Home / Business and Economy / KSH International IPO Struggles: Muted Debut Despite Solid Fundamentals
KSH International IPO Struggles: Muted Debut Despite Solid Fundamentals
23 Dec
Summary
- KSH International shares debuted nearly 4% below IPO price.
- The IPO saw only 83% subscription, with low retail interest.
- Company adjusted OFS size post-issue to support allotment.
KSH International shares commenced trading on December 23, 2025, at a discount of nearly 4% to their Initial Public Offering (IPO) price, opening at Rs 370 on both BSE and NSE. This muted listing followed an IPO that achieved only 83% subscription, reflecting investor caution regarding valuations despite the company's established market position and operational history.
In an unusual post-listing maneuver, KSH International reduced its Offer for Sale (OFS) component from Rs 290 crore to Rs 224.4 crore while keeping the fresh issue of Rs 420 crore unchanged. This adjustment brought the total IPO size down to Rs 644.4 crore from the originally planned Rs 710 crore, aiming to improve allotment dynamics and post-listing performance.
The company, a leading magnet winding wire manufacturer since 1979, supplies critical components to sectors like power, renewable energy, and automotive, exporting to 24 countries. While demonstrating steady financial growth, its modest margins and existing leverage led to investor sensitivity over IPO pricing, now testing long-term conviction.
