Kanohar Electricals Ltd (Kanohar) said it has raised Rs 3,170 mn from anchor investors as its initial public offering opened for subscription. The company reported that the anchor tranche was subscribed ahead of the public offer and that the public portion of the issue is now available to qualified investors and retail applicants. The sum raised from anchor investors represents a significant portion of the issue that was pre-allocated to institutional participants.

The anchor allotment was part of the book building process that precedes the formal subscription window, and institutional investors were invited to take up shares before the offer opened to the public. Kanohar will now await bids from a broader set of investors during the subscription period and will allocate shares across investor categories in line with regulatory norms. The company said that investor appetite in the anchor round provided a signal of market interest.

Prospective investors were advised to consult prospectus details for the issue price band, bidding procedure and application timelines, and to consider their investment objectives before subscribing. The offer being open for subscription allows retail and non institutional investors to place bids through their brokers and online platforms. The company will report final allotment figures once the subscription window closes and allocations are confirmed.

Market observers said that anchor subscriptions can help stabilise the initial phases of an offering and influence perception among retail investors, although final subscription levels are determined by broader demand during the public offer. Kanohar will complete regulatory formalities before shares are listed on the stock exchanges, and the company will disclose allotment and listing dates in line with statutory requirements.