KSH International was incorporated on July 30, 1979. The company is the third-largest manufacturer of magnet winding wires in India by production capacity in FY24 and the largest exporter by export revenue. It manufactures various types of copper and aluminum magnet wires used in transformers, motors, and generators, serving sectors like power, railways, renewables, and automotive
| Bidding Dates |
|---|
| 16 Dec 2025 - 18 Dec 2025 |
| Subscription |
|---|
| 0.83x Undersubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,235 | 1 | 13 | 39 | 16.8 M | ₹365 - ₹384 | 75.23 % | ₹6125.6 M - ₹6444.5 M | RHP DOC |
KSH International IPO SUBSCRIPTION STATUS
18 Dec '25KSH International IPO overall subscription rate was 0.83 times the total available shares
KSH International IPO retail subscription rate was 0.86 times in the retail segment
KSH International IPO non-institutional investor subscription rate was 0.42 times in the non-institutional investor category
KSH International IPO Qualified Institutional Bidder subscription rate was 1.06 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
18 Dec 2025 (Day 3) | 0.86x | 0.42x | 1.06x |
17 Dec 2025 (Day 2) | 0.46x | 0.13x | - |
16 Dec 2025 (Day 1) | 0.27x | 0.06x | - |
KSH International FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 558.7 | 22.7 | 14.0 | -16.4 | 7.2% |
| FY25 | 1,928.3 | 68.0 | -9.8 | -129.9 | 6.4% |
| FY24 | 1,382.8 | 37.4 | -17.2 | -56.9 | 5.2% |
| FY23 | 1,049.5 | 26.6 | 62.1 | 40.0 | 4.8% |
KSH International IPO SUBSCRIPTION STATUS DETAILS
KSH International had 16.8 M shares on offer
KSH International IPO offer price was in the range ₹365 - ₹384
KSH International IPO minimum Investment was ₹14235
KSH International IPO issue size was ₹ 6125.6 M - ₹ 6444.5 M
KSH International had a minimum lot size of 39 Shares per application
KSH International NUMBER OF SHARES ON OFFER
KSH International IPO IMPORTANT DATES
| Issue Open Date | 16 Dec 2025 |
| Issue close Date | 18 Dec 2025 |
| Allotment Date | 19 Dec 2025 |
| Refund Date | 22 Dec 2025 |
| Demat Account Credit Date | 22 Dec 2025 |
| Listing Date | 23 Dec 2025 |
| Listing on Exchange(s) | NSE and BSE |
| KSH International Allotment Status | Exchange/ Registrar |
KSH International IPO subscription opened on 16 Dec 2025, and closed on 18 Dec 2025
IPO allotment for KSH International was finalized on Friday, 19 Dec 2025
IPO listing for KSH International was on NSE and BSE on Tuesday, 23 Dec 2025
KSH International IPO LISTING GAINS
| Issue Price (adjusted) | 384.0 |
| Listing Open Price | 370.0 |
| Listing Close Price | 355.0 |
| Listing Gain% | -3.6% |
| Current Gain% | 134.3% |
KSH International Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KSH International Ltd. | 899.9 | 6097.3 | 55.4 | 0.9 | 2 | 13.6 | 8.3 | 3128.4 | 61.4 | 110.1 | 62 | 16.3 | 62 |
| Solar Industries India Ltd. | 18650 | 168764 | 100.6 | 2.6 | 17.2 | 26.7 | 15.4 | 9965.7 | 30.9 | 1677.6 | 38.7 | 185.4 | 38.7 |
| PTC Industries Ltd. | 19076 | 28599.7 | 281.6 | 4.2 | 47.4 | 6.7 | 5.2 | 643.3 | 88 | 101.6 | 66.4 | 67.7 | 66.4 |
| Inox India Ltd. | 1954.7 | 17741.5 | 69.6 | 8 | 11 | 23.1 | 12.8 | 1632.3 | 21.2 | 257.9 | 14.1 | 28.1 | 8.7 |
| Precision Wires India Ltd. | 413.8 | 7564.6 | 48.7 | 0.7 | 1.4 | 20.1 | 6.9 | 5463.4 | 35.4 | 155.3 | 72.4 | 8.5 | 72.4 |
| Kennametal India Ltd. | 3308.6 | 7271.7 | 52.5 | 1.5 | 5.4 | 13.8 | 10.6 | 1184.7 | 6.6 | 102.9 | -6.9 | 63 | 35.9 |
KSH International INFORMATION ON IPO ISSUE
About KSH International
KSH International was incorporated on July 30, 1979. The company is the third-largest manufacturer of magnet winding wires in India by production capacity in FY24 and the largest exporter by export revenue. It manufactures various types of copper and aluminum magnet wires used in transformers, motors, and generators, serving sectors like power, railways, renewables, and automotive
Object of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company
- Funding the capital expenditure requirements of the company
