KSH International IPO subscribed 24% so far on Day 2; check price band, lot size and timeline

KSH International IPO: Magnet winding wires manufacturer KSH International's initial public offering has been subscribed 24% so far on the second day of share sale on Wednesday, December 17.

The issue received bids for 32,31,774 shares compared to 1,36,16,438 shares on offer, according to NSE data until 2:30 pm.

The part reserved for retail individual investors (RIIs) received 43% subscription, while the portion for non-institutional investors (NIIs) got 11% subscription.

The ₹710 crore initial share sale, which will conclude on December 18, has set a price band of ₹365 to ₹384 per share.

The IPO is a mix of a fresh issue of shares aggregating to ₹420 crore and an offer-for-sale (OFS) of ₹290 crore by promoters Kushal Subbayya Hegde, Rajesh Kushal Hegde, Pushpa Kushal Hegde and Rohit Kushal Hegde.

Proceeds from the fresh issue will be used for debt repayment, setting up of new machinery for expansion at its Supa facility and purchasing and setting up of new machinery at Chakan, Pune in Maharashtra.

The money will also be used for setting up a rooftop solar plant for power generation at its Supa facility and for general corporate needs. A lot consists of 39 shares.

KSH International IPO: Timeline

KSH International, part of the KSH group, commenced its operations in 1981 by manufacturing magnet winding wires in Raigad, Maharashtra, and in the last four decades, it has diversified its operations to manufacturing various types of standard and specialised magnet winding wires.

It markets and sells its products through its brand 'KSH'.

The company has 117 customers, including the likes of Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd, Georgia Transformer Corporation, Hitachi Energy India, and Siemens Energy India.

Also, KSH International has a significant global footprint and exports its products to 24 countries, including the USA, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh and Japan, as of December 31, 2024.

KSH International IPO GMP

According to investorgain.com and media reports, KSH International's unlisted shares are trading at ₹390, reflecting a grey market premium of 1.56% over the upper price band of ₹384.