KSH International IPO – Company Overview
KSH International IPO is a Mainboard IPO and a book-building issue worth Rs. 710 crore by KSH International Ltd. The company is India’s largest exporter and the third-largest manufacturer of magnet wrapping wires. Operating under the “KSH” brand, the company supplies OEMs across multiple sectors such as power, renewable energy, railways, automobiles, and industrial applications.
KSH International’s key product portfolio includes:
- Round enamelled copper/aluminium magnet winding wires
- Rectangular enamelled copper/aluminium magnet winding wires
- Paper-insulated rectangular copper/aluminium magnet winding wires
- Continuously transposed conductors
Bunched paper-insulated copper magnet winding wires
KSH International IPO Details
The KSH International Ltd IPO opens on 16 December and closes on 18 December. The IPO allotment is scheduled for 19 December, while refunds will be initiated on 22 December 2025.
This Rs. 710 crore mainboard IPO consists of:
- Fresh issue: 1.09 crore shares aggregating to Rs. 420 crore
- Offer for sale (OFS): 0.76 crore shares aggregating to Rs. 290 crore
The KSH International IPO listing date is expected to be Tuesday, 23 December 2025, with shares proposed to be listed on both BSE and NSE. The price band for the IPO is fixed at Rs. 365 to Rs. 384 per share.
| Events | Date |
| IPO Opening Date | December 16, 2025 |
| IPO Closing Date | December 18, 2025 |
| IPO Allotment Date | December 19, 2025 (Tentative) |
| Refund Initiation | December 22, 2025 (Tentative) |
| Tentative IPO Listing Date | December 23, 2025 |
Industry Outlook
Company Financial
(Amount in Cr)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 744.91 | 482.71 | 359.18 |
| Total Income | 1,938.19 | 1,390.50 | 1,056.60 |
| PAT | 67.99 | 37.35 | 26.61 |
| EBITDA | 122.53 | 71.46 | 49.90 |
| Net Worth | 298.55 | 230.95 | 193.66 |
| Reserves & Surplus | 270.14 | 225.26 | 187.97 |
| Total Borrowing | 360.05 | 206.81 | 120.35 |
Cash Flows
The cash flows from the company’s different activities are presented below:
(Amount in Mn)
| Net Cash Flow In Multiple Activities | FY25 | FY24 | FY23 |
| Net Cash Flow Operating Activities | (97.74) | (172.32) | 620.89 |
| Net Cash Flow Investing Activities | (1,183.62) | (388.09) | (199.87) |
| Net Cash Flow Financing Activities | 1,228.91 | 674.32 | (406.07) |
Revenue Bifurcation
(Source RHP)
Objectives of the Issue
- Repayment of certain borrowings of the company – Rs. 225.98 Cr
- Purchase and installation of new machinery at two plants – Rs. 87.02 Cr
- Purchase and installation of a rooftop solar power plant for power generation at the Supa facility – Rs. 8.83 Cr
Click to check the IPO application status.
Listed Peers of KSH International Ltd.
| Company Name | Face Value (₹) | EPS (₹) | P/E (x) |
| Precision Wires India Limited | 1 | 5.04 | 50.60 |
| Ram Ratna Wires Limited | 5 | 15.06 | 40.37 |
Valuation
| KPI | Values |
| ROE | 22.77% |
| ROCE | 16.60% |
| Debt-to-Equity | 1.17 |
| RoNW | 22.77% |
| PAT Margin | 3.51% |
| EBITDA Margin | 6.35% |
| Price to Book Value | 7.31 |
Evaluation of P/E Ratio
At the upper end of the IPO price band of Rs. 384, the company is valued at a P/E multiple of 32.08x, based on an FY25 earnings per share (EPS) of Rs. 11.97. This valuation reflects how much investors are paying for each rupee of the company’s current earnings at the time of the IPO.
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IPO Strengths
- One of the leading manufacturers of magnet wrapping wires in India, with a diversified product range catering to multiple end-use industries.
- Large and strategically located manufacturing facilities, with a strong focus on new product development, process improvements, and adoption of advanced technologies.
- Long-standing relationships with a broad base of domestic as well as international customers.
- Proven operational track record, supported by necessary certifications and accreditations in an industry that has high entry barriers.
IPO Weaknesses
- The cost and availability of products may be adversely affected by shortages or volatility in key raw materials such as copper, aluminium, paper, and enamel.
- A substantial portion of revenue is generated from the sale of specialised magnet winding wires; any slowdown in demand for these core products could materially impact the company’s performance.
- Manufacturing facilities are critical to operations, and any disruption, shutdown, or operational issue at these plants could have a significant adverse effect on the company’s financial health.
KSH International IPO GMP
KSH International IPO GMP is ₹-2 as of 23 December 2025 while updating this information.
KSH International Limited IPO Summary
| IPO Opening & Closing Date | Dec 16, 2025 to Dec 18, 2025 |
| Face Value | Rs. 5 per Share |
| Issue Price | Rs. 365 to Rs. 384 |
| Lot Size | 39 Shares |
| Issue Size | 1,84,89,583 Shares (Rs. 710 Cr) |
| Offer for Sale | 75,52,083 Shares (Rs. 290 Cr) |
| Fresh Issue | 1,09,37,500 Shares (Rs. 420 Cr) |
| Listing At | BSE, NSE |
| Issue Type | Book Built Issue IPO |
| Registrar | MUFG Intime India Pvt. Ltd. |
KSH International IPO Lot Size
The KSH International Ltd IPO offers retail investors the opportunity to apply for a minimum of 1 lot, comprising 39 shares, with an investment amount of Rs. 14,976. Retail investors can apply for a maximum of 13 lots, or 507 shares, amounting to Rs. 1,94,688.
For S-HNI investors, the minimum application size is 14 lots, which equals 546 shares, requiring an investment of Rs. 2,09,664.
| Minimum Lot Investment (Retail) | 1 Lot |
| Maximum Lot Investment (Retail) | 13 Lots |
| SHNI (Minimum) | 14 Lots |
| SHNI (Maximum) | 66 Lots |
| BHNI (Minimum) | 67 Lots |
KSH International IPO Reservation
| Institutional Share Portion | 50% |
| Retail Investors' Share Portion | 35% |
| Non-Institutional Shares Portion | 15% |
KSH International IPO Allotment Status
To check the allotment status of the KSH International IPO, you can visit the official Registrar’s website or the BSE website. Here are the links for your reference:
- BSE Website - BSE IPO allotment status
You will need your PAN number or application details to check the allotment status.
Promoters And Management of KSH International Ltd.
- Mr. Kushal Subbayya Hegde
- Mrs. 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
- Waterloo industrial park VI private limited.
| Pre-Issue Promoter Shareholding | 98.40% |
| Post-Issue Promoter Shareholding | 71.37% |
KSH International IPO Lead Managers
- Nuvama Wealth Management Ltd.
- ICICI Securities Ltd.
Dividend Policy
The company has not declared any dividend in the past three financial years.
Conclusion
The KSH International IPO offers investors a chance to gain exposure to one of India’s leading magnet wire manufacturers, backed by strong financial growth and high entry barriers in the industry. However, potential investors should be aware of risks such as dependence on manufacturing plants and raw material price fluctuations. The company demonstrates strong ROE, expanding production capacity, and good visibility of industry demand, making it an attractive opportunity for long-term investors.
To Read the Prospectus of the Company and Click Here to Download the DRHP
