Karamtara Engineering IPO: Price Band, Lot Size, Financials & Review
Karamtara Engineering IPO listed on BSE & NSE on Thu, 17 Sep 2026. The issue was subscribed 66.01x overall.
- Open Date
- 9 Sep 2026
- Close Date
- 11 Sep 2026
Last updated
- Price band
- ₹241 – ₹254
- Lot size
- 59 shares
- Min. investment
- ₹14,986
- Issue size
- ₹875 Cr
- Last GMP
- +₹48
- Subscribed
- 🔥 66.01x
Karamtara Engineering IPO details
Karamtara Engineering IPO is a ₹875 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹675 Cr (77.14%) with an offer for sale of ₹200 Cr (22.86%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Wed, 9 Sep 2026 to Fri, 11 Sep 2026. Allotment was finalised on Tue, 15 Sep 2026, and the shares listed on BSE & NSE on Thu, 17 Sep 2026.
The price band is ₹241 to ₹254 per share and the lot size is 59 shares, so the minimum retail application is ₹14,986. Retail investors can apply for up to 13 lots (767 shares, ₹1,94,818).
MUFG Intime India Pvt Ltd is the registrar, and IIFL Capital Services Limited, ICICI Securities Limited and JM Financial Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last Karamtara Engineering IPO GMP before listing was +₹48 (+18.90% against the upper price band of ₹254), implying an estimated listing price of ₹302. Across 10 days of tracking, GMP ranged from +₹48 (16 Sep) to +₹75 (09 Sep).
| Last GMP | +₹48 |
|---|---|
| GMP vs upper band | +18.90% |
| Estimated listing price | ₹302 |
| Highest (09 Sep) | +₹75 |
| Lowest (16 Sep) | +₹48 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Karamtara Engineering IPO day-wise GMP.
Subscription
Day-wise subscription →Karamtara Engineering IPO was subscribed 66.01x overall: QIB 168.19x, NII 51.17x and retail 13.98x.
| Category | Subscribed |
|---|---|
| QIB | 168.19x |
| NII | 51.17x |
| └ bNII (above ₹10 lakh) | 53.83x |
| └ sNII (₹2–10 lakh) | 45.83x |
| Retail | 13.98x |
| Total | 66.01x |
Final figures at the close of bidding on 11 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Karamtara Engineering IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 1,03,34,644 | 30.00% |
| Qualified Institutions | 68,89,765 | 20.00% |
| Non-Institutional | 51,67,323 | 15.00% |
| └ BNII | 34,44,882 | 10.00% |
| └ SNII | 17,22,441 | 5.00% |
| Retail Investors | 1,20,57,086 | 35.00% |
| Total | 3,44,48,818 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Karamtara Engineering IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,986 |
| Retail (Max) | 13 | 767 | ₹1,94,818 |
| S-HNI (Min) | 14 | 826 | ₹2,09,804 |
| S-HNI (Max) | 66 | 3,894 | ₹9,89,076 |
| B-HNI (Min) | 67 | 3,953 | ₹10,04,062 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹675 Cr (77.14%) with an offer for sale of ₹200 Cr (22.86%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹254, the issue is priced at 32.77x pre-issue earnings and 35.72x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Promoter holding falls from 94.79% before the issue to 83.64% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹7.75 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 32.77x |
| EPS (post-issue) EPS on the enlarged share capital | ₹7.11 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 35.72x |
| Promoter holding (pre-issue) | 94.79% |
| Promoter holding (post-issue) | 83.64% |
Karamtara Engineering Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹3,165.36 Cr to ₹4,316.36 Cr, and profit after tax rose from ₹139.33 Cr to ₹228.75 Cr. The PAT margin for 31 Mar 2026 was 5.30%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 4,142.24 | 2,762.59 | 1,844.56 |
| Total Income | 4,316.36 | 3,165.36 | 2,427.12 |
| Profit After Tax | 228.75 | 139.33 | 102.65 |
| EBITDA | 498.11 | 346.83 | 262.93 |
| Net Worth | 1,219.40 | 982.67 | 552.92 |
| Reserve & Surplus | 926.55 | 690.53 | 547.46 |
| Total Borrowings | 1,030.13 | 556.28 | 508.51 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 20.77 | 18.13 | 20.45 |
| ROCE % | 23.27 | 23.30 | 24.15 |
| Debt / Equity | 0.84 | 0.57 | 0.84 |
| RoNW % | 20.78 | 18.15 | 20.47 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding prepayment, repayment and/ or payment obligations to our lenders towards borrowings and Acceptances, in part or full |
| 2 | General corporate purposes |
About Karamtara Engineering Limited
Incorporated in 1996, Karamtara Engineering Limited is a backward-integrated manufacturer of renewable energy and power transmission infrastructure products. The company primarily focuses on solar energy solutions and offers a diverse portfolio of solar mounting structures, tracker components, transmission towers, fasteners and overhead transmission line (OHTL) hardware fittings. It has also expanded into the wind energy sector with the manufacturing of angular and tubular wind turbine towers.
