The initial public offering (IPO) of KSH International Ltd remained undersubscribed on the final day of bidding on Thursday, December 18. The ₹710-crore
mainboard issue was overall booked only 0.83 times.
The IPO attracted bids for more than 1.12 crore shares against 1.36 crore shares on offer, as per the NSE data. Following the subscription, the share allotment status for the KSH International IPO is expected to be finalised on December 19.
However, as the IPO has failed to reach the required 90% subscription as per the SEBI guidelines, KSH International is likely to extend the issue period.
The mainboard issue was open for subscription for three days, from December 16 to December 18.
The retail portion of the IPO was subscribed 0.86 times, while the Non-Institutional Investors’ (NIIs) category saw a subscription of 0.42 times. However, the Qualified Institutional Buyers (QIBs) segment was fully booked.
The IPO was a combination of a fresh issuance of 1.09 crore shares, worth ₹420 crore and an offer-for-sale (OFS) of 76 lakh shares, amounting to ₹290 crore. The IPO price band was fixed at ₹365 to ₹384 per share.
One of the major objectives of the IPO is to bolster the company’s balance sheet. About ₹225 crore of the IPO funds will be used for debt repayment. The company has also proposed to utilise a portion of the funds for the purchase and setup of new machinery at two plants, and for general corporate purposes.
The investors who applied for the IPO shares can check their allotment status online through the websites of the BSE and NSE and the issue registrar, MUFG Intime India Pvt. Ltd.
Steps to check KSH International IPO share allotment on the BSE:
- Visit the BSE IPO allotment page: https://bseindia.com/investors/appli_check.aspx
- Select 'Equity' as the issue type
- Choose ‘KSH International Ltd’ from the dropdown menu
- Enter your IPO application number or PAN to proceed
- Click on ‘Search’ to view your share allotment details
Steps to check KSH International IPO share allotment on the NSE:
- Visit the IPO allotment page on the NSE website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select the option 'Equity & SME IPO bid details'
- Under ‘Select Symbol’, click on ‘KSHINTL’
- Enter your application number and PAN to proceed
- Once entered, click on the ‘Submit’ button
Steps to check KSH International IPO allotment on MUFG Intime India:
- Visit the link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
- From the dropdown menu, select ‘KSH International Limited' from the list of companies
- Select any one of the PAN, Application Number, DP/Client ID or Account Number/IFSC to view your allotment status
- Enter the required details
- Click on 'Submit' to check the allotment status
Shares of KSH International are expected to be credited to the Demat accounts of successful bidders on Monday, December 22, while the refunds to all the non-allottees will also be initiated on the same day.
The listing date for the KSH International IPO has been tentatively fixed as December 23. Shares of the company will be listed on the BSE and NSE.
KSH International is a leading manufacturer and exporter of magnet winding wire. The company supplies its products under the KSH brand. It caters to the needs of original equipment manufacturers across sectors like power, renewables, railways, automotive, and industrials.
