Karamtara Engineering Limited is engaged in the manufacturing of products for the renewable energy and transmission sectors. Its diversified product portfolio includes solar mounting structures, transmission towers, wind turbine towers, fasteners and OHTL hardware fittings and accessories.
Product Portfolio:
- Solar Energy Products: Fixed-tilt structures such as Solar MMS, solar C piles and hat purlins, along with tracker piles, piers, torque tubes, Z-posts and other tracker components. The Company produced 332,729 MT of solar products in Fiscal 2026, equivalent to approximately 11.30 GW.
- Transmission Towers: Lattice towers for power transmission with manufacturing capabilities of up to 1,200 kV. The Company had supplied over 0.50 million MT of lattice towers as of March 31, 2026.
- Wind Turbine Towers: Tubular and angular towers for wind energy applications. In Fiscal 2026, the Company produced 25,893 MT of tubular towers and 11,990 MT of angular towers.
- Fasteners & OHTL Hardware: Bolts, nuts, anti-theft fasteners, studs, U-bolts, washers, insulator string fittings, suspension clamps, vibration dampers and other accessories used across power transmission, renewable energy and industrial applications.
As of March 31, 2026, the Company operated 13 manufacturing facilities across India and Italy, with an installed capacity of 889,200 MTPA and 480,000 pieces. Its in-house manufacturing, engineering and galvanizing capabilities, including 276,800 MTPA of galvanizing capacity, support cost efficiency, quality and timely delivery.
The Company serves OEMs, EPCs and IPPs, with 65 solar product customers in Fiscal 2026. It has also commenced composite transmission tower contracts to provide integrated solutions.
The Company has a strong international presence, supplying products to 50+ countries across North America, Europe, Asia, Africa, Australia and Latin America. It served 42 international customers as of March 31, 2026, while export revenue stood at ₹17,474.92 million in Fiscal 2026.
Karamtara Engineering IPO – Details
| IPO Opening Date | 09 September 2026 |
| IPO Closing Date | 11 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,44,48,817 Shares Worth ₹875.00 Crore Fresh Issue: 2,65,74,803 Shares Worth ₹675.00 Crore Offer For Sale: 78,74,014 Shares Worth ₹200.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹241 – ₹254 per share |
| Market Lot | 59 Shares |
| Min Order | 59 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Private Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Karamtara Engineering IPO – Date Schedule
| IPO Open Date | 09 September 2026 |
| IPO Close Date | 11 September 2026 |
| Basis of Allotment | 15 September 2026 |
| Initiation of Refund | 16 September 2026 |
| Credit of Shares to Demat Account | 16 September 2026 |
| IPO Listing Date | 17 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2026 |
Karamtara Engineering IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 59 | ₹14,986 |
| Retail (Max) | 13 | 767 | ₹1,94,818 |
| S-HNI (Min) | 14 | 826 | ₹2,09,804 |
| S-HNI (Max) | 66 | 3,894 | ₹9,89,076 |
| B-HNI (Min) | 67 | 3,953 | ₹10,04,062 |
Competitive Strength
- Largest integrated manufacturer in India for solar mounting structures and tracker components.
- Diverse product offerings acting as a one-stop shop for solar structures (fixed-tilt and trackers).
- Extensive global footprint with a track record of exports to over 50 countries.
- Established relationships with global customers and high customer retention.
- Strategic network of manufacturing facilities with advanced capabilities.
- Experienced Promoter Directors supported by a skilled management team.
Company Promoters
- Tanveer SIngh
- Rajiv Singh
- Inderjeet Singh
- Inderjeet Tanveer Singh Trust
- Inderjeet Rajiv Singh Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹2,427.12 Cr | ₹2,289.68 Cr | ₹102.65 Cr | ₹508.51 Cr |
| 31 March 2025 | ₹3,165.36 Cr | ₹2,977.08 Cr | ₹139.33 Cr | ₹556.28 Cr |
| 31 March 2026 | ₹4,316.36 Cr | ₹4,005.14 Cr | ₹228.75 Cr | ₹1,030.13 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 20.77% |
| ROCE | 23.27% |
| Debt/Equity | 0.84 |
| RoNW | 20.78% |
| PAT Margin | 5.30% |
| EBITDA Margin | 11.55% |
| NAV | 41.72 |
| Price to Book Value | 6.09 |
| Pre IPO | Post IPO | |
| EPS (₹) | 7.75 | 7.11 |
| P/E (x) | 32.77 | 35.72 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding prepayment, repayment and/ or payment obligations to lenders towards borrowings and Acceptances, in part or full. | ₹600.00 |
| General corporate purposes. |
Karamtara Engineering IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Inox Wind Limited | 27.08 |
| 2 | 10 | Waaree Energies Limited | 20.48 |
| 3 | 5 | KP Green Engineering Limited | 9.65 |
| 4 | 2 | Suzlon Energy Limited | 20.25 |
| 5 | 1 | Premier Energies Limited | 30.15 |
| 6 | 10 | Vikram Solar Limited | 12.70 |
| 7 | 2 | Saatvik Green Energy Limited | 14.23 |
| 8 | 2 | Emmvee Photovoltaic Power Limited | 18.87 |
✅Strengths
- Diversified Product Portfolio across solar, transmission and wind sectors.
- Strong Manufacturing Base with 13 facilities and significant installed capacity.
- Backward Integration with in-house rolling mills and galvanizing facilities.
- Global Presence with exports to 50+ countries.
- Established Customer Base comprising OEMs, EPCs and IPPs.
⚠️Risks
- Customer Concentration with the top 10 customers contributing 48.63% of revenue in Fiscal 2026.
- Raw Material Price Risk as fluctuations in steel prices can affect profitability.
- Export & Currency Risk due to significant international operations.
- Expansion Risks related to new facilities and business initiatives.
- Competitive Pressure across its renewable energy and transmission product segments.
Karamtara Engineering IPO Promoter Holding
| Pre Issue Share Holding | 94.79% |
| Post Issue Share Holding | 83.64% |
Karamtara Engineering IPO Prospectus
Company Contact Information
| Karamtara Engineering Ltd. 705, Morya Landmark II, New Link Road, Andheri (West), Mumbai, Maharashtra, 400053 Phone: +91 22 4071 0000 Email: investors@karamtara.com Website: https://karamtara.com/ |
Karamtara Engineering IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: karamtara.ipo@linkintime.co.in Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Karamtara Engineering IPO Lead Manager(s)
| 1. JM Financial Limited 2. ICICI Securities Limited 3. IIFL Capital Services Limited |
Karamtara Engineering IPO FAQs
| What is the Karamtara Engineering IPO? Karamtara Engineering IPO is a main-board IPO. The issue is priced at ₹241 to ₹254 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Karamtara Engineering IPO open? The IPO is to open on 09 September 2026 for QIB, NII, and Retail Investors. |
| What is Karamtara Engineering IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Karamtara Engineering IPO Size? Karamtara Engineering IPO size is ₹875.00 Crore. |
| What are the Karamtara Engineering IPO Minimum and maximum lot sizes for Retail? The minimum bid is 59 Shares with ₹14,986, while the maximum bid is 767 Shares with ₹1,94,818. |
| What is the Karamtara Engineering IPO Allotment Date? Karamtara Engineering IPO allotment date is 15 September 2026. |
| What is the Karamtara Engineering IPO Listing Date? Karamtara Engineering IPO listing date is 17 September 2026. The IPO is to be listed on the BSE and the NSE. |
