KSH International's IPO Enters Market with 15% Subscription

KSH International Ltd's initial public offering (IPO) opened with 15% subscription on day one. The Rs 710 crore IPO features a new share issue and an offer-for-sale. Funds will aid debt repayment, machinery expansion, and solar plant installation. The company exports to 24 countries worldwide.

KSH International Ltd's initial public offering commenced with a 15% subscription on its opening day. The magnet winding wire manufacturer launched its three-day IPO, garnering nearly 2 million bids against 13.6 million shares available, according to data from the National Stock Exchange.

The IPO, which aims to raise Rs 710 crore, includes a fresh share issue worth Rs 420 crore and an offer-for-sale valued at Rs 290 crore by its promoters. The Pune-based company has earmarked proceeds for debt payment, expansion through new machinery at its Supa and Chakan facilities, and a rooftop solar plant setup.

Founded in 1981, KSH International continues to expand its reach, now exporting to 24 countries, and serving prominent clients like Bharat Bijlee and Hitachi Energy India. The share sale concludes on December 18, with a price band set between Rs 365-384 per share.

(With inputs from agencies.)