KSH International Ltd. announced the price band for its upcoming initial public offering. The IPO will open for subscription on Dec. 16 and close on Dec. 18. The anchor investor bid period will be open for subscription on Dec.15.
Price band for the IPO has been set at Rs 365 – Rs 384 per share, according to the Red Herring Prospectus filing on Thursday.
The initial public offering is a combination of a fresh issue of shares worth Rs 420 crore and an offer-for-sale of Rs 290 crore by promoters. Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde and Rohit Kushal Hegde are promoters off-loading shares and the scrip is set to list on both the NSE and BSE, as per the filing.
The lead book running managers for the issue are Nuvama Wealth Management Ltd. and ICICI Securities Ltd. The registrar of the IPO will be MUFG Intime India Pvt.
Proceeds from the fresh issue to the extent of Rs 225.98 crore will be used for payment of debt, Rs 90.06 crore will be used to set up new machinery for expansion at its Supa facility and purchasing and setting up of new machinery at Chakan, Pune in Maharashtra. The company also plans to use Rs 10.41 crore for setting up of a rooftop solar power plant at its Supa facility and a portion will be used for general corporate purposes.
KSH International, a part of the KSH group, commenced its operations in 1981 by manufacturing magnet winding wires in Raigad, Maharashtra, and in the last four decades, it has diversified its operations to manufacturing various types of standard and specialised magnet winding wires. It markets and sells its products through its brand ‘KSH’, with a strong brand recall and reputation in the industry over the years.
KSH International has a significant global footprint and exports its products to 24 countries, including, the US, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh and Japan.
The company operates three manufacturing facilities, out of which two of these facilities are located in Chakan and one in Taloja, Raigad.
KSH International’s revenue from operations increased to Rs 1,382.82 crore in fiscal 2024 from Rs 1,049.46 crore in the preceding financial year and profit after tax grew to Rs 37.35 crore from Rs 26.61 crore.