- Funding the capital expenditure requirements of the company towards purchasing and setting up of a rooftop solar power plant for power generation at the Supa Facility
- General corporate purposes
KSH International - PROMOTERS
| Name |
|---|
| Kushal Subbayya Hegde |
| Pushpa Kushal Hegde |
| Rajesh Kushal Hegde |
| Rohit Kushal Hegde |
| Rakhi Girija Shetty |
KSH International - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Kushal Subbayya Hegde | Chairman & Executive Director |
| Rajesh Kushal Hegde | Managing Director |
| Rohit Kushal Hegde | Joint Managing Director |
| Rakhi Girija Shetty | Whole-time Director |
| Dinesh Hirachand Munot | Independent Director |
| Ajay Shriram Patil | Independent Director |
| Ram Kumar Tiwari | Independent Director |
| Indu Jacob | Independent Director |
KSH International Book Running Lead Manager
Nuvama Wealth Management Limited
ksh.ipo@nuvama.com
ICICI Securities Limited
ksh@icicisecurities.com
KSH International Registrar to the Offer
MUFG Intime India Private Limited
kshinternational.ipo@in.mpms.mufg.com
KSH International Strengths
Strategic manufacturing presence
The company operates three strategically located manufacturing facilities in Maharashtra, with a combined annual installed capacity of 29,045 metric tonnes. Two facilities are in Chakan, Pune, and one in Taloja, Raigad, located near Jawaharlal Nehru Port. This proximity to the port helps reduce logistics costs and improve overall operational efficiency
Strong customer relationships
The company has long-standing relationships with a diverse customer base across sectors like power, industrials, automotive, data centers, and appliances. It has consistently served over 100 customers annually, with 97.34% of Fiscal 2024 revenue from repeat clients
Product development focus
The company emphasizes continuous new product and process development through collaboration with customer sourcing teams and internal engineering experts. Recent innovations include enamelled round and rectangular magnet winding wires tailored for electric vehicles and industrial use, reflecting the company’s commitment to technological advancement and its growing presence in emerging segments like EV traction motors
KSH International Risks
Raw material dependency
The company depends heavily on the uninterrupted supply and stable pricing of key raw materials such as copper, aluminium, enamel, paper, and packaging materials. Any disruption in supply or price escalation of these inputs could adversely affect its cost structure, product pricing, and overall financial performance
Sector concentration risk
A substantial share of the company’s revenue is derived from the power sector. Any downturn, reduced demand, or adverse policy change in this sector may significantly impact the company’s revenues, operations, and financial stability
Export market exposure
The company generates a significant portion of its revenue from exports. Any geopolitical instability, policy changes, trade restrictions, or failure to secure regulatory approvals in international markets may negatively affect its global operations, financial condition, and growth prospects
IPO FAQs
This IPO consists of an offer for sale of up to Rs 224.4 crore, of 5,845,001 shares. It also consists of a fresh issue of Rs 420.0 crore.
The promoters of the company are Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde, Rohit Kushal Hegde and Rakhi Girija Shetty.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 365.0 - 384.0.
The IPO application opens on Dec 16, 2025 and closes on Dec 18, 2025.
The minimum lot size for the IPO is 39. The maximum lot size for the IPO is 507.
For all category investors, the minimum application amount for this IPO is Rs. 14,235.0, the maximum value for this IPO is Rs 194,688.0.
This IPO will be allotted on Dec 19, 2025.
The refund will be credited to your account on Dec 22, 2025.
The allotted shares will be credited to your demat on Dec 22, 2025.
KSH International Ltd.’s shares listed on the stock exchanges on Dec 23, 2025.