Karamtara Engineering IPO 2026: Price, Dates, GMP, Lot Size, Allotment & Review

Karamtara Engineering IPO is a mainboard book-built public issue of Karamtara Engineering Limited, a manufacturer of products used in renewable energy and power transmission infrastructure.

The company provides solar mounting structures, tracker components, fasteners, transmission line towers, overhead transmission line hardware fittings and accessories. It is also expanding into wind energy and evaluating opportunities in battery energy storage systems and prefabricated engineered building structures.

The IPO is scheduled to open on 9 September 2026 and close on 11 September 2026. The price band is fixed at ₹241 to ₹254 per equity share, with a face value of ₹10 per share. The shares are proposed to be listed on the BSE and NSE.

The revised IPO size is ₹875 crore, comprising a fresh issue of approximately ₹675 crore and an offer for sale of approximately ₹200 crore. The fresh issue consists of 2,65,74,803 equity shares, while the OFS comprises 78,74,014 equity shares.

Karamtara Engineering IPO Details

ParticularDetails
IPO NameKaramtara Engineering IPO
Company NameKaramtara Engineering Limited
Issue TypeBook Built Issue
IPO CategoryMainboard IPO
Face Value₹10 Per Equity Share
Price Band₹241 to ₹254 Per Share
Total Issue Size₹875 Crore
Fresh Issue₹675 Crore
Fresh Issue Shares2,65,74,803 Equity Shares
Offer for Sale₹200 Crore
OFS Shares78,74,014 Equity Shares
Total Shares Offered3,44,48,817 Equity Shares
IPO Open Date9 September 2026
IPO Close Date11 September 2026
Basis of Allotment15 September 2026
Refund Initiation16 September 2026
Credit to Demat16 September 2026
Listing Date17 September 2026
Listing ExchangeBSE & NSE
Lot Size59 Shares
Minimum Retail Investment₹14,986
Lead ManagersJM Financial Limited, ICICI Securities Limited, IIFL Capital Services Limited
RegistrarMUFG Intime India Private Limited

The fresh issue will provide capital to the company, whereas proceeds from the OFS will go to the selling shareholders.

Karamtara Engineering IPO Dates & Timeline

IPO EventDate
Anchor Investor Bidding8 September 2026
IPO Opening Date9 September 2026
IPO Closing Date11 September 2026
Basis of Allotment15 September 2026
Refund Initiation16 September 2026
Credit to Demat Account16 September 2026
IPO Listing Date17 September 2026

The anchor book is scheduled to open on 8 September 2026, followed by the three-day public subscription period from 9 September to 11 September. Allotment is expected on 15 September and listing on 17 September 2026.

Karamtara Engineering IPO Price Band

The Karamtara Engineering IPO price band has been fixed at ₹241 to ₹254 per share.

ParticularAmount
Face Value₹10
Lower Price Band₹241
Upper Price Band₹254
Fresh Issue₹675 Crore
OFS₹200 Crore
Total Issue Size₹875 Crore

At the upper price band, the company will raise ₹875 crore through the combined fresh issue and OFS.

Karamtara Engineering IPO Lot Size

The Karamtara Engineering IPO market lot is 59 shares.

At the upper price band of ₹254, one lot requires an investment of ₹14,986.

ApplicationLotsSharesAmount at ₹254
Retail Minimum159₹14,986
Retail Maximum13767₹1,94,818
S-HNI Minimum14826₹2,09,804
S-HNI Maximum663,894₹9,89,076
B-HNI Minimum673,953₹10,04,062

Investors can bid in multiples of 59 shares, subject to the applicable category limits.

Karamtara Engineering IPO Reservation

Investor CategoryReservation
Qualified Institutional Buyers50%
Non-Institutional Investors15%
Retail Individual Investors35%
Total100%

The issue provides up to 50% of the net offer for QIBs, at least 15% for NIIs and at least 35% for retail investors.

About Karamtara Engineering Limited

Karamtara Engineering Limited was incorporated in 1996 and commenced operations in 1998. The company initially focused on transmission line towers before expanding into renewable-energy products, particularly solar structures and tracker components.

The company describes itself as a backward-integrated manufacturer serving the renewable energy and transmission sectors. Its product range enables it to supply multiple components to customers rather than concentrating on a single product category.

