The IPO market is experiencing a boom this year due to the release of numerous offerings, many of which have proven profitable for investors. A new stream of IPOs is emerging, some of which are already signaling significant profits even before listing and are actively discussed in the grey market.
One such IPO is Kanohar Electricals, scheduled to open on September 8th. Despite not yet being listed, its GMP has already surpassed the 200 rupee mark.
Over the week starting Monday, investors will have the opportunity to participate in 12 IPOs, all of which are retail investor offerings. Six of these offerings will open on the same day. One offering will be released on September 7th, three IPOs will open on September 8th, and six IPOs are planned for September 9th. On September 10th and 11th, one company's IPO is expected.
This refers to the Kanohar Electricals IPO, which will open to retail investors on Tuesday, September. The company manufactures transformers and operates in various sectors, including Railways and the renewable energy sector. Established in 1972, the company has demonstrated strong potential in the grey market even before the official launch.
For those planning to invest in the IPO, it is important to know the details of this offering. The size of the Kanohar Electricals IPO is 1055.74 crore rupees. Through this offering, the company will issue new shares worth 300 crore rupees, while the remaining amount of 755.74 crore rupees will be sold through an Offer For Sale (OFS).
The IPO Price Band set by the company is in the range of 601–632 rupees.
A lot of 23 shares is set for the Kanohar Electricals IPO. Calculating based on the upper limit of the price band, investors need to apply for a minimum number of shares equivalent to an investment of at least 14,536 rupees. Share allotment will take place on September 11th after the application closure on September 10th. The process of crediting shares and refunding money will be completed on September 15th, and the listing on BSE-NSE will occur on September 16th.
Even before the opening, the Kanohar Electricals IPO shows signs of high returns for its investors. Its grey market premium is currently around 33 percent. According to these calculations, each share shows a potential profit of over 200 rupees. If the shares trade at this projected GMP, an investor investing 14,536 rupees could earn a profit of about 4,800 rupees. Considering the maximum volume of 13 lots, an investment of 188,968 rupees for 299 shares could grow to 250,263 rupees, yielding a profit of 61,295 rupees.