Kanohar Electricals IPO: 35% GMP and 2.7x Day-1 subscription — bid or skip?
Kanohar Electricals' ₹1,055.74 crore IPO heads into its final day with a 35% grey market premium and a 2.7x Day-1 subscription. Retail and NII demand are running at 3.30x and 4.87x respectively, but an OFS-heavy structure means 71.6% of proceeds go to selling shareholders. The key question for bidders is whether the ~₹853 implied listing price holds up to fundamentals.