Its business is positioned around the expansion of renewable energy generation and the corresponding need for solar mounting systems, transmission infrastructure and associated components.

Karamtara Engineering Business

Karamtara Engineering operates across several product categories connected with renewable energy and power transmission.

Its key businesses include:

  • Solar module mounting structures
  • Solar tracker piles and piers
  • Torque tubes
  • Tracker components
  • Transmission line towers
  • Telecom towers
  • Structural steel profiles
  • High-tensile and mild-steel fasteners
  • Overhead transmission line hardware
  • Wind turbine towers

The company is also entering the wind-energy segment and plans to expand into additional clean-energy infrastructure opportunities.

Karamtara Engineering Product Portfolio

Product CategoryMajor Products
Solar StructuresModule mounting structures, fixed-tilt systems
Solar TrackersTracker piles, piers, torque tubes and components
TransmissionLattice transmission towers and related structures
Wind EnergyTubular and angular wind turbine towers
FastenersHT and MS fasteners
Structural SteelHot-rolled HT and MS structural profiles
OHTL HardwareConductor accessories, fittings, dampers and related products
TelecomTelecom towers and associated structures

The breadth of the portfolio supports the company’s positioning as a one-stop supplier for several renewable-energy and transmission requirements.

Karamtara Engineering Solar Business

Solar products are a major part of Karamtara Engineering’s business.

The company manufactures module mounting structures, tracker piles and piers, torque tubes and stamped components used in solar tracking systems. It has described itself as one of India’s largest integrated manufacturers of solar mounting structures and tracker components based on installed capacity for the relevant periods.

Its solar products can be used across fixed-tilt ground-mounted installations, tracker systems, sloped roofs, flat roofs and customised applications.

The company also benefits from backward integration through manufacturing capabilities for several steel-based components.

Karamtara Engineering Transmission Business

The transmission business represents another important part of the company’s operations.

Karamtara manufactures lattice structures for transmission lines and supplies overhead transmission line hardware fittings and accessories. Its transmission-line division can design, manufacture and supply transmission solutions for systems up to 1,200 kV.

The company has reported having delivered more than half a million metric tonnes of transmission-line towers and maintains fabrication capacity of approximately 60,600 MT per annum for its transmission tower business.

Karamtara Engineering Wind Energy Business

Karamtara has expanded beyond solar and transmission into the wind-energy segment.

The company has commenced manufacturing of angular and tubular towers for wind turbines. This expansion gives Karamtara exposure to another renewable-energy equipment market.

The wind-energy opportunity could complement the company’s existing steel fabrication and manufacturing capabilities, although successful capacity utilisation and customer acquisition will remain important for the new business.

Karamtara Engineering Battery Storage Plans

The company is also exploring the battery energy storage systems business through its wholly owned subsidiary, Karamtara Green Energy, incorporated in May 2025.

Battery storage is becoming increasingly important as renewable-energy capacity grows because storage can help manage the intermittency of solar and wind generation.

However, the BESS initiative represents a newer business opportunity for the company and its eventual contribution to revenue and profitability will depend on execution, investment and market adoption.

Karamtara Engineering Manufacturing Facilities

Karamtara Engineering has developed a network of manufacturing facilities in India and Italy.

The company’s official profile states that it operates seven facilities in India and one in Italy, with automated equipment, robotics, IoT-enabled systems and quality-control processes.

The company has also stated that it plans additional manufacturing facilities in India for tubular wind towers and solar stamping parts, as well as a facility in Saudi Arabia for solar torque tubes, tracker piles and piers and transmission-line lattice towers.

Its manufacturing capabilities include:

Manufacturing AreaCapacity / Capability
Solar Module Mounting Structures100,500 MT per annum
Tracker Piles & Piers180,600 MT per annum
Torque Tubes93,600 MT per annum
Fasteners23,100 MT per annum
Structural Profiles168,000 MT per annum
Transmission Towers60,600 MT per annum fabrication capacity

The company’s manufacturing footprint provides backward integration and supports its broad product portfolio.

Karamtara Engineering International Presence

Karamtara has an international presence through its operations and exports.

The company has manufacturing operations in Italy and has exported solar products to international markets. It has also identified North America as an important export market and has plans for additional manufacturing capacity in Saudi Arabia.

