KSH International shares decline nearly 4 pc in trading debut

New Delhi, Dec 23 (PTI) Shares of KSH International Ltd, a manufacturer of magnet winding wires, on Tuesday listed with a discount of nearly 4 per cent against the issue price of Rs 384.

The stock started trading at Rs 370, a decline of 3.64 per cent from the issue price, on both the BSE and NSE.

At the BSE, the stock further dropped by 7.55 per cent to Rs 355.

On the NSE, it declined by 7.81 per cent to Rs 354.

The company's market valuation stood at Rs 2,437.85 crore.

KSH International's initial public offering (IPO) had a price band of Rs 365-384 per share.

The firm, 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, and Siemens Energy India. PTI SUM SUM DR DR