Karamtara is the largest integrated manufacturer in India of solar mounting structures and tracker components by installed capacity, with aggregate manufacturing capacity of 8,89,200 MTPA as of March 31, 2026, including 4,92,000 MTPA of solar product capacity, equivalent to approximately 16.81 GW.
Its product portfolio includes fixed-tilt solar structures, tracker piles and piers, torque tubes, lattice towers for transmission lines, wind turbine towers, fasteners, structural steel profiles and OHTL hardware fittings. Solar products remained the company’s largest business segment, contributing 78.99% of revenue in FY2026.
The company operates 13 manufacturing facilities across India and Italy and has significant backward integration through in-house steel processing, galvanising and rolling mill facilities. Its galvanising capacity of 2,76,800 MTPA supports greater control over quality, costs and delivery timelines. The company also has one of the largest galvanising capacities in India’s solar energy sector.
Karamtara has established a strong international presence, exporting its products to more than 50 countries across North America, Europe, Asia, Africa, Australia and Latin America. Exports contributed 40.52% of FY2026 revenue, reflecting the company’s diversified global customer base. It served 65 solar-product customers during FY2026, compared with 73 in FY2025.
The company’s competitive strengths include its integrated manufacturing capabilities, diversified product portfolio, extensive global footprint, established customer relationships, backward integration and strategically located manufacturing facilities. Its experienced management team and in-house manufacturing capabilities further support its ability to execute large-scale renewable energy and transmission infrastructure projects.
As of March 31, 2026, Karamtara Engineering had a workforce of 1,575 employees.
Promoters
- Tanveer SIngh
- Rajiv Singh
- Inderjeet Singh
- Inderjeet Tanveer Singh Trust
- Inderjeet Rajiv Singh Trust
Contact details
Karamtara Engineering Ltd.
705, Morya Landmark II,
New Link Road,
Andheri (West),
Mumbai, Maharashtra, 400053
Phone: +91 22 4071 0000
Email: investors@karamtara.com
Website: https://karamtara.com/
Karamtara Engineering IPO FAQs
- What is the Karamtara Engineering IPO price band?
- The Karamtara Engineering IPO price band is ₹241 to ₹254 per share.
- What is the Karamtara Engineering IPO lot size and minimum investment?
- The Karamtara Engineering IPO lot size is 59 shares. The minimum retail investment is ₹14,986 for one lot at the upper price band. Retail investors can apply for up to 13 lots (767 shares), costing ₹1,94,818.
- When was Karamtara Engineering IPO open for subscription?
- Karamtara Engineering IPO was open for subscription from Wed, 9 Sep 2026 to Fri, 11 Sep 2026.
- What is the Karamtara Engineering IPO subscription status?
- Karamtara Engineering IPO was subscribed 66.01x overall: QIB 168.19x, NII 51.17x and retail 13.98x. Day-wise and category-wise figures are on the subscription page.
- What was the Karamtara Engineering IPO GMP before listing?
- The last Karamtara Engineering IPO GMP before listing was +₹48 (+18.90% against the upper price band of ₹254), implying an estimated listing price of ₹302. Across 10 days of tracking, GMP ranged from +₹48 (16 Sep) to +₹75 (09 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Karamtara Engineering IPO allotment date?
- The Karamtara Engineering IPO basis of allotment was finalised on Tue, 15 Sep 2026. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the Karamtara Engineering IPO listing date?
- Karamtara Engineering IPO listed on BSE & NSE on Thu, 17 Sep 2026.
- Is the Karamtara Engineering IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹675 Cr (77.14%) with an offer for sale of ₹200 Cr (22.86%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Karamtara Engineering IPO?
- The registrar for the Karamtara Engineering IPO is MUFG Intime India Pvt Ltd, and the book running lead managers are IIFL Capital Services Limited, ICICI Securities Limited and JM Financial Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.