International operations can diversify the company’s revenue base, but they also expose the business to foreign exchange movements, overseas regulations, tariffs and changes in international demand.

Karamtara Engineering IPO Objects of the Issue

The company intends to use the majority of the net fresh issue proceeds to reduce debt and related obligations.

Object of the IssueAmount
Repayment / Prepayment of Borrowings and Acceptances₹600 Crore
General Corporate PurposesBalance Amount
Total Fresh Issue₹675 Crore

The company plans to use ₹600 crore of the fresh issue proceeds for prepayment, repayment and/or payment obligations to lenders towards borrowings and acceptances. The balance is intended for general corporate purposes.

The debt-reduction objective is significant because the company has substantial borrowing requirements associated with its manufacturing and working-capital-intensive operations.

Karamtara Engineering IPO Financials

Karamtara Engineering has reported strong growth in revenue and profitability over the last three financial years.

Total income increased from ₹2,427.12 crore in FY2024 to ₹3,165.36 crore in FY2025 and ₹4,316.36 crore in FY2026.

PAT increased from ₹102.65 crore in FY2024 to ₹139.33 crore in FY2025 and ₹228.75 crore in FY2026.

Karamtara Engineering Financial Performance

₹ in Crore

ParticularFY2024FY2025FY2026
Total Income2,427.123,165.364,316.36
EBITDA262.93346.83498.11
Profit After Tax102.65139.33228.75
Net Worth552.92982.671,219.40
Total Assets1,844.562,762.594,142.24
Reserves & Surplus547.46690.53926.55
Total Borrowings508.51556.281,030.13

The company recorded substantial growth in revenue, EBITDA and PAT during FY2026, although borrowings also increased materially as the business expanded.

Karamtara Engineering Financial Highlights

Revenue increased approximately 36% in FY2026 compared with FY2025, while PAT increased approximately 64%.

EBITDA rose from ₹346.83 crore in FY2025 to ₹498.11 crore in FY2026.

Net worth reached ₹1,219.40 crore by the end of FY2026. At the same time, total borrowings increased to ₹1,030.13 crore from ₹556.28 crore in FY2025.

The combination of strong earnings growth and higher leverage makes debt reduction an important component of the IPO’s investment case.

Karamtara Engineering IPO Key Performance Indicators

KPIFY2026
ROE20.77%
ROCE23.27%
RoNW20.78%
EBITDA Margin11.55%
PAT Margin5.30%
Debt/Equity0.84x
NAV₹41.72
EPS₹7.83

The company reported a ROE of approximately 20.77%, ROCE of 23.27% and RoNW of 20.78% for FY2026. The debt-to-equity ratio stood at approximately 0.84x.

Karamtara Engineering IPO Valuation

At the upper price band of ₹254, the IPO implies a valuation of approximately 35.4x post-issue FY2026 earnings, based on the reported post-issue EPS of about ₹7.17.

The pre-issue FY2026 EPS is approximately ₹7.83.

Valuation ParameterValue
Upper Price Band₹254
FY2026 Pre-Issue EPS₹7.83
FY2026 Post-Issue EPS₹7.17
NAV₹41.72
Post-Issue P/EApprox. 35.43x
Price to Book ValueApprox. 6.09x
ROE20.77%
ROCE23.27%
Debt/Equity0.84x

The valuation reflects expectations of continued earnings growth from renewable-energy and transmission infrastructure demand.

Karamtara Engineering IPO GMP

The grey market premium is an unofficial indicator of investor sentiment and is not determined by the stock exchanges.

As of 4 September 2026, reported GMP indications were around ₹20 per share. Against the upper price band of ₹254, this implies an indicative grey-market price of approximately ₹274.

ParticularValue
Upper IPO Price₹254
Reported GMPAround ₹20
Indicative GMP PriceAround ₹274
Indicative PremiumAround 7.87%
GMP StatusUnofficial

GMP can change quickly before and during the IPO and should not be considered a guaranteed listing price or return.

Karamtara Engineering IPO Subscription Status

The Karamtara Engineering IPO is scheduled to open on 9 September 2026.

As of 4 September 2026, the public issue had not opened. Therefore, final subscription data was not available.

