KSH International IPO
Bookbuilding IPO | ₹710.00 Cr | Listing at NSE, BSE
IPO Open
Tue, Dec 16, 2025
IPO Close
Thu, Dec 18, 2025
Price Band
₹365.00 to ₹384.00
Market Cap (Pre-IPO)
₹2,601.82 Cr
IPO Details
| IPO Date | Dec 16, 2025 to Dec 18, 2025 |
| Listing Date | Tentative: Dec 23, 2025 |
| Face Value | ₹5.00 per share |
| Price Band | ₹365.00 to ₹384.00 |
| Lot Size | 39 Shares (Minimum: ₹14,976.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE, BSE |
| Issue Size | ₹710.00 Crores |
| Total Shares Offered | 18,489,583 shares |
| Fresh Issue | 10,937,500 shares |
| Offer For Sale | 7,552,083 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 1.12x |
| NII | 1.50x |
| RII | 0.91x |
| Total | 0.87x |
KSH International IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 92,44,792 (50.00%) |
| Retail Shares Offered | 64,71,354 (35.00%) |
| NII Shares Offered | 27,73,438 (15.00%) |
KSH International IPO Lot Size
Investors can bid for a minimum of 39 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 39 | ₹14,976 |
| Retail (Max) | 13 | 507 | ₹194,688 |
| S-HNI (Min) | 14 | 546 | ₹209,664 |
| S-HNI (Max) | 66 | 2,574 | ₹988,416 |
| B-HNI (Min) | 67 | 2,613 | ₹1,003,392 |
KSH International Financial Information (Restated Consolidated)
KSH International Ltd.'s revenue increased by 39% and profit after tax (PAT) rose by 82% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Jun 25 | 31 Mar 25 | 31 Mar 24 | 31 Mar 23 |
|---|---|---|---|---|
| Assets | 793.28 | 744.91 | 482.71 | 359.18 |
| Total Income | 562.60 | 1,938.19 | 1,390.50 | 1,056.60 |
| Profit After Tax | 22.68 | 67.99 | 37.35 | 26.61 |
| EBITDA | 40.28 | 122.53 | 71.46 | 49.90 |
| NET Worth | 321.47 | 298.55 | 230.95 | 193.66 |
| Reserves and Surplus | 293.07 | 270.14 | 225.26 | 187.97 |
| Total Borrowing | 379.39 | 360.05 | 206.81 | 120.35 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 22.77% |
| ROCE (Return on Capital Employed) | 16.60% |
| Debt/Equity | 1.17 |
| RoNW (Return on Net Worth) | 22.77% |
| PAT Margin (Profit After Tax Margin) | 3.51% |
| EBITDA Margin | 6.35% |
| Price to Book Value | 7.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 11.97 | 13.39 |
| P/E (x) | 32.09 | 28.68 |
| Promoter Holding | 98.40% | 71.36% |
Company Promoters
- The company promoters are Mr. Kushal Subbayya Hegde
- Mr. Pushpa Kushal Hegde
- Mr. Rajesh Kushal Hegde
- Mr. Rohit Kushal Hegde
- Mrs. Rakhi Girija Shetty
- Dhaulagiri family trust
- Everest family trust
- Makalu family trust
- Broad family trust
- Annapurna family trust
- Kanchenjunga family trust and Waterloo industrial park VI private limited.
Company Overview
Incorporated in 1979, KSH International Limited is India’s third-largest manufacturer and the largest exporter of magnet winding wires. Operating under the ‘KSH’ brand, the company supplies to OEMs across power, renewables, railways, automotive, and industrial sectors. Its product portfolio includes various copper and aluminium magnet winding wires and conductors. KSH is an approved supplier to major public and private entities and exports to 24 countries. The company operates three manufacturing facilities in Maharashtra with an annual capacity of 29,045 MT, with a fourth plant under development. Supported by in-house R&D and multiple quality certifications, KSH is recognized for its quality and reliability, with 157 employees as of June 30, 2025.
