Karamtara Engineering IPO
KARAMTARA · BSE, NSE · Mainboard · Power Generation/Distribution
Overview
Updated 12 days agoKaramtara Engineering is a backward-integrated manufacturer specializing in solar mounting structures, transmission line towers, and wind turbine components. The company operates 13 manufacturing facilities across India and Italy, serving a global customer base of OEMs, EPCs, and IPPs.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 59 | ₹14,986 |
| Retail (max) | 13 | 767 | ₹1,94,818 |
| sNII (min) | 14 | 826 | ₹2,09,804 |
| bNII (min) | 67 | 3,953 | ₹10,04,062 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE, NSE |
| Segment | Mainboard |
| Sector | Power Generation/Distribution |
| Price band | ₹241–254 |
| Final issue price | ₹254.00 |
| Face value | ₹10 per share |
| Lot size | 59 shares |
| Minimum investment | ₹14,986 |
| Issue size | ₹875 Cr |
| Fresh issue | ₹675 Cr |
| Market cap at upper band | ₹7,424 Cr |
| P/E at upper band | 32.4x |
| Registrar | MUFG Intime India Private Limited |
| NSE symbol | KARAMTARA |
| ISIN | INE590T01012 |
Fresh issue vs offer for sale
Company & business
Karamtara Engineering is a prominent manufacturer in the renewable energy and power transmission sectors, recognized as one of the largest integrated manufacturers of solar mounting structures and tracker components in India. The company offers a diverse product portfolio including solar structures, lattice towers for transmission lines, fasteners, and wind turbine towers. With a strong global presence, it has exported products to over 50 countries and maintains a robust manufacturing network supported by in-house galvanizing and rolling mill facilities. The company focuses on sustainability and energy-efficient processes, holding certifications like ISO 9001 and CBAM compliance, while leveraging its integrated capabilities to provide end-to-end solutions for renewable energy projects.
Objects of the issue — how the money will be used
- Funding prepayment, repayment and/or payment obligations to lenders towards borrowings and Acceptances (₹600 Cr)
- General corporate purposes
Key strengths
- Largest integrated manufacturer in India for solar mounting structures and tracker components
- Diverse product portfolio serving as a one-stop shop for solar and transmission sectors
- Extensive global footprint with exports to over 50 countries
- Strong backward integration with in-house galvanizing and rolling mill facilities
- Established relationships with global OEMs, EPCs, and IPPs
- Experienced promoter directors and management team
- Consistent track record of financial growth and operational efficiency
Key risks
- Funding requirements and deployment of Net Proceeds are based on management estimates
- Dependence on a limited number of customers for a significant portion of revenue
- Exposure to risks related to international operations and geopolitical factors
- Significant working capital requirements and reliance on credit facilities
- Potential for fluctuations in raw material prices and availability
- Risks associated with the renewable energy industry and government policy changes
- Operational risks related to manufacturing facilities and capacity utilization
Promoters
Tanveer Singh, Rajiv Singh
Decoded from the RHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 2,425.15 | -- | 102.65 | -- | 552.92 | 508.51 |
| FY25 | 3,158.45 | -- | 139.33 | -- | 982.67 | 556.28 |
| FY26 | 4,311.98 | -- | 228.75 | -- | 1,219.40 | 1,030.13 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Karamtara Engineering this issue | 4,312.0 | 7.83 | 32.4x | 20.78 | 41.72 |
| Inox Wind Limited | 4,397.1 | 2.65 | 27.1 | 8.32 | 36.93 |
| Waaree Energies Limited | 26,536.8 | 128.84 | 501.9 | 32.48 | 501.90 |
| KP Green Engineering Limited | 1,245.6 | 27.15 | 9.7 | 32.32 | 91.52 |
| Suzlon Energy Limited | 16,679.1 | 2.31 | 20.3 | 40.64 | 6.90 |
| Premier Energies Limited | 7,824.4 | 33.63 | 30.2 | 42.35 | 95.09 |
| Vikram Solar Limited | 4,802.3 | 13.60 | 12.7 | 21.34 | 87.43 |
| Saatvik Green Energy Limited | 4,548.4 | 29.76 | 14.2 | 41.97 | 107.08 |
| Emmvee Photovoltaic Power Limited | 5,049.9 | 17.17 | 18.9 | 51.12 | 53.37 |
This issue is priced at 32.4x P/E against a peer median of 19.6x: a premium of 66%. A measurement, not a verdict.
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Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.