Karamtara Engineering’s ₹875‑crore IPO drew 66.01× overall subscription, with retail at 13.98× and institutional at 168.19×, while a 19% grey‑market premium suggests a debut above the ₹241‑₹254 band.
The firm allocated ₹675 crore to a fresh issue of 2.66 crore shares and ₹200 crore to an offer‑for‑sale of 78.74 lakh shares, earmarking ₹600 crore of fresh proceeds to retire existing borrowings, the rest earmarked for corporate expansion.
FY26 revenue climbed to ₹4,316.36 crore, up 78% from FY24, and net profit after tax surged 64% year‑on‑year to ₹228.75 crore, pushing the profit margin to 5.3% versus 4.4% in FY25.
The company’s backward‑integrated galvanising capacity of 2,58,000 tpa and its 0.5‑million‑tonne lattice tower output underpin a supply chain advantage that has helped it service 65 solar clients in FY26 and export to over 50 countries.
Shares will open on BSE/NSE on Thursday at ₹254 per share, the upper end of the band, with analysts eyeing a 3–4% first‑day gain, while the 19% GMP suggests a modest premium over the issue price.