KSH International IPO Draws Attention Amidst Expansion Plans

KSH International Ltd, a Pune-based manufacturer of magnet winding wires, saw a 26% subscription to their IPO on its second day, aiming to raise Rs 710 crore. The funds will aid in debt repayment, facility expansions, and a new solar plant setup, bolstering their diverse product reach globally.

The initial public offering (IPO) of KSH International Ltd, a Pune-based manufacturer specializing in magnet winding wires, drew 26% subscription by its second official day on Wednesday.

According to data from the National Stock Exchange (NSE), there were bids for 3,524,118 shares compared to the 13,616,438 shares available in the market.

Retail individual investors demonstrated higher interest with a 46% subscription rate, whereas non-institutional investors subscribed at a rate of 13%.

Earlier in the week, KSH International successfully raised Rs 213 crore from anchor investors, setting the stage for a robust initial public offer valued at Rs 710 crore, concluding on Thursday.

The company's share price band is fixed between Rs 365 and Rs 384 per share.

This IPO blends a fresh issue of shares worth Rs 420 crore alongside a sale of stocks by promoters worth Rs 290 crore.

The capital raised is earmarked for reducing debt, expanding machinery at its Supa facility, and acquiring machinery at its Chakan plant in Pune.

Additionally, funds are allocated towards establishing a rooftop solar power plant at Supa and catering to general corporate purposes.

Since its inception in 1981, KSH International has evolved from manufacturing magnet winding wires solely to crafting standardized and bespoke wire products.

Renowned for its 'KSH' brand, the company boasts a clientele of 117 businesses, including Bharat Bijlee, Virginia Transformer Corporation, and Siemens Energy India, among others.

The firm's expansive operations reach clients across 24 countries, demonstrating significant global impact with exports to the USA, UAE, Germany, and more, as of December 31, 2024.

(With inputs from agencies.)