KSH International share price: Stock lists at 3.65% discount on NSE, BSE; here's how much investors lost per lot

KSH International share price: Shares of magnet winding wires maker KSH International made a weak debut on the stock exchanges on Tuesday, December 23.

The stock listed at ₹370 per unit on the National Stock Exchange (NSE) and the BSE, reflecting a discount of 3.65% against the IPO issue price of ₹384.

KSH International share price: Here's how much investors lost

A lot consisted of 39 shares. Investors who received KSH International IPO allotment saw their investment value drop to ₹14,430 per lot.

The initial public offering fetched 83% subscription, with bids for 1,12,35,627 shares compared to 1,36,16,438 equity shares on offer, as per the NSE data.

Only the part reserved for qualified institutional buyers (QIBs) was fully subscribed (1.06 times). The retail individual investors' (RIIs) quota was subscribed 86%, while the non-institutional investors' (NIIs) category was booked 42%.

The ₹710 crore initial share sale consisted of a fresh issuance of shares aggregating to ₹420 crore and an offer-for-sale (OFS) component worth ₹290 crore by promoters. It had a price band of ₹365 to ₹384 per share.

Fresh issue proceeds will be used for debt repayment, setting up of new machinery at two facilities, establishing rooftop solar plant and corporate general purposes.

Before the IPO, the company collected ₹213 crore from anchor investors, including Kotak Mahindra Life Insurance Company, HSBC Global Investment Funds, Edelweiss Life Insurance Company, HDFC Mutual Fund (MF), Bank of Baroda MF, LIC MF, Kotak MF and Societe Generale.

KSH International Ltd commenced its operations in 1981 by producing magnet winding wires in Maharashtra's Raigad. In the last four decades, it has diversified its operations to make an array of standard and specialised magnet winding wires. The firm sells its products under the brand 'KSH'.

Its customers include Bharat Heavy Electricals Ltd, Georgia Transformer Corporation, Bharat Bijlee, Siemens Energy India, Hitachi Energy India and Virginia Transformer Corporation.