Home / Business and Economy / KSH International IPO Subscribed 15% on Day 1; Anchor Book Strong
KSH International IPO Subscribed 15% on Day 1; Anchor Book Strong
16 Dec
Summary
- KSH International IPO saw 15% subscription on its first day.
- The company aims to fund debt repayment and expansion through the IPO.
- Anchor investors, including major funds, invested ₹213 crore.
KSH International, a notable manufacturer of magnet winding wires, initiated its Initial Public Offering (IPO) on December 16, with a subscription rate of 15% by the end of the first day. The bidding period is scheduled to conclude on December 18, providing investors additional opportunities to participate. Notably, the company secured ₹213 crore from anchor investors, including prominent entities like HSBC Global Investment Funds and HDFC Mutual Fund, before the public sale.
The generated funds are earmarked for crucial corporate objectives. These include servicing outstanding debt, enhancing machinery at its Supa and Chakan manufacturing units, and installing a rooftop solar power system at the Supa facility. KSH International, established in 1981, boasts a diverse clientele of 117 customers, including major players like BHEL and Siemens Energy India, and also engages in exports to 24 countries.
Currently operating three manufacturing sites, KSH International plans to open a fourth facility in Supa by fiscal year 2026. The company's shares are anticipated to be listed on both the BSE and NSE on December 23. The IPO's price band is set between ₹365 to ₹384 per share, with applications accepted in lots of 39 shares.
