Karamtara Engineering mobilises over Rs 262 crore via anchor book, Rs 875-crore IPO to open on September 9

Karamtara Engineering IPO News Karamtara Engineering mobilises over Rs 262 crore via anchor book Rs 875-crore IPO will open for public subscription on September 9 IPO price band at Rs 241-254 per share Did our AI summary help? Market Mastery Webinar by Vishal Malkan Find the weak links in your portfolio by Vishal Malkan Register for FREE Webinar Register for FREE Karamtara Engineering, a Mumbai-based manufacturer of solar mounting structures and tracker components for the renewable energy and transmission line sectors, has mobilised Rs 262.5 crore from 14 institutional investors through the anchor book on September 8. The company will open its Rs 875-crore IPO for public subscription on September 9, with a price band of Rs 241-254 per share. The offer will close on September 11. The IPO comprises a fresh issue of shares worth Rs 675 crore and an offer-for-sale (OFS) of shares worth Rs 200 crore by promoters Tanveer Singh and his brother Rajiv Singh. Karamtara Engineering has allocated 1.03 crore equity shares through the anchor book on Tuesday at Rs 254 per share. Of the total anchor allocation, 46.85 lakh shares worth Rs 119 crore were allotted to five domestic mutual fund houses — HDFC AMC, Motilal Oswal AMC, Nippon Life India, Mirae Asset and Trust MF — through six schemes. Insurance companies including HDFC Life, SBI Life and Edelweiss Life invested Rs 45.5 crore for 17.91 lakh shares. Madhusudan Kela-mentored Singularity AMC, Authum Investment and Infrastructure, ELM Park Fund and Societe Generale each picked up 7.87 lakh shares for nearly Rs 20 crore. Duro India Opportunities Fund and Susquehanna Pacific each bought 3.54 lakh shares worth Rs 9 crore. Click Here To Read All IPO News Karamtara Engineering intends to utilise Rs 600 crore of the net fresh issue proceeds to repay debt, with the remaining amount earmarked for general corporate purposes. As of July 2026, the company had total standalone outstanding borrowings from banks and lending institutions of Rs 1,344.4 crore. It also had outstanding acceptances pursuant to letters of credit amounting to Rs 735.1 crore. The company manufactures structures and fasteners for the solar energy and transmission sectors, as well as overhead transmission line hardware, fittings and accessories. The merchant bankers managing the Karamtara Engineering IPO are JM Financial, ICICI Securities and IIFL Capital Services.