KSH International IPO Gets 26% Subscription On Day 2
The Pune-based company's Rs 710 crore initial public offering will conclude on Thursday. It has fixed a price band of Rs 365-384 per share.
The initial public offering of KSH International Ltd, a manufacturer of magnet winding wires, received 26% subscription on the second day of the share sale on Wednesday.
The IPO received bids for 35,24,118 shares against 1,36,16,438 shares on offer, as per NSE data.
The category for retail individual investors (RIIs) fetched 46% subscription, while the quota for non-institutional investors subscribed 13%.
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 will conclude on Thursday. 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 also be 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, and 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 Dec. 31, 2024.
