KSH International IPO GMP Stays Flat As Subscription Enters Its Final Day

The initial public offering (IPO) of KSH International was subscribed 0.26 times on the second day of bidding on Dec. 17. The IPO received bids for 35,24,742 shares against 1,36,16,438 offered.

The Qualified Institutional Buyers (QIBs) bid for 1,638 shares against 38,90,410 offered.

The Non-Institutional Investors’ (NIIs) category was subscribed 0.13 times. Retail investors booked their quota 0.46 times. 

Here's all you need to know as subscription for the KSH International IPO enters its final day.

According to InvestorGain, the GMP for the KSH International IPO was nil on Dec. 18. It indicates a flat listing for the offer.

The GMP for the mainboard IPO has remained flat since the price band was announced. They grey market premium for the IPO closed at Rs 6 on the opening day of bidding but has declined to NIL since then.

Note: GMP does not represent official data and is based on speculation.

The KSH International IPO is a book build issue of Rs 710 crore, consisting of a fresh issue of 1.09 crore shares worth Rs 420 crore and an offer-for-sale (OFS) of 76 lakh shares amounting to Rs 290 crore.

To participate in the IPO, retail investors are required to bid for a single lot size of 39 shares, leading to an investment of Rs 14,976. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,664. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,03,392.

The price band for the IPO is set at Rs 365 to Rs 384 per share.

Investors can bid for shares in the IPO from Dec. 16 to Dec. 18, with the allotment expected to be finalised on Dec. 19. The company will transfer shares to the demat accounts of successful bidders on Dec. 22 and refunds for non-allottees will be done on the same day. 

The shares of the company are scheduled to list on the BSE and NSE on Dec. 23.

Nuvama Wealth Management Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.

The share allotment status is expected to be finalised on Dec. 19. The company will transfer shares to the demat accounts of successful bidders on Dec. 22 and refunds for non-allottees will be done on the same day. 

The shares of the company are scheduled to list on the BSE and NSE on Dec. 23.

The company will use proceeds from the IPO to clear debt, buy and set up new machinery and a rooftop solar power plant and for general corporate purposes.

KSH International is the third-largest manufacturer and the largest exporter of magnet winding wires in India. It was established in 1981. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.