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HomeIPOKaramtara Engineering

About Karamtara Engineering

Since 1996, Karamtara Engineering Limited is engaged in the manufacturing business of Products for renewable energy and transmission lines. The company provides wide range of products as a single-source provider of solar structures (fixed-tilt and trackers), fasteners for solar energy and transmission industry, and fittings of overhead transmission lines.The company is venturing into the field of wind energy through the establishment of manufacturing unit for tubular towers for wind turbines and operations are expected to commence in the first quarter of Fiscal 2026. As of September 30, 2024, the company has international presence with exports to more than 50 countries spread all over North America, Europe, Asia, Africa, Australia and Latin America with large geographical coverage and delivery model. The company emphasizes backward integration with its own galvanizing units which is the largest in India in solar energy segment (258,000 MTPA) and rolling mill furnaces. As of September 30, 2024, the company has 530 permanent employees. The company further has hired 412 factory workers in their payroll.

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National Stock Exchange of India

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Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
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Issue Size22.98 Cr
Min. Qty2000 Shares
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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
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Antala Industries

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29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Karamtara Engineering

Karamtara Engineering

Open Date

Sep 9, 2026

Close Date

Sep 11, 2026

listed

Min Investment

₹14,986

Lot Size

59 Shares

Issue Size

₹875 Cr

Price Range

₹241 - ₹241

Listing Date

Sep 17, 2026

IPO Doc

RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹46(+18.11%)GMP
18.11%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Karamtara Engineering IPO - Issue Objectives

The company will use ₹600 crore to repay certain outstanding borrowings. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Repayment of borrowings

88.8%

General corporate purposes

11.1%

1

Repayment of borrowings

The company will use ₹600 crore to repay certain outstanding borrowings.

88.80%
2

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

11.10%

IPO Subscription Status

QIB
168.19x
NII
51.17x
Individual
13.98x
Total
66.01x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Karamtara Engineering

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Market leadership and scale

The company is India’s largest integrated manufacturer of solar mounting structures and tracker components with aggregate installed capacity of 889,200 MTPA, making it a preferred, reliable partner for large-scale renewable energy developers and major EPC companies.

02

Extensive backward integration

The company has in-house galvanising capabilities and rolling mill furnaces, which enable the company to make a large proportion of its raw materials in-house.

03

One-stop shop product portfolio

The company’s product portfolio comprises solar mounting systems, tracker piles, torque tubes, gearbox lattice towers, wind turbine towers and fasteners. This extensive catalogue allows customers to purchase multiple components from a single supplier, simplifying the procurement process and generating cross-selling revenue.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Geographic concentration

The company has 13 manufacturing facilities, majority of which are located in Tarapur, Maharashtra. 90.84%, 98.61% and 99.18% of total revenue from operations in FY26, FY25 and FY24 respectively, was from Maharashtra.

02

Dependency on solar industry

Solar energy products are still the largest revenue driver for the company contributing 78.99% of revenue from operations in FY26. Any slowdown in the solar energy industry, due to reduced demand, changes in government policies, environmental regulations or health and safety requirements, could decrease customer orders and business volume.

Contact Details

Karamtara Engineering

705, Morya Landmark II, New Link Road, Andheri (West), Mumbai, Maharashtra, 400053

+912240710000
investors@karamtara.com
https://karamtara.com/

Karamtara Engineering IPO - FAQs

Karamtara Engineering IPO is a Mainboard IPO. The issue is priced at 241-₹254. The minimum order quantity is 59 Shares. The IPO opens on 9 Sep, and closes on 11 Sep. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.








IPO Timeline

  • Pre Apply2026-09-08
  • Bidding Starts2026-09-09
  • Bidding Ends2026-09-11
  • Allotment Finalisation2026-09-15
  • Release of Funds2026-09-16
  • Demat Transfer2026-09-16
  • Listing2026-09-17
04

Global footprint and export reach

The company’s products are sold in over 50 countries across North America, Europe, Asia, Africa, Australia and Latin America.

05

Strong international client base

Karamtara is a supplier of 16 out of the top 24 EPC companies in the US and has a diversified international client base. The result is a constant rise in the average income per customer on solar products, fuelled by deep and long-lasting commercial relationships.

06

High customer retention

The company has an insignificant customer rejection rate of 0.14% in FY26 on account of outstanding quality standards. Nearly half of its operating revenues are from customers who have been with the company for two years or more.

07

Strategic manufacturing network

13 manufacturing plants strategically located in Maharashtra, Gujarat and Italy near key transport networks. This geographic placement provides major operational synergies and reduces freight expenses.

03

Export revenue exposure

Export revenue accounted for 40.5%, 51.3% and 57.5% of total revenue from operations in FY26, FY25 and FY24 respectively. This exposes the business to foreign currency movements, changes in trade policies, tariffs, export controls and regulatory requirements in different countries.

04

Risk of import duties and restrictions

The company imports materials from time to time including steel billets, galvanized/galvalume/zinc aluminium magnesium coated coils and steel wire rods from countries such as Vietnam and South Korea. Increased costs or restricted availability of these materials may result from any restrictions imposed by the Government of India.

05

Under-utilisation of capacity

Capacity utilisation is highly variable across facilities. In FY26, Unit Solar MMS, Bhachau was operated at 2.70% utilisation and Unit Wind Tubular Tower was operated at 20.55% utilisation. If these capacities are not adequately utilised for a long time, the company may not be able to earn adequate returns on its investments.