Subscription & GMP
Subscription is live from NSE + BSE bid data. GMP is an unofficial market indicator.
Snapshot & Timeline
Verified against RHP, cross-checked on NSE & BSE.
| Issue Structure | |
|---|---|
| Type | Mainboard · Book Built |
| Face Value | ₹10 |
| Fresh Issue | ₹675 Cr |
| Offer for Sale | ₹200 Cr |
| Market Cap | ≈ ₹8,174.30 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | 50% |
| NII / HNI | 15% |
| Retail | 35% |
| Lead Managers | JM Financial, ICICI Securities, IIFL Capital |
| Registrar | MUFG Intime India |
FY24–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Total Income | 2,427.12 | 3,165.36 | 4,316.36 | +36% |
| EBITDA | 262.93 | 346.83 | 498.11 | +44% |
| PAT | 102.65 | 139.33 | 228.75 | +64% |
| Total Borrowing | 508.51 | 556.28 | 1,030.13 | +85% |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| Karamtara Engineering | 35.7x | 20.77% | 5.3% |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | Tanveer Singh, Rajiv Singh, Inderjeet Singh & promoter trusts |
| Pre-issue | 94.79% |
| Post-issue | 83.64% |
| Objects of Issue | |
|---|---|
| Repayment / pre-payment of borrowings | ₹600.00 Cr |
| General corporate purposes | Balance |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- Fast growth — profit +64% in FY26 (PAT ₹103 → ₹229 Cr over three years); income +36%, EBITDA +44%.
- Hot sector tailwind — solar mounting structures, trackers and transmission-line hardware for India's solar and grid build-out.
- Scale moat — one of India's largest in-house solar galvanizing capacities (~258,000 MTPA), serving 50+ countries.
- Firm grey market — GMP ~₹63–69 (~25–27%), signalling a healthy listing.
- Healthy returns and mostly-fresh issue — ROE ~21%; ₹675 Cr of the ₹875 Cr raise is fresh capital.
- Rich valuation — ~35.7x post-issue P/E for a business with thin ~5% net margins.
- Rising debt — borrowings nearly doubled in FY26 (₹556 → ₹1,030 Cr); debt/equity up to ~0.84 from ~0.57.
- Fresh money mostly repays loans — ₹600 Cr of the ₹675 Cr fresh proceeds goes to debt repayment, not growth capex.
- Cyclical, policy-linked demand — solar and transmission capex ride government targets, tariffs and the capex cycle.
- Input-cost and export exposure — steel/zinc prices and 50+ country sales expose margins to commodity and currency swings; demand is strong (~6.98x by the final day, QIB ~2.5x).
Did the signal hold up? Updates after Sep 17
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
Karamtara Engineering IPO FAQs
Common questions about the Karamtara Engineering IPO — GMP, price, dates, allotment and more.
What is Karamtara Engineering IPO GMP today?
As of the latest update (Subscription: Sep 11, 5:57 PM IST (Final, IPOJI) · GMP: Sep 11 (₹61 IPOJI ~24% @3:40PM / ₹65 InvestorGain ~26% @5:30PM)), the grey market premium (GMP) for Karamtara Engineering IPO is around ₹61–65, implying an estimated listing price of about ≈ ₹315–319. GMP is unofficial & indicative
What is Karamtara Engineering IPO price band?
The price band is ₹241 – ₹254 per share (face value ₹10).
What is Karamtara Engineering IPO lot size?
The lot size is 59 · min ₹14,986 per application.
When is Karamtara Engineering IPO allotment?
The tentative basis-of-allotment date is Sep 15.
When will Karamtara Engineering IPO be listed?
The tentative listing date is Sep 17, 2026 on BSE · NSE.
What is the expected listing price of Karamtara Engineering IPO?
Based on the current grey market premium of ₹61–65, the estimated listing price is around ≈ ₹315–319 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for Karamtara Engineering IPO?
Our view: Apply · Subscribe
In simple terms, Karamtara Engineering makes the steel structures that hold up solar panels, plus the nuts-bolts-and-hardware used in solar farms and power lines — and it sits right in the middle of India's solar and electricity-grid boom. Its profit has grown fast (up about 64% last year), it earns healthy returns, it has one of the country's largest in-house galvanizing setups, and it sells to more than 50 countries; the grey market is firm at about ₹61–65 (~24–26%). Demand was strong — the final book closed at about 66.01 times overall, with the big institutions ~168 times, wealthy investors ~51 times and retail ~14 times. The things to weigh: the shares are priced richly (about 36 times earnings) even though profit margins are thin (~5%); its borrowings have nearly doubled; and most of the fresh money raised will repay loans rather than fund growth. If you are comfortable paying up for a fast-growing company in a hot sector, it looks worth applying for — just size it knowing the rich price leaves little margin for error. This is IPOSignal's research view, not investment advice.
What is Karamtara Engineering IPO subscription status?
As of Final · Sep 11, 5:57 PM IST (IPOJI), the issue was subscribed 66× overall — QIB 168.2×, NII / HNI 51.2×, Retail 14×.
Who is the registrar of Karamtara Engineering IPO?
The registrar is MUFG Intime India; the lead manager(s): JM Financial, ICICI Securities, IIFL Capital.