Kanohar Electricals IPO gets highest bids so far as 3 issues close today

12 hours ago 1

Three mainboard IPOs — Kanohar Electricals, Glass Wall Systems (India) and Prasol Chemicals — are set to close today, with all three public issues witnessing decent demand across investor categories. Kanohar Electricals was subscribed 37.86 times, Glass Wall Systems (India) was booked 31.24 times, while Prasol Chemicals received 2.56 times subscription as of around 2.20 pm.

Subscription status

Kanohar Electricals IPO received 37.86 times subscription at 2.24 pm. The issue was subscribed 50.48 times by qualified institutional buyers (QIBs), 71.03 times by non-institutional investors (NIIs) and 16.44 times by retail investors.

Glass Wall Systems (India) IPO was booked 31.24 times at 2.21 pm. QIBs subscribed 20.10 times the portion reserved for them, while the NII and retail portions were subscribed 59.17 times and 25.64 times, respectively.

Prasol Chemicals IPO was subscribed 2.56 times at 2.21 pm. The QIB portion was subscribed 5.58 times, while the NII and retail portions were booked 1.07 times and 1.47 times, respectively.

Kanohar Electricals IPO

The ₹1,056-crore IPO comprises a fresh issue of shares worth up to ₹300 crore and an offer-for-sale of up to 1.2 crore shares, valued at ₹756 crore at the higher end of the price band, by promoter K Sons Family Trust.

The price band has been fixed at ₹601-632 per equity share.

The company plans to use ₹64.1 crore from the fresh issue towards capital expenditure requirements, including purchasing machinery and equipment for its Gangol manufacturing facility, expanding and automating backward integration facilities, civil construction and interior development of an office building, and sustainability initiatives.

Another ₹155 crore will be used to fund incremental working capital requirements, with the remaining proceeds earmarked for general corporate purposes.

Kanohar Electricals has raised ₹317 crore from anchor investors.

Glass Wall Systems IPO

Glass Wall Systems (India)’s ₹428-crore IPO has a price band of ₹172-182 per equity share.

The mainboard issue comprises a fresh issuance of equity shares worth up to ₹60 crore and an offer-for-sale of 2.02 crore equity shares by promoters Jawahar Hariram Hemrajani and Eshan Jawahar Hemrajani, and investor shareholder India Business Excellence Fund IIA.

Of the proceeds from the fresh issue, ₹50 crore will be utilised for setting up a glass processing unit as part of the company’s planned backward integration at its Vile Bhagad facility in Maharashtra.

The remaining funds will be used for general corporate purposes.

Prasol Chemicals IPO

Prasol Chemicals mobilised nearly ₹150 crore from anchor investors.

The company’s ₹500-crore IPO has a price band of ₹643-676 per equity share.

The public offer comprises a fresh issue of equity shares worth up to ₹80 crore and an offer-for-sale of shares worth up to ₹420 crore by selling shareholders.

Proceeds from the fresh issue will be used for repayment of debt, meeting working capital requirements and general corporate purposes.

All the shares will debut on bourses on September 16, 2026.