Investor CategorySubscription Status
QIBNot Yet Open
NIINot Yet Open
RetailNot Yet Open
TotalNot Yet Open

Subscription figures should be updated after bidding begins.

Karamtara Engineering IPO Allotment

The basis of allotment is scheduled for 15 September 2026.

EventDate
IPO Closing11 September 2026
Basis of Allotment15 September 2026
Refund Initiation16 September 2026
Credit to Demat16 September 2026
Listing17 September 2026

Investors can check their allotment after the registrar finalises the basis of allotment.

How to Check Karamtara Engineering IPO Allotment Status

Investors can check the allotment status after the IPO closes and the basis of allotment is finalised.

Through the Registrar

  1. Visit the IPO allotment facility of the registrar.
  2. Select Karamtara Engineering Limited.
  3. Select PAN, application number or another available identification method.
  4. Enter the required details.
  5. Submit the information.
  6. View the allotment result.

The registrar to the issue is MUFG Intime India Private Limited.

Through Stock Exchanges

Investors may also check application status through the relevant BSE or NSE facility after the exchange makes the information available.

Karamtara Engineering IPO Listing

Karamtara Engineering shares are scheduled to list on the BSE and NSE on 17 September 2026.

The actual listing price will depend on demand, market conditions and trading activity on the listing day.

ParticularDetails
Listing ExchangeBSE & NSE
Listing Date17 September 2026
IPO Price Band₹241–₹254
Actual Listing PriceTo Be Announced
Listing GainTo Be Announced
Listing Gain %To Be Announced

The GMP-based price is only an unofficial indication and should not be confused with the actual listing price.

Karamtara Engineering IPO Anchor Investors

The anchor investor bidding is scheduled for 8 September 2026, one day before the public issue opens.

ParticularDetails
Anchor Bidding Date8 September 2026
QIB Reservation50%
Anchor Investor NamesTo Be Announced
Anchor SharesTo Be Announced
Anchor AmountTo Be Announced
Public Issue Opens9 September 2026

The final anchor allocation details should be updated after the anchor book is completed.

Karamtara Engineering IPO Promoters

The promoters and promoter group include:

  • Tanveer Singh
  • Rajiv Singh
  • Inderjeet Singh
  • Inderjeet Tanveer Singh Trust
  • Inderjeet Rajiv Singh Trust

The latest reported shareholding shows promoter and promoter-group ownership of 92.06% before the IPO, reducing to approximately 82.01% after the issue.

Karamtara Engineering Promoter Holding

ParticularPre-IPOPost-IPO
Promoter & Promoter Group92.06%82.01%
Others7.94%17.99%
Total100%100%

The decline in promoter ownership results from the fresh issue and promoter OFS.

Karamtara Engineering IPO Selling Shareholders

The OFS component is approximately ₹200 crore and consists of shares sold by promoter selling shareholders.

Tanveer Singh and Rajiv Singh are the selling shareholders, with each offering shares worth approximately ₹100 crore.

Selling ShareholderOFS Value
Tanveer Singh₹100 Crore
Rajiv Singh₹100 Crore
Total OFS₹200 Crore

The OFS proceeds will accrue to the selling shareholders rather than to Karamtara Engineering.

Karamtara Engineering IPO Lead Managers

ParticularDetails
Lead Manager 1JM Financial Limited
Lead Manager 2ICICI Securities Limited
Lead Manager 3IIFL Capital Services Limited
Issue TypeMainboard Book-Built IPO
ListingBSE & NSE

JM Financial, ICICI Securities and IIFL Capital Services have been appointed as the book-running lead managers.

Karamtara Engineering IPO Registrar

ParticularDetails
RegistrarMUFG Intime India Private Limited
Former NameLink Intime India Private Limited
RoleRegistrar to the Issue
IPOKaramtara Engineering Limited

MUFG Intime India Private Limited is the registrar to the Karamtara Engineering IPO.

Karamtara Engineering Company Details

ParticularDetails
Company NameKaramtara Engineering Limited
Incorporation1996
Operations Commenced1998
IndustryRenewable Energy & Transmission Products
Main ProductsSolar Structures, Tracker Components, Transmission Towers, Fasteners & OHTL Hardware
Manufacturing PresenceIndia and Italy
PromotersTanveer Singh, Rajiv Singh and promoter group
Listing ExchangeBSE & NSE
CINU45207MH1996PLC099333
Registered OfficeMumbai, Maharashtra
Company Websitehttps://karamtara.com/

The company has evolved from a transmission-tower manufacturer into an integrated supplier serving solar, transmission and other renewable-energy applications.

