KSH International fixes price band for its ₹710 crore IPO

CNBC TV18

KSH International, a manufacturer of magnet winding wires, has announced that its ₹710 crore initial public offering (IPO) will open for subscription on Friday, December 12, and close on December 16.

Price band for the issue has been fixed between ₹365 to ₹384 per share. KSH International shares will have a face value of ₹5 each.

Retail investors can apply for one lot of 39 shares in the IPO, which will entail a minimum investment of ₹14,976. Applications can then be made in multiples of 39 shares thereafter.

For Small HNIs, the minimum bid lot size will be 546 shares and will entail a minimum investment of ₹2,09,664, while for big HNIs, the minimum lot size is 2,613 shares and will entail a minimum investment of ₹10 lakh.

At the higher end of the price band, KSH International will have a post-listing market capitalisation of ₹2,602 crore.

The upcoming IPO will consist of a fresh issue of ₹420 crore and an offer-for-sale of up to ₹325 crore by promoters Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde and Rohit Kushal Hegde.

KSH International has completed its pre-IPO placement of about ₹35 crore.

In consultation with its book running lead managers, the company allotted 9.11 lakh equity shares through a private placement at ₹384 per share, including a premium of ₹379. The round saw participation from Malabar India Fund, Jabeen Ajay Menon, Ajay Menon, Sunil Nagayya Shetty, Salil Ajay Bhargava and Rupal K Sancheti.

Malabar India Fund received 8.51 lakh shares on December 8 at ₹384 apiece, amounting to ₹32.7 crore. Rupal K Sancheti was allotted 39,062 shares worth ₹1.5 crore, while Salil Ajay Bhargava received 13,021 shares totalling ₹0.5 crore.

KSH International is among India’s leading magnet winding wire manufacturers and, according to a CARE report, is expected to be the country’s largest exporter in this segment by export revenue in FY25.

The company began operations in 1981 with a manufacturing facility in Taloja, Raigad, Maharashtra. Over the past four decades, it has expanded into producing a wide range of standard and specialised magnet winding wires tailored to specific customer requirements.