaya Jain.
Duane Morris & Selvam — International Legal Counsel to the BRLMs
Duane Morris & Selvam served as the international legal counsel to the BRLMs. Further details of the Duane Morris & Selvam team were not disclosed.
Significance and Impact
Kanohar Electricals is one of India’s leading transformer manufacturers by revenue for Fiscal 2026, catering to high-growth sectors such as power transmission, railways, renewable energy and power distribution. The IPO is notable for the breadth of its legal advisory structure, with domestic counsel deployed at three distinct transaction levels — issuer, promoter trust, and capital markets intermediaries — alongside an international counsel mandate.
The strong market debut followed exceptional investor demand during the IPO, with the issue subscribed 90.59 times overall and the QIB portion receiving 215.37 times subscription. Kanohar Electricals’ revenue increased by 45% and profit after tax rose by 99% between the financial year ending March 31, 2026 and March 31, 2025.
The transaction also reflects the increasing complexity of Indian mainboard IPOs, where promoter trust structures and pre-IPO placements necessitate separate, specialised legal representation alongside the conventional issuer and BRLM advisory tracks.
The Kanohar Electricals ₹1,055.74 crore IPO was successfully concluded with Trilegal, Verist Law, TT&A, and Duane Morris & Selvam collectively advising across the transaction. Shares were listed on NSE and BSE on September 16, 2026. The deal underscores sustained legal advisory demand in India’s capital markets, particularly in the power infrastructure and manufacturing sectors.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