Karamtara Engineering IPO Strengths

  • Long operating history dating back to 1996.
  • Diversified exposure to renewable energy and power transmission.
  • Broad portfolio covering solar, transmission, wind and related industrial products.
  • Integrated solar manufacturing capabilities.
  • Large installed capacity in solar mounting structures and tracker components.
  • Backward integration across several manufacturing processes.
  • Manufacturing facilities in India and Italy.
  • International export presence.
  • Exposure to the growing solar-energy infrastructure market.
  • Presence in the transmission infrastructure segment.
  • Capability to manufacture transmission solutions up to 1,200 kV.
  • Entry into wind-turbine tower manufacturing.
  • Plans to participate in battery energy storage systems.
  • Potential expansion into prefabricated engineered building structures.
  • Established customer base across renewable-energy and infrastructure sectors.
  • FY2026 revenue of ₹4,316.36 crore.
  • FY2026 EBITDA of ₹498.11 crore.
  • FY2026 PAT of ₹228.75 crore.
  • Net worth of ₹1,219.40 crore in FY2026.
  • FY2026 ROE of 20.77%.
  • FY2026 ROCE of 23.27%.
  • FY2026 RoNW of 20.78%.
  • Strong growth in revenue and profitability.
  • ₹600 crore of IPO proceeds earmarked for debt reduction.
  • Promoter holding remains substantial after the IPO.

Karamtara Engineering IPO Risks

  • The company operates in capital-intensive manufacturing businesses.
  • Renewable-energy demand can be influenced by government policies, tariffs and project economics.
  • Solar and transmission businesses are competitive.
  • Steel and other raw-material price fluctuations can affect margins.
  • Working-capital requirements can be significant.
  • The company’s borrowings increased substantially to ₹1,030.13 crore in FY2026.
  • Debt reduction is a major objective of the fresh issue.
  • Outstanding letters of credit and acceptances add to the company’s financing requirements.
  • The business depends on continued investment in renewable-energy infrastructure.
  • Delays in renewable-energy projects can affect customer orders.
  • Large customers can create customer-concentration risk.
  • International exports expose the company to currency fluctuations.
  • Overseas markets may be affected by tariffs, trade restrictions and geopolitical conditions.
  • New manufacturing facilities involve execution and capital expenditure risks.
  • Wind-energy manufacturing is a relatively newer business for the company.
  • BESS is an emerging business initiative and may require additional investment.
  • Saudi Arabia expansion plans involve execution and international-market risks.
  • The company operates in industries where technological and product requirements can change.
  • High growth reported in FY2026 may not continue at the same pace.
  • The IPO valuation is relatively high compared with the company’s NAV.
  • The post-issue P/E is approximately 35.4x based on FY2026 post-issue EPS.
  • A large portion of the IPO is an OFS.
  • OFS proceeds do not accrue to the company.
  • GMP is unofficial and can change rapidly.
  • Post-listing volatility may be substantial.

Karamtara Engineering IPO Review 2026

Karamtara Engineering operates in an attractive part of India’s infrastructure ecosystem, supplying products required for renewable-energy generation and electricity transmission. Its exposure to solar structures, tracker components, transmission towers and hardware provides multiple avenues for participation in the energy-transition investment cycle.

The company’s integrated manufacturing model is an important advantage. Instead of focusing on one product, Karamtara manufactures a broad range of components including solar mounting structures, tracker piles and piers, torque tubes, fasteners, transmission towers and OHTL hardware. This allows it to address several requirements within the renewable and transmission value chain.

The financial performance is another significant positive. Total income increased from ₹2,427.12 crore in FY2024 to ₹4,316.36 crore in FY2026. PAT more than doubled over the same period, increasing from ₹102.65 crore to ₹228.75 crore. EBITDA also increased to ₹498.11 crore in FY2026.

