Karamtara Engineering Ltd IPO
Capital Goods - Electrical Equipment
Price Band
₹241 – ₹254
Lot Size
59
Minimum Bid Quantity
59
Minimum Investment
₹14986
Issue Size
₹875Cr
Opens
2026-09-09
Closes
2026-09-11
Listing
17-09-2026
Subscription Status
Qualified Institutional Buyers
34.27 x
Non-Institutional Investor
31.04 x
Retail Individual Investor
9.64 x
Total
21.26 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE590T01012
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Karamtara Engineering is a backward integrated manufacturer of products for the renewable energy and transmission line sectors. Its product portfolio includes solar module mounting structures, solar tracker piles and piers, solar torque tubes, lattice towers for transmission lines, fasteners, structural steel profiles, and overhead transmission line (OHTL) hardware fittings and accessories. The company has also commenced production of angular and tubular towers for wind turbines. As of March 31, 2026, Karamtara Engineering operated 13 manufacturing facilities, comprising eight facilities in Maharashtra, four in Gujarat, and one in Italy. Its aggregate installed manufacturing capacity stood at 889,200 MTPA, excluding galvanising capacity, along with a capacity of 480,000 pieces at its Italy facility. The company also operates in-house galvanising facilities and rolling mill furnaces. It has a global delivery presence, with exports to over 50 countries across North America, Europe, Asia, Africa, Australia, and Latin America. Use of proceeds: The IPO is a combination of a fresh issue of shares and offer for sale. The net proceeds from the offer for sale will go to the selling shareholders, whereas those from the fresh issue will go to the company and will be utilised for the following purposes: Funding prepayment, repayment and/ or payment obligations to lenders towards borrowings and acceptances, in part or full - Rs 600 crore General corporate purposes
Pros
- • Karamtara Engineering claims to be the largest integrated manufacturer in India, in terms of installed capacity, for solar mounting structures and tracker components in FY26, according to the F&S Report. Its aggregate installed capacity stood at 889,200 MTPA and 480,000 pieces as of March 31, 2026, excluding galvanising capacity.
- • The company claims to have backward integration capabilities, including in-house rolling mills and galvanising facilities. Its in-house galvanising capacity stood at 276,800 MTPA as of March 31, 2026, reducing its dependence on external suppliers for these processes.
- • The company manufactures solar mounting structures, tracker components, transmission towers, wind turbine towers, fasteners, and OHTL hardware fittings and accessories. Its product portfolio covers applications across the solar, wind, and power transmission sectors.
Cons
- • TThe company derives a significant portion of its revenue from manufacturing facilities located in Maharashtra, which contributed Rs 2,405.29 crore (99.18%), Rs 3,114.54 crore (98.61%), and Rs 3,917.10 crore (90.84%) to its revenue from operations in FY24, FY25, and FY26, respectively. Any adverse political, social or economic developments in Maharashtra or disruption at these facilities could negatively impact the company’s operations and financial performance.
- • The company derives a substantial portion of its revenue from solar energy products, which contributed Rs 1,982.64 crore (81.75%), Rs 2,570.92 crore (81.40%), and Rs 3,406.15 crore (78.99%) to its revenue from operations in FY24, FY25, and FY26, respectively. Any adverse trend or slowdown in the solar energy industry could negatively impact the company’s business and financial performance.
- • The top 10 customers of the company contributed Rs 1,539.30 crore (63.47%), Rs 1,276.07 crore (40.40%), and Rs 2,096.73 crore (48.63%) to its revenue from operations in FY24, FY25 and FY26, respectively. Failure to retain any of these key customers or a loss of business from them could adversely affect the company’s business and financial standing.
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