Company Strengths
1.One of the leading manufacturers of magnet winding wires in India, with a comprehensive suite of products used across multiple end-use industries. 2.Large, strategically located manufacturing facilities with a focus on advanced technologies and new product and process development. 3.Long-standing relationships with our diversified customer base, both domestically and globally. 4.Proven track record with necessary certifications and accreditations in an industry which has high barriers to entry. 5.Experienced Promoters and Senior Management team.
Use of Proceeds
1. Repayment of Certain Company Borrowings Estimated Amount: ₹225.98 Crore The Company intends to use a significant portion of the IPO proceeds to repay/prepay existing borrowings. This will lead to a reduction in overall debt levels and interest obligations. Lower finance costs are expected to improve profitability and cash flows. The repayment will strengthen the balance sheet, improve leverage ratios, and enhance financial flexibility. Reduced dependence on external borrowings will support long-term sustainable growth. 2. Purchase and Setup of New Machinery at Two Plants Estimated Amount: ₹87.02 Crore The Company plans to invest in new and advanced machinery at two of its manufacturing facilities. This capital expenditure will help increase production capacity and improve operational efficiency. The new machinery will support the manufacture of high-value and technologically advanced magnet winding wires. It will enable the Company to meet rising demand from sectors such as power, renewables, railways, automotive, and industrials. The investment is also expected to improve product quality, consistency, and cost efficiency. 3. Purchase and Setup of Rooftop Solar Power Plant at Supa Facility Estimated Amount: ₹8.83 Crore The Company proposes to install a rooftop solar power generation plant at its upcoming Supa manufacturing facility. This initiative aligns with the Company’s focus on sustainability and renewable energy adoption. The solar power plant will help reduce dependency on grid electricity, leading to lower power costs. It will contribute to energy efficiency, reduced carbon footprint, and long-term cost savings. The project supports environmentally responsible manufacturing practices. 4. General Corporate Purposes Estimated Amount: Balance amount The remaining proceeds will be utilized for general corporate purposes, which may include: Working capital requirements Administrative and operational expenses Strengthening systems, processes, and infrastructure Supporting business expansion and growth initiatives This will provide the Company with operational flexibility and enable efficient execution of its strategic objectives.
Objectives
The proposed utilisation of IPO proceeds reflects KSH International Limited’s focus on financial strengthening, capacity expansion, operational efficiency, sustainability, and long-term growth, positioning the Company to capitalize on increasing demand in domestic and global markets.
KSH International IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| KSH International Limited | 11.97 | 11.97 | 52.54 | - | 22.77 | - | Consolidated |
| Precision Wires India Limited | 5.04 | 5.04 | 32.25 | 50.60 | 15.63 | 4.13 | Consolidated |
| Ram Ratna Wires Limited | 15.06 | 15.04 | 110.74 | 40.37 | 14.39 | 4.90 | Consolidated |
Quick Info
| Sector | Electricals and Industrials |
| Exchange | NSE, BSE |
| Market Cap (Pre-IPO) | ₹2,601.82 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Dec 16, 2025 |
| IPO Close | Dec 18, 2025 |
| Allotment Date | Dec 19, 2025 |
| Credit to Demat | Dec 22, 2025 |
| Listing Date | Tentative: Dec 23, 2025 |
Lead Manager(s)
Nuvama Wealth Management Ltd.
Registrar
MUFG Intime India Pvt.Ltd.
+91-22-4918 6270
Description
KSH International IPO is a book build issue of ₹710.00 crores. The issue is a combination of fresh issue of 1.09 crore shares aggregating to ₹420.00 crores and offer for sale of 0.76 crore shares aggregating to ₹290.00 crores. KSH International IPO bidding opened for subscription on Dec 16, 2025 and will close on Dec 18, 2025. The allotment for the KSH International IPO is expected to be finalized on Dec 19, 2025. KSH International IPO will list on BSE, NSE with a tentative listing date fixed as Dec 23, 2025. KSH International IPO price band is set at ₹365.00 to ₹384.00 per share . The lot size for an application is 39. The minimum amount of investment required by an retail is ₹14,976 (39 shares) (based on upper price). The lot size investment for sNII is 14 lots (546 shares), amounting to ₹2,09,664, and for bNII, it is 67 lots (2,613 shares), amounting to ₹10,03,392.