The Karamtara Engineering IPO will open for subscription on Wednesday, 9 September, and will close today, Friday, 11 September. The Karamtara Engineering IPO price band has been set at ₹241 – ₹254 per equity share, with a face value of ₹10 per share. The Karamtara Engineering IPO lot size is 59 equity shares, and bids can be placed in multiples of 59 shares thereafter. Karamtara Engineering IPO subscription for the public issue will open at 10:00 IST on Wednesday during the deals.
Karamtara Engineering IPO GMP today
Karamtara Engineering IPO GMP today, or grey market premium, is +68. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Karamtara Engineering share price was indicated at ₹322 apiece, which is 26.77% higher than the IPO price of ₹254.
According to grey market trends over the past six sessions, the IPO’s grey market premium (GMP) is rising today, suggesting a strong listing is anticipated. Throughout this timeframe, experts noted that the GMP fluctuated between ₹40 and ₹68.
Under the Karamtara Engineering IPO reservation structure, up to 50% of the issue size is reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The Karamtara Engineering IPO allotment is expected to be finalised on Tuesday, 15 September. The company is likely to initiate refunds on Wednesday, 16 September, while shares are expected to be credited to the demat accounts of successful allottees on the same day.
Karamtara Engineering shares will debut on both the BSE and the NSE on Thursday, 17 September.
Karamtara Engineering IPO review
BP Equities has recommended a “Subscribe” rating on the Karamtara Engineering IPO, citing the company’s strong financial growth, healthy return ratios, diversified product portfolio and backward integration. The brokerage also highlighted the favourable growth opportunities arising from the renewable energy and power transmission sectors.
SBICAP Securities has also recommended investors “Subscribe” to the issue for the long term. The brokerage noted that, at the upper price band of ₹254 per share, the IPO is valued at a FY26 price-to-earnings (P/E) multiple of 35.7x, based on the post-issue capital. It added that there are no directly comparable listed peers for the company.
Swastika Investmart said the IPO is priced at a premium to its listed peers, but highlighted the company’s strong revenue and profit growth, healthy margins, and robust ROE and ROCE as key positives. The brokerage noted that Karamtara Engineering was the largest integrated player in India by installed capacity for solar structures and trackers in FY26, with aggregate capacity of around 889,200 MTPA, including approximately 492,000 MTPA of solar capacity, equivalent to about 16.81 GW.
Swastika Investmart described Karamtara Engineering as a high-conviction proxy play on the expanding renewable energy and power transmission infrastructure sectors, particularly solar trackers and wind towers. It also pointed to the substantial deleveraging of the company’s balance sheet through the IPO proceeds, which could provide an immediate boost to earnings and support long-term growth.
Karamtara Engineering IPO details
The Karamtara Engineering IPO comprises a fresh issue of 2.66 crore equity shares worth ₹675 crore and an offer-for-sale (OFS) of 78.74 lakh shares worth ₹200 crore. In total, the public issue consists of 3.44 crore shares.
The company plans to use ₹600 crore from the fresh issue proceeds to repay borrowings, while the remaining funds will be utilised for general corporate purposes.
JM Financial is the book-running lead manager for the issue, while MUFG Intime India is the registrar to the IPO.
Karamtara Engineering IPO anchor investors
Karamtara Engineering has raised ₹262.50 crore from anchor investors ahead of the opening of its ₹875-crore initial public offering (IPO) for subscription.
The company allotted 1.03 crore equity shares to anchor investors at ₹254 apiece, the upper end of its IPO price band, according to a circular uploaded on the BSE website.
The anchor investor list includes HDFC Mutual Fund, Nippon India Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, HDFC Life Insurance Company and SBI Life Insurance.
Of the total shares allotted to anchor investors, 46.85 lakh shares, or 45.33%, were allocated to six domestic mutual fund schemes, amounting to approximately ₹119 crore.
Company details
Karamtara Engineering manufactures products for the renewable energy and power transmission industries. Its product portfolio includes solar mounting structures, fixed-tilt structures, tracker components, fasteners and overhead transmission line hardware fittings.
The company’s key competitive advantage is its backward-integrated manufacturing model. Karamtara Engineering operates in-house galvanising facilities with a capacity of 2,58,000 MTPA, which it claims is the largest in India’s solar energy sector. Its rolling mill furnaces also provide greater control over costs, supply chains and delivery timelines.
The company has reported strong financial growth in recent years. Its total income increased to ₹4,316.36 crore in FY26 from ₹3,165.36 crore in FY25 and ₹2,427.12 crore in FY24.
Profit after tax (PAT) rose 64% year-on-year to ₹228.75 crore in FY26, compared with ₹139.33 crore in FY25 and ₹102.65 crore in FY24.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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