· Price Band fixed at ₹241 to ₹254 per equity share of face value of ₹10 each of Karamtara Engineering Limited (“Equity Shares”);
· The Floor Price is 24.10 times the face value of Equity Shares and the Cap Price is 25.40 times the face value of the Equity Shares;
· Bid /Offer will open on Wednesday, 09 September 2026 and close on Friday, 11 September 2026. The Anchor Investor Bidding Date is Tuesday, 08 September 2026;
· Bids can be made for a minimum of 59 Equity Shares and in multiples of 59 Equity Shares thereafter;
Mumbai | Karamtara Engineering Limited (the “Company”) will open the Bid / Offer in relation to its initial public offering of the Equity Shares on Wednesday, 09 September 2026. The Bid/Offer will close on Friday, 11 September 2026.
The Anchor Investor Bidding Date shall be Tuesday, 08 September 2026.
Bids can be made for a minimum of 59 Equity Shares and in multiples of 59 Equity Shares thereafter.
The Price Band has been fixed at ₹241 to ₹254 per Equity Share.
The total offer size is Up to 36,307,052 Equity Shares of face value of ₹10 each aggregating up to ₹8,750.00 million.
The Offer comprises of a Fresh Issue of up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹ ₹6,750.00 million and an Offer for sale of up to [●] Equity Shares aggregating up to ₹2,000.00 million. The Offer for Sale comprises up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹1,000.00 million by Tanveer Singh and up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹1,000.00 million by Rajiv Singh.
The Company, in consultation with the Book Running Lead Managers, undertook a pre-IPO placement of Compulsory Convertible Preference Shares (CCPS) aggregating to ₹ 750.00 million, as permitted under applicable law. The pre-IPO placement was at a price decided by the company, in consultation with the Book Running Lead Managers and was completed prior to filing of the Red Herring Prospectus with the ROC. The amount raised pursuant to the pre-IPO placement was reduced from the fresh issue, subject to compliance with rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE and NSE. For the purposes of the Offer, the Designated Stock Exchange shall be NSE.
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, “QIB Portion”), provided that our Company in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”). 40% of the Anchor Investor Portion shall be reserved as: (i) 33.33% for domestic Mutual Funds; and (ii) 6.67% for Life Insurance Companies and Pension Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations.
In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“QIB Portion”). Further, 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, (a) not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders (out of which one third shall be reserved for Bidders with Bids exceeding ₹ 0.20 million and up to ₹ 1.00 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 1.00 million), provided that the unsubscribed portion is either of sub categories may be allocated to Bidders in the other sub category of Non-Institutional Bidders and (b) not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (‘RIBs’) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders (defined hereinafter), which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be, to the extent of their respective Bid Amounts.
JM Financial Limited, ICICI Securities Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) are the Book Running Lead Manager’s to the issue.
Disclaimer:
Karamtara Engineering Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offer of its equity shares and has filed the red herring prospectus dated September 3, 2026 (“Red Herring Prospectus”) with the Registrar of Companies, Mumbai-I, at Mumbai. The Red Herring Prospectus is available on our website at www.karamtara.com as well as on the website of SEBI at www.sebi.gov.in, the websites of JM Financial Limited at www.jmfl.com, ICICI Securities Limited at www.icicisecurities.com and IIFL Capital Services Limited (formerly known as IIFL Securities Limited) at www.iiflcapital.com and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and refer to the Red Herring Prospectus, including the section titled “Risk Factors” beginning on page 19 of the Red Herring Prospectus, for details. Potential investors should not rely on the DRHP filed with SEBI and the Stock Exchanges for making any investment decision and should instead rely on the Red Herring Prospectus, for making investment decision. The Equity Shares in the Offer have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold outside of the United States to investors in offshore transactions as defined in and in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales occur.
