KSH International IPO GMP trades flat a day ahead of share listing

KSH International shares to list on December 23. 

KSH International initial public offering (IPO) grey market premium (GMP) is trading flat a day ahead of its listing on the exchanges on December 23.

According to platforms tracking grey market activity, including Investorgain and IPO Watch, the company’s shares are commanding a flat premium in the unregulated market.

The IPO of KSH International Ltd, a manufacturer of magnet winding wires, was subscribed 83 percent on the final day of bidding on Thursday. Earlier, the company had raised Rs 213 crore from anchor investors.

The Pune-based firm’s Rs 710 crore IPO was priced in the range of Rs 365 to Rs 384 per share.

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Proceeds from the fresh issue are proposed to be used for repayment of debt, installation of new machinery for expansion at its Supa facility, and purchase and installation of machinery at its Chakan facility in Maharashtra.

Part of the funds will also be utilised for setting up a rooftop solar power plant at the Supa facility and for general corporate purposes.

KSH International, part of the KSH group, began operations in 1981 with the manufacture of magnet winding wires at Raigad in Maharashtra. Over the years, it has diversified into the production of various standard and specialised magnet winding wires.

The company markets its products under the ‘KSH’ brand.

It has 117 customers, including Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd, Georgia Transformer Corporation, Hitachi Energy India and Siemens Energy India.

KSH International exports its products to 24 countries, including the US, the UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh and Japan, as of December 31, 2024.

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