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KSH International IPO is a bookbuilt issue of ₹710.00 crore. It combines a fresh issue of 1.09 crore shares aggregating to ₹420.00 crore and an offer for sale of 0.76 crore shares aggregating to ₹290.00 crore.
The IPO opens for subscription on December 16, 2025 and closes on December 18, 2025. The allotment is expected to be finalised on Friday, December 19, 2025. The price band for the IPO is set at ₹365 to ₹384 per share, and the minimum lot size for an application is 39 shares.
Company Summary
Incorporated in 1979, KSH International Limited is the third-largest manufacturer and the largest exporter of magnet winding wires in India. KSH International operates under the ‘KSH’ brand and supplies to OEMs across sectors like power, renewables, railways, automotive, and industrials.
The company’s key products include round enamelled copper/ aluminium magnet winding wires, paper insulated rectangular copper/ aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/aluminium magnet winding wires and bunched paper insulated copper magnet winding wires.
KSH International is the approved supplier to major public and private entities such as PGCIL, NTPC, NPCIL, and RDSO, and exports to 24 countries, including the USA, Germany, the UAE, and Japan. The company has three manufacturing facilities in Maharashtra (Taloja and Chakan) with a total annual capacity of 29,045 MT. A fourth plant is under development in Supa, Ahilyanagar, expected to begin operations in Fiscal 2026. The in-house R&D and engineering team drives product innovation, process improvements, and cost efficiency and hold key certifications including ISO 9001, ISO 14001, ISO 45001, and IATF 16949.
KSH International is committed to quality and reliability, earning awards from major customers such as Toshiba T&D Systems India, GE Power Grid Solutions, and BHEL.
As of June 30, 2025, the company has 157 full-time employees.
Company Strengths
- One of the leading manufacturers of magnet winding wires in India, with a comprehensive suite of products used across multiple end-use industries.
- Large, strategically located manufacturing facilities with a focus on advanced technologies and new product and process development.
- Long-standing relationships with our diversified customer base, both domestically and globally.
- Proven track record with necessary certifications and accreditations in an industry that has high barriers to entry.
- Experienced Promoters and Senior Management team.
Company Financials
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 793.28 | 744.91 | 482.71 | 359.18 |
| Total Income | 562.6 | 1,938.19 | 1,390.5 | 1,056.6 |
| Profit After Tax | 22.68 | 67.99 | 37.35 | 26.61 |
| EBITDA | 40.28 | 122.53 | 71.46 | 49.9 |
| Net Worth | 321.47 | 298.55 | 230.95 | 193.66 |
| Reserves and Surplus | 293.07 | 270.14 | 225.26 | 187.97 |
| Total Borrowing | 379.39 | 360.05 | 206.81 | 120.35 |
| Amount in ₹ Crore | ||||
Objectives of IPO
- Repayment of certain company borrowings
- Purchase and setup of new machinery at 2 plants
- Purchase and setup of a rooftop solar power plant for power generation at our Supa Facility
- General corporate purposes
Promoters of the company
The company promoters are Mr. Kushal Subbayya Hegde, Mr. Pushpa Kushal Hegde, Mr. Rajesh Kushal Hegde, Mr. Rohit Kushal Hegde, Mrs. Rakhi Girija Shetty, Dhaulagiri family trust, Everest family trust, Makalu family trust, Broad family trust, Annapurna family trust, Kanchenjunga family trust, and Waterloo Industrial Park VI private limited.
IPO Details
| IPO Date | December 16, 2025 to December 18, 2025 |
| Listing Date | December 23, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹365 to ₹384 per share |
| Lot size | 39 shares |
| Total Issue size | 1,84,89,583 shares (aggregating upto ₹710.00 Cr ) |
| Fresh Issue | 1,09,37,500 shares (aggregating upto ₹420.00 Cr ) |
| Offer for Sale | 75,52,083 shares of ₹5 (aggregating upto ₹290.00 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 5,68,18,200 shares |
| Share Holding Post Issue | 6,77,55,700 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 39 | ₹14,976.00 |
| Retail (Max) | 13 | 507 | ₹1,94,688.00 |
| S-HNI (Min) | 14 | 546 | ₹2,09,664.00 |
| S-HNI (Max) | 66 | 2,574 | ₹9,88,416.00 |
| B-HNI (Min) | 67 | 2,613 | ₹10,03,392.00 |
Allotment Schedule
| Basis of Allotment | Fri, 19 Dec, 2025 |
| Initiation of Refunds | Sat, 20 Dec, 2025 |
| Credit of Shares to Demat | Sat, 20 Dec, 2025 |
| Tentative Listing Date | Tue, 23 Dec, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Offer size |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15% of the Offer |
Source – SEBI, Chittorgarh
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