Karamtara Engineering IPO
Karamtara Engineering IPO is a mainboard IPO raising ₹875 Cr at ₹241 – ₹254 a share. It listed on 17 Sept 2026 at ₹320, +26.0% against its issue price of ₹254, and trades at ₹352 today (+38.5% since issue). It was subscribed 63× in total.
62.6 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs875 Cr vs derived Rs875 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 66% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Inox Wind Limited | 27.08× | 8.32% | ₹2.65 |
| Waaree Energies Limited | 20.48× | 32.48% | ₹128.84 |
| KP Green Engineering Limited | 9.65× | 32.32% | ₹27.15 |
| Suzlon Energy Limited | 20.25× | 40.64% | ₹2.31 |
| Premier Energies Limited | 30.15× | 42.35% | ₹33.63 |
| Vikram Solar Limited | 12.7× | 21.34% | ₹13.6 |
| Saatvik Green Energy Limited | 14.23× | 41.97% | ₹29.76 |
| Emmvee Photovoltaic Power Limited | 18.87× | 51.12% | ₹17.17 |
| This issue | 32.4× | 20.78% | ₹7.83 |
derived: cut-off price Rs254 / stated EPS Rs7.83 (FY2026 (year ended March 31, 2026), diluted, restated consolidated, bonus-adjusted). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.