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IPO ·
NSE, BSE
Karamtara Engineering Ltd
Listed
Makes transmission towers, fasteners and solar mounting structures/trackers, exporting to 50+ countries.
Issue details
Price band
₹241 – ₹254
Face value
₹10
Lot size
59 shares
Minimum investment
₹14,986
Issue size
₹875 Cr
Fresh issue
₹675 Cr
Offer for sale
₹200 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
9 Sep 2026
Closes
11 Sep 2026
UPI mandate cut-off
5:00 PM on 11 Sep 2026
Allotment
15 Sep 2026
Refunds
16 Sep 2026
Shares in demat
16 Sep 2026
Listing
17 Sep 2026
Subscription and listing
Subscription
46.38x
Listing price
₹320
Registrar
MUFG Intime India Pvt Ltd
Lead manager
JM Financial, ICICI Securities, IIFL Capital Services
Subscription by category
Total
46.38x
Total applications
26,92,374
Anchor investors
Amount raised
₹262.50 Cr
Bid date
8 Sep 2026
50% lock-in ends
14 Oct 2026
Rest lock-in ends
13 Dec 2026
Listing day
Issue price
₹254
Open
₹320.00
High
₹352.00
Low
₹320.00
Day close
₹352.00
Listing gain at open
+25.98%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,72,24,408
50.00%
Anchor Investor
1,03,34,644
30.00%
QIB (Ex. Anchor)
68,89,764
20.00%
NII
51,67,323
15.00%
bNII > ₹10L
34,44,882
10.00%
sNII < ₹10L
17,22,441
5.00%
Retail
1,20,57,086
35.00%
Total
3,44,48,817
100.00%
Finaccle’s quick read
Apply for long term
Income up 36% and PAT up 64% in FY26 with ROE of 20.8% and D/E of 0.84, but a post-issue P/E of 35.7x and thin margins make the valuation full.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Karamtara Engineering, set up in 1996, makes steel structures and hardware for the power sector: solar mounting structures and trackers, transmission-line lattice towers up to 1,200 kV, and fasteners, and has recently added wind tubular towers. Its customers are solar, wind, transmission, automotive and telecom players, and it exports to more than 50 countries. It reported total income of over ₹4,300 Cr in FY26.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
20.77%
ROCE
23.27%
Debt / equity
0.84
PAT margin
—
P/E post issue
35.72
Market cap
₹8,174.30 Cr
Use of IPO money
Repayment/prepayment of borrowings
₹600.00 Cr
General corporate purposes
₹28.39 Cr
Issue expenses
₹60.49 Cr
Strengths
✓
Largest integrated solar mounting structure maker in India
✓
One-stop supplier across solar structure needs
✓
Exports to over 50 countries
✓
In-house galvanizing capacity
✓
Experienced promoter-directors
Risks to watch
!
Borrowings nearly doubled to ₹1,030 Cr in FY26
!
Thin PAT margin around 5% of income
!
Post-issue P/E of 35.7x looks full
!
₹200 Cr OFS by promoters alongside fresh issue
!
Working-capital heavy, project-linked revenue
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.