KSH International IPO closes today; subscription lags at 35%, GMP flat

KSH International IPO comprises a fresh issue of 10.9 million shares worth up to ₹420 crore and an OFS of 7.6 million equity shares worth up to ₹290

KSH International IPO Day 3 subscription status: With the subscription window set to close today, the initial public offering (IPO) of winding wires manufacturer KSH International has received muted investor demand. The public issue has been subscribed only 35 per cent so far.

 

As per NSE data, the KSH International IPO received bids for 4.8 million shares against 13.61 million shares on offer as of 12:00 PM on December 18. This translates into an overall subscription of 35 per cent.

 

The portion reserved for retail investors was subscribed 62 per cent, followed by non-institutional investors (NIIs) at 20 per cent. However, the issue failed to secure any bids from qualified institutional buyers (QIBs).

KSH International IPO GMP today

The muted market mood was also mirrored in the grey market. KSH International’s unlisted shares were trading flat at ₹384, the upper price band, on the final day of bidding.

KSH International IPO details

The ₹710-crore IPO comprises a fresh issue of 10.9 million shares worth up to ₹420 crore and an offer for sale (OFS) of 7.6 million equity shares worth up to ₹290. The public issue is priced in the ₹365–₹384 per share range with a lot size of 39 shares. A retail investor needs a minimum of ₹14,976 to apply for one lot and ₹1,94,688 for the maximum 13 lots.

 

According to the red herring prospectus (RHP), the company plans to utilise ₹226 crore from the net fresh issue proceeds for prepayment or repayment of certain outstanding borrowings. Additionally, ₹102.4 crore will fund capex for purchasing and setting up new machinery at its Supa facility and Unit 2 in Chakan, Pune. Around ₹8.8 crore will be used for a rooftop solar plant at the Supa facility, while the remaining funds, the company said, will be used for general corporate purposes.

 

MUFG Intime India is the registrar for the issue. Nuvama Wealth Management and ICICI Securities are the book-running lead managers.

KSH International IPO timeline

With the subscription closing today, the basis of allotment is expected to be finalised on Friday, December 19. Successful bidders may receive shares in their demat accounts by December 22. KSH International is scheduled to list on the BSE and NSE on Tuesday, December 23, marking its debut on Dalal Street.