KSH International IPO allotment LIVE: The initial public offering (IPO) of KSH International Ltd, a manufacturer of magnet winding wires, remained undersubscribed at the close of bidding on Thursday. The IPO was booked 83% at the end of the three-day bidding process from December 16 to December 18.
Among the investor categories, the Qualified Institutional Buyers (QIBs) segment was fully subscribed at 1.06 times. The Retail Individual Investors (RIIs) portion was subscribed 86%, while the Non-Institutional Investors (NIIs) category saw a subscription of 42%.
Following the subscription, the share allotment status for the KSH International IPO is expected to be fixed on December 19.
However, as the IPO has failed to reach the required 90% subscription as per the SEBI guidelines, KSH International is likely to extend the issue period or the underwriters step in.
The ₹710 crore KSH International IPO was priced in the range of ₹365 to ₹384 per share and comprises a fresh issue of equity shares worth ₹420 crore along with an offer-for-sale (OFS) of ₹290 crore by the promoters.
The proceeds from the fresh issue will be utilised to repay debt, install new machinery for capacity expansion at its Supa facility, and set up additional machinery at its Chakan plant near Pune. Part of the funds will also be allocated towards setting up a rooftop solar power plant at the Supa unit and for general corporate purposes.
KSH International IPO GMP
KSH International IPO is witnessing a muted grey market premium (GMP) trend. KSH International IPO GMP stood at ₹0. This means that shares of KSH International are trading at par with the offer price in the grey market.
Shares of KSH International IPO are slated to list on BSE and NSE on December 23.
About KSH International
Founded in 1981, KSH International is part of the KSH Group and began operations with the manufacture of magnet winding wires in Raigad, Maharashtra.
KSH International serves 117 customers, including Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd, Georgia Transformer Corporation, Hitachi Energy India, and Siemens Energy India. The company also has a strong global presence, exporting to 24 countries such as the US, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh, and Japan, as of December 31, 2024.
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