Karamtara Engineering was incorporated on May 8, 1996. The company is a backward-integrated manufacturer for the renewable energy and transmission line sectors. As of FY24, it is India’s largest manufacturer of solar mounting structures and tracker components, offering a diverse portfolio including solar structures, fasteners, and OHTL hardware fittings
| Bidding Dates |
|---|
| 09 Sep 2026 - 11 Sep 2026 |
| Subscription |
|---|
| 62.63x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,219 | 1 | 13 | 59 | 34.4 M | ₹241 - ₹254 | 82.01 % | ₹8,302.2 M - ₹8,750.0 M | RHP DOC |
Karamtara Engineering IPO SUBSCRIPTION STATUS
11 Sep '26Karamtara Engineering IPO overall subscription rate was 62.63 times the total available shares
Karamtara Engineering IPO retail subscription rate was 13.26 times in the retail segment
Karamtara Engineering IPO non-institutional investor subscription rate was 48.55 times in the non-institutional investor category
Karamtara Engineering IPO Qualified Institutional Bidder subscription rate was 159.59 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
11 Sep 2026 (Day 3) | 13.26x | 48.55x | 159.59x |
10 Sep 2026 (Day 2) | 3.28x | 6.16x | 2.27x |
09 Sep 2026 (Day 1) | 1.07x | 1.81x | 1.2x |
Karamtara Engineering FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 4,312.0 | 228.8 | 675.1 | -247.4 | 11.6% |
| FY25 | 3,158.4 | 139.3 | 102.5 | -220.8 | 11.0% |
| FY24 | 2,425.2 | 102.7 | 40.0 | -73.6 | 10.8% |
Karamtara Engineering IPO SUBSCRIPTION STATUS DETAILS
Karamtara Engineering had 34.4 M shares on offer
Karamtara Engineering IPO offer price was in the range ₹241 - ₹254
Karamtara Engineering IPO minimum Investment was ₹14219
Karamtara Engineering IPO issue size was ₹ 8,302.2 M - ₹ 8,750.0 M
Karamtara Engineering had a minimum lot size of 59 Shares per application
Karamtara Engineering NUMBER OF SHARES ON OFFER
Karamtara Engineering IPO IMPORTANT DATES
| Issue Open Date | 09 Sep 2026 |
| Issue close Date | 11 Sep 2026 |
| Allotment Date | 15 Sep 2026 |
| Refund Date | 16 Sep 2026 |
| Demat Account Credit Date | 16 Sep 2026 |
| Listing Date | 17 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Karamtara Engineering Allotment Status | Exchange/ Registrar |
Karamtara Engineering IPO subscription opened on 09 Sep 2026, and closed on 11 Sep 2026
IPO allotment for Karamtara Engineering was finalized on Tuesday, 15 Sep 2026
IPO listing for Karamtara Engineering was on NSE and BSE on Thursday, 17 Sep 2026
Karamtara Engineering IPO LISTING GAINS
| Issue Price (adjusted) | 254.0 |
| Listing Open Price | 320.0 |
| Listing Close Price | 352.0 |
| Listing Gain% | 26.0% |
| Current Gain% | 41.2% |
Karamtara Engineering Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Karamtara Engineering Ltd. | 358.7 | 11543.8 | |||||||||||
| ABB India Ltd. | 7052.5 | 149448.4 | 50 | 11 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Bharat Heavy Electricals Ltd. | 419 | 145881 | 60 | 0.1 | 4.1 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| CG Power and Industrial Solutions Ltd. | 886 | 139586.5 | 111.7 | 4.5 | 10.9 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
| Hitachi Energy India Ltd. | 31035 | 138330.4 | 120.2 | 0.9 | 15.1 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Siemens Ltd. | 3877 | 138067.9 | 42.2 | 1.3 | 7.5 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 92 | 33.7 |
Karamtara Engineering INFORMATION ON IPO ISSUE
About Karamtara Engineering
Karamtara Engineering was incorporated on May 8, 1996. The company is a backward-integrated manufacturer for the renewable energy and transmission line sectors. As of FY24, it is India’s largest manufacturer of solar mounting structures and tracker components, offering a diverse portfolio including solar structures, fasteners, and OHTL hardware fittings
Object of the Issue
- Funding prepayment, repayment and/ or payment obligations to their lenders towards borrowings and acceptances, in part or full
- General corporate purposes
Karamtara Engineering - PROMOTERS
| Name |
|---|
| Tanveer Singh |
| Rajiv Singh |
| Inderjeet Singh |
Karamtara Engineering - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Tanveer Singh | Chairman & Managing Director |
| Rajiv Singh | Joint Managing Director |
| Sunil Kumar Rustagi | Whole-time Director & Chief Executive Officer |
| Shreyans Jitendra Shah | Whole-time Director |
| Avnish Bajaj | Independent Director |
| Tilokchand Punamchand Ostwal | Independent Director |
| Irina Garg | Independent Director |
| Shailesh Kumar Mishra | Independent Director |
Karamtara Engineering Book Running Lead Manager
JM Financial Limited
karamtara.ipo@jmfl.com
ICICI Securities Limited
karamtara.ipo@icicisecurities.com
IIFL Capital Services Limited
karamtara.ipo@iiflcap.com
Karamtara Engineering Registrar to the Offer
MUFG Intime India Private Limited
karamtara.ipo@linkintime.co.in
Karamtara Engineering Strengths
Diverse product offerings
The company serves as a one-stop shop for designing, manufacturing, and supplying solar structures, including fixed-tilt and trackers. Its diverse portfolio includes module mounting structures, tracker components, and transmission line lattice towers
Customer retention
The company has strong relationships with global customers, including OEMs, EPCs, and IPPs. As an approved supplier, it is a critical partner to leading solar energy companies worldwide
Advanced manufacturing facilities
As of September 30, 2024, the company's manufacturing facilities had an installed capacity of 567,000 MTPA (including 374,700 MTPA for solar products, approximately 13.20 GW) and 480,000 pieces. This makes it India's largest manufacturer of solar mounting structures and tracker components by installed capacity in FY24
Karamtara Engineering Risks
Liability risks
The company is subject to governmental regulations and may face significant costs or liabilities to ensure compliance. Non-compliance could lead to enforcement actions, recalls, or other adverse outcomes
Depend on third party transport
The company relies on third-party transportation for material supply and product delivery. Delays or non-performance by these providers could negatively impact its business, financial condition, cash flows, and operations
Licenses & approvals
The company must secure and maintain statutory and regulatory permits, licenses, and approvals to operate. Delays or failures in this process could adversely impact its business, financial condition, cash flows, and operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 200.0 crore, of 7,874,015 shares. It also consists of a fresh issue of Rs 675.0 crore.
The promoters of the company are Tanveer Singh, Rajiv Singh and Inderjeet Singh.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 241.0 - 254.0.
The IPO application opens on Sep 09, 2026 and closes on Sep 11, 2026.
The minimum lot size for the IPO is 59. The maximum lot size for the IPO is 767.
For all category investors, the minimum application amount for this IPO is Rs. 14,219.0, the maximum value for this IPO is Rs 194,818.0.
This IPO will be allotted on Sep 15, 2026.
The refund will be credited to your account on Sep 16, 2026.
The allotted shares will be credited to your demat on Sep 16, 2026.
Karamtara Engineering Ltd.’s shares listed on the stock exchanges on Sep 17, 2026.