TT&A is advising Nuvama Wealth Management Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited), who are acting as the book running lead managers on the initial public offering (IPO) of Kanohar Electricals Limited (Company) which includes a fresh issue of  its equity shares aggregating up to ₹ 3,000 million and an offer for sale of up to 14,590,000 equity shares by one of the promoters of the Company.

The Company operates its business in two segments, i.e., (i) transformer manufacturing; and (ii) engineering, procurement and construction.  Further, the proceeds from the IPO are proposed to be utilized by the Company for purchase of new machinery, civil construction and interior development of an office building at the Company’s manufacturing facility in Gangol, Uttar Pradesh, to increase its capacity and expand its backward integration facility, and setting up of solar power plants at its manufacturing facilities situated in Gangol and Rithani in Uttar Pradesh, for enhancing its sustainability initiatives. 

TT&A Team: Abhinav Kumar – Partner; Shubham Sancheti – Managing Associate; Ayana Banerjee – Senior Associate;  Abhishek Iyer, Akshita Sharma, Keshav Yadav and Vinit Bachwani – Associates