KSH International IPO listing tomorrow: What current GMP suggests
What's the story
KSH International Ltd, a leading manufacturer of magnet winding wires, is all set to make its debut on the stock exchanges on December 23. The company's initial public offering (IPO) was subscribed 83% on the last day of bidding. Earlier, KSH International had raised ₹213 crore from anchor investors for its ₹710 crore IPO.At the time of writing, the issue was trading at a zero premium in the grey market, indicating limited expectations of listing gains.
Pricing details
KSH International's IPO priced between ₹365 and ₹384 per share
The Pune-based company's IPO was priced at a range of ₹365 to ₹384 per share. The money raised through the fresh issue will be used for repaying debt, buying new machinery for expansion at its Supa facility, and purchasing and installing machinery at its Chakan facility in Maharashtra. Part of the funds will also go toward setting up a rooftop solar power plant at the Supa facility as well as general corporate purposes.
Company profile
KSH International's journey and customer base
Part of the KSH Group, KSH International started operations in 1981 with the production of magnet winding wires at Raigad in Maharashtra. Over time, it has diversified into manufacturing a range of standard and specialized magnet winding wires. The company sells its products under the 'KSH' brand name and serves 117 customers including Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd., Georgia Transformer Corporation, Hitachi Energy India, and Siemens Energy India.
Export markets
KSH International's global reach and export destinations
KSH International has a strong global presence, exporting its products to 24 countries. These include the US, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh, and Japan. The company's successful IPO and wide customer base are a testament to its growth and expansion in the magnet winding wire industry.