KSH International IPO subscribed 15 pc on Day 1

New Delhi, Dec 16 (PTI) The initial public offering of KSH International Ltd, manufacturer of magnet winding wires, got subscribed 15 per cent on the first day of share sale on Tuesday.

The three-day IPO received bids for 19,94,187 shares against 1,36,16,438 shares on offer, according to NSE data.

Retail Individual Investors (RIIs) category got subscribed 27 per cent while the quota for non-institutional investors received 6 per cent subscription.

KSH International on Monday said it has collected Rs 213 crore from anchor investors.

The Pune-based company's Rs 710 crore initial public offering (IPO) will conclude on December 18. It has fixed a price band of Rs 365-384 per share.

The IPO is a combination of fresh issue of shares worth Rs 420 crore and an offer-for-sale of stocks valued at Rs 290 crore by promoters.

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

A portion of funds will be also used for setting up a rooftop solar plant for power generation at its Supa facility, and for general corporate purposes.

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, 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. PTI SUM SUM ANU ANU