However, investors should not overlook the balance sheet. Total borrowings increased from ₹508.51 crore in FY2024 to ₹1,030.13 crore in FY2026. The company’s debt-to-equity ratio stood at approximately 0.84x. The planned use of ₹600 crore from the fresh issue for repayment or prepayment of borrowings and acceptances therefore becomes particularly important.

The company’s expansion into wind energy and potential entry into BESS can provide additional growth opportunities. However, these initiatives also involve execution, investment and market-adoption risks because they represent newer areas for the company.

The IPO valuation needs careful consideration. At ₹254, the post-issue P/E is approximately 35.4x based on the reported FY2026 post-issue EPS of ₹7.17. This means the market is already assigning a meaningful valuation to the company’s future earnings growth.

The IPO structure is relatively balanced compared with the company’s earlier proposed ₹1,750 crore issue. The revised issue has been reduced to ₹875 crore, consisting of ₹675 crore fresh capital and ₹200 crore OFS. The reduction means a smaller capital raise, but the ₹600 crore debt-repayment objective remains substantial.

Overall, Karamtara Engineering IPO offers exposure to solar infrastructure, transmission equipment and emerging renewable-energy segments. Strong revenue and profit growth, manufacturing capabilities and a diversified product portfolio are positives. On the other hand, leverage, raw-material exposure, competitive pressure, expansion risks and valuation need to be considered carefully.

Karamtara Engineering IPO may appeal to investors seeking long-term exposure to renewable-energy and power-transmission infrastructure, but investors should evaluate the valuation and debt position rather than relying solely on the current GMP or recent earnings growth.

Karamtara Engineering IPO Conclusion

Karamtara Engineering IPO is an ₹875 crore mainboard book-built issue comprising a ₹675 crore fresh issue and ₹200 crore OFS. The price band is ₹241 to ₹254 per share and the market lot is 59 shares.

The company manufactures products for solar energy, transmission infrastructure and other renewable-energy applications. Its product portfolio includes solar mounting structures, tracker components, transmission towers, fasteners, structural profiles and OHTL hardware.

Karamtara reported strong FY2026 financial performance, with total income of ₹4,316.36 crore, EBITDA of ₹498.11 crore and PAT of ₹228.75 crore. However, borrowings increased to ₹1,030.13 crore, making the planned ₹600 crore debt-repayment allocation an important part of the IPO.

The company also has expansion opportunities in wind-energy towers, battery energy storage and additional international manufacturing capacity. These opportunities could support future growth, but they also involve execution and capital requirements.

At the upper price band of ₹254, the post-issue valuation is approximately 35.4x FY2026 earnings. Therefore, investors should assess whether the company’s future growth can justify the valuation.

The IPO is scheduled to open on 9 September 2026, close on 11 September 2026, receive allotment on 15 September 2026 and list on 17 September 2026.

Karamtara Engineering IPO FAQs

What is Karamtara Engineering IPO?

Karamtara Engineering IPO is a mainboard book-built public issue of ₹875 crore comprising a ₹675 crore fresh issue and ₹200 crore offer for sale.

What is the Karamtara Engineering IPO price band?

The price band is ₹241 to ₹254 per equity share.

What is the Karamtara Engineering IPO issue size?

The total IPO issue size is ₹875 crore.

What is the Karamtara Engineering IPO lot size?

The IPO lot size is 59 shares.

What is the minimum investment in Karamtara Engineering IPO?

At the upper price band of ₹254, one lot of 59 shares requires an investment of ₹14,986.

When is Karamtara Engineering IPO allotment?

The basis of allotment is scheduled for 15 September 2026.

When will Karamtara Engineering shares be listed?

The shares are scheduled to list on the BSE and NSE on 17 September 2026.

What is Karamtara Engineering IPO GMP?

The reported GMP was around ₹20 per share as of 4 September 2026. GMP is unofficial and can change before listing.

What does Karamtara Engineering Limited do?

Karamtara Engineering manufactures solar mounting structures, tracker components, transmission towers, fasteners, structural steel products and overhead transmission line hardware. It is also expanding into wind-energy products and exploring battery energy storage.

Who are the promoters of Karamtara Engineering?

The promoters and promoter group include Tanveer Singh, Rajiv Singh, Inderjeet Singh, Inderjeet Tanveer Singh Trust and Inderjeet Rajiv Singh Trust.

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