KSH International's Rs 710 crore IPO to open on Dec 16; sets price band at Rs 365-384/ share

New Delhi, Dec 11 (PTI) KSH International, manufacturer of magnet winding wires, on Thursday said it is looking to raise Rs 710 crore through its Initial Public Offering (IPO), which will open for subscription on December 16.

The issue, with a price band of Rs 365-384 per share, will conclude on December 18. Anchor bidding will take place on December 15.

The Pune-based company's 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 its promoters, according to the red herring prospectus.

The 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 specialized 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 which includes 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, 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.

KSH International's revenue from operations stood at Rs 1,928.29 crore and net profit at Rs 68 crore in FY25.

Nuvama Wealth Management and ICICI Securities are the book-running lead managers.

The equity shares are proposed to be listed on the NSE and BSE. PTI SP DR DR