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KSH International IPO: India's Wire Giant Goes Public
17 Dec
Summary
- KSH International aims to raise Rs 710 crore via IPO on December 16.
- The company is India's third-largest magnet winding wire manufacturer.
- IPO funds will reduce debt and expand manufacturing capacity.
KSH International, a prominent player in the magnet winding wires sector, is set to launch its Initial Public Offering (IPO) on December 16, aiming to secure Rs 710 crore. This significant fundraising effort is comprised of a fresh issue of Rs 420 crore and an offer for sale worth Rs 290 crore. The company is recognized as the third-largest manufacturer of magnet winding wires in India by production capacity.
The IPO, which will remain open until December 18, has set a price band of Rs 365-384 per share, with tentative listing dates on the NSE and BSE around December 23. Ahead of this public offering, KSH International successfully raised Rs 213 crore from anchor investors, including notable domestic and foreign financial institutions. This strong anchor backing underscores investor confidence in the company's prospects.
Proceeds from the IPO are earmarked for strategic growth initiatives, including a substantial portion for debt repayment and significant investment in capacity expansion through new machinery. A portion will also fund a rooftop solar power plant. Analysts suggest subscribing to the issue for long-term potential, citing the company's competitive advantages and favorable market tailwinds, despite some inherent business risks.
