When does the KSH International IPO open and close?

The KSH International IPO opens on 16 Dec and closes on 18 Dec.

Where can I check the live subscription status of the KSH International IPO?

You can track the real-time subscription numbers using the links below: https://www.iposcanner.ai/ipo/ksh-international-ipo?tab=subscription

What is the issue size of the KSH International IPO?

The size of KSH International IPO is Total 1,84,89,583 shares(aggregating up to ₹710 crore) : #Fresh Issue : 1,09,37,500 shares(aggregating up to ₹420 crore) + #OFS : 75,52,083 shares(aggregating up to ₹290 crore).

What is the price band of the KSH International IPO?

The KSH International IPO price band is set between ₹365-384 per equity share.

What is the minimum investment for the KSH International IPO?

The minimum investment for the KSH International IPO is ₹14976.

What is the allotment date of the KSH International IPO?

The share allotment date of KSH International IPO is 19 Dec.

What is the KSH International IPO listing date?

The KSH International IPO will be listed on 23 Dec.

How to check KSH International IPO allotment status online?

Follow the steps to check the KSH International IPO allotment status online here: https://www.iposcanner.ai/ipo/ksh-international-ipo?tab=allotment

Who is the registrar for the KSH International IPO?

The registrar for the KSH International IPO is MUFG Intime India Pvt.Ltd.. You can check your allotment status on their official website.

KSH International

Open Date

16 Dec 2025

Close Date

18 Dec 2025

listed

Min Investment

₹14976

Lot Size

39 Shares

Issue Size

₹710 Cr

Price Range

₹365 - ₹384

Listing Date

Dec 23, 2025

IPO Doc

RHP PDF

About KSH International

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Incorporated in 1979, KSH International Limited is the third-largest manufacturer and the largest exporter of magnet winding wires in India as per the CARE Report. KSH International operates under the brand ‘KSH’ and supplies to OEMs across sectors like power, renewables, railways, automotive, and industrials. The product range encompasses enamelled round and rectangular wires, paper insulated wires, continuously transposed conductors (CTC), and bunched insulated copper wires.KSH International are the approved suppliers to major public and private entities like PGCIL, NTPC, NPCIL, and RDSO, and export to 24 countries including the USA, Germany, UAE, Japan, etc. 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 holds key certifications including ISO 9001, ISO 14001, ISO 45001, and IATF 16949.Quality and Reliability form the core values at KSH International, which has earned awards from prestigious customers like Toshiba T&D Systems India, GE Power Grid Solutions, and BHEL.

Checklist Quality Analysis

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹0GMP

KSH International IPO - Issue Objectives

The company will use ₹225.98 crore towards pre-payment in full or part of certain borrowings. ₹87.01 crore will be used to buy new machinery for expansion at the Supa and Chakan plants. ₹8.83 crore will be used to purchase and set up a rooftop solar power plant at the Supa Facility. IPO funds cover general corporate needs and unannounced acquisitions

Repayment of borrowings

53.8%

Purchase new machinery

20.7%

Capex for solar power plant

2.1%

General corporate purposes

23.3%

Repayment of borrowings

The company will use ₹225.98 crore towards pre-payment in full or part of certain borrowings.

53.80%

Purchase new machinery

₹87.01 crore will be used to buy new machinery for expansion at the Supa and Chakan plants.

20.70%

Capex for solar power plant

₹8.83 crore will be used to purchase and set up a rooftop solar power plant at the Supa Facility.

2.10%

General corporate purposes

IPO funds cover general corporate needs and unannounced acquisitions

23.30%

IPO Subscription Status

Retails

0.84x

QIB

0.31x

NII

0.41x

Financials of KSH International

In Cr.

Revenue: ₹562.60

EBITDA: ₹40.28

Profit: ₹22.68

Total Income

EBITDA

Total Profit

Negative Value

Key Performance Indicator	30-Jun-25 (In Cr.)	31-Mar-25 (In Cr.)	31-Mar-24 (In Cr.)	31-Mar-23 (In Cr.)
Revenue	562.60	1938.19	1390.50	1056.60
EBITDA	40.28	122.53	71.46	49.90
Expenses
Profit After Tax	22.68	67.99	37.35	26.61
Assets	793.28	744.91	482.71	359.18
Net Worth	321.47	298.55	230.95	193.66
Reserves	293.07	270.14	225.26	187.97
Borrowing	379.39	360.05	206.81	120.35

KSH International - Promoter(s)

Kushal Subbayya Hegde

Pushpa Kushal Hegde

Rajesh Kushal Hegde

Rohit Kushal Hegde

Rakhi Girija Shetty

Pre Issue Share Holding

N/A

Post Issue Share Holding

N/A

About Strength & Risks

Strengths6Risks5

Why this IPO looks interesting

Key positives investors may want to consider before applying.

Diversified product portfolio

The company is ranked among the top three magnet winding wire manufacturers in India in terms of installed capacity (29,045 MT as of Q1FY26) and is one of the most widely diversified product suites in the market, covering both standard and specialised copper and aluminium winding wires, CTCs, and paper-insulated conductors.

Strategically located manufacturing process

The company runs a large-scale manufacturing unit of 29,045 MT spread over Taloja and Chakan and has recently commissioned a new facility in Supa as of September 2025. All these plants are efficiently located close to JNPT to facilitate export-led operations. Its plants are equipped with wire-flattening machines of high precision, modern enamelling systems, transposing heads, and are driven by automation to achieve quality of the highest standard and at the micron level. These technologies are essential for meeting the stringent requirements of, for example, HVDC transformers, CTC conductors, and specialised EV-grade wires.

Product innovation

With the launch of specialised enamelled round and rectangular wires for EV and compressor applications, the company is in a position to gain from the structurally increasing demand for e-mobility and energy-efficient motors.

Diversified and sticky customer base

The company had 122 customers in FY25. Out of these, 94.54% of the FY25 operating revenues were generated by 5 of the 122 customers. 69.50% of revenues were from domestic operations, and exports accounted for 30.50% as of June 2025.

Strong export presence

The company exports its products in 24 countries, including North America, Europe, the Middle East, and Asia, thereby lessening the risks of concentration in the geographical areas. Some of the top global customers are Toshiba T&D Systems and Meidensha Corporation, which shows that the company is globally accredited and its products are reliable. Export revenues grew at a CAGR of 19.85% between FY23 and FY25.

Strong industry approvals and high entry barriers

The company benefits from approvals by key government and institutional clients, including PGCIL (up to 765kV and HVDC transformers), NTPC (CTC supply), NPCIL (CTC up to 220kV), and RDSO (CTC for locomotive transformers). In addition to ISO 9001, 14001, 45001, and IATF 16949, these certifications open up more tender-driven high-value opportunities and serve as substantial barriers to entry.

What investors should watch closely

Risk factors and possible pressure points around the offer.

Customer concentration risk

The company’s income mainly comes from a few customers whose revenue is most concentrated. In Q1FY26, FY25, FY24, and FY23, the 10 major clients contributed 53.97%, 52.54%, 57.10%, and 58.99%, respectively. This dependence limits the company's pricing power, makes the revenue stream volatile, and increases the impact of any reduction in orders, loss of customers, or sanctions on your most important accounts.

Dependency on suppliers

Nearly all raw materials are sourced from just 10