The proceeds from Kanohar Electricals’ fresh issuance worth Rs 300 crore, Rs 130 crore will be used for funding the incremental working capital requirements of the company, and general corporate purpose.
Mumbai, June 25 – Uttar Pradesh-based Kanohar Electricals and Gujarat based Torrent Gas have received final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI) for their initial public offering (IPO).
Kanohar Electricals
Uttar Pradesh-based Kanohar Electricals has received SEBI final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
The Company had filed its IPO papers with Sebi on January 23, 2026. The offer, with a face
value of Rs 2, is a mix of fresh issue of shares up to Rs 300 crore and an offer-for-sale up to
14,590,000 shares by promoter – K Sons Family Trust.
The proceeds from its fresh issuance worth Rs 300 crore, Rs 130 crore will be used for
funding the incremental working capital requirements of the company, and general
corporate purpose.
The company will utilise Rs 66.7 crore in funding the capital expenditure requirements of
the company towards, purchase of new machinery and equipment for their Gangol
manufacturing facility for increasing the company’s transformer manufacturing capacity,
expanding and automating the company's backward integration facilities and enhancing
operational efficiency, civil construction and interior development of an office building at
their Gangol manufacturing facility, enhancing company’s sustainability initiatives by setting
up of solar power plants at their manufacturing facilities, and purchasing electric vehicles for
handling and movement at their Gangol manufacturing facility.
The company is one of the leading domestic players in transformer manufacturing in terms
of revenue in Fiscal 2025. The company cater to high growth industries such as power
transmission, railways, renewable energy, and power distribution as per the CARE Report.
As on September 30, 2025, the company is one of five companies in India to have the short
circuit test certification for 500 MVA 400 kV transformers that are used in the power
transmission industry (Source: CARE Report).
The company is also one of two Indian manufacturers certified to manufacture 100 MVA
220 kV Scott transformers, both of which cater to the demand for rail network
electrification from the Indian Railways as per the CARE Report.
Torrent Gas
Incorporated in 2018, Torrent Gas Limited is the city gas distribution (CGD) arm of the
Torrent Group and has done a confidential DRHP filing with SEBI. It had filed a Draft Red
Herring Prospectus (DRHP) with SEBI on March 25, 2026 to raise funds through Initial Public
Offer (IPO).
The company develops and operates CGD infrastructure to supply natural gas across 34
districts in seven states and one union territory in India. It is engaged in the distribution of
compressed natural gas (CNG) for vehicles and piped natural gas (PNG) for households,
industries, and commercial establishments. It also utilizes compressed bio-gas as part of its
operations, supporting cleaner energy adoption.
