KSH International mobilises Rs 213 cr from anchor investors

New Delhi, Dec 15 (PTI) KSH International, manufacturer of magnet winding wires, on Monday said it has collected Rs 213 crore from anchor investors ahead of its initial share sale opening for public subscription.

Some of the institutions that participated in the anchor round include HSBC Global Investment Funds, Societe Generale, Kotak Mahindra Life Insurance Company, Edelweiss Life Insurance Company, HDFC Mutual Fund (MF), Kotak MF, LIC MF and Bank of Baroda MF, according to a circular uploaded on BSE's website.

As per the circular, the company has allotted 55,46,874 equity shares at Rs 384 apiece to these anchor investors.

The Pune-based company's Rs 710 crore initial public offering (IPO)will open for subscription on December 16 and conclude on December 18. It has fixed a price band of Rs 365-384 per share.

Its proposed 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; setting up of a rooftop solar power plant for power generation at its Supa facility; and a portion will be used 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', which has a strong brand recall and reputation in the industry over the years.

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, Hind Rectifiers, Toshiba Transmission & Distribution Systems (India) Private Ltd, CG Power and Industrial Solutions Ltd and Emirates Transformer & Switchgear Ltd.

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.

The company operates three manufacturing facilities, out of which two of these facilities are located in Chakan, Pune and one in Taloja, Raigad.

Besides, there is an upcoming fourth facility in Supa, Ahilyanagar (formerly Ahmednagar), which is expected to commence operations in Fiscal 2026.

On the financial front, KSH International's revenue from operations stood at Rs 1,928.29 crore and net profit at Rs 68 crore in FY25. PTI SP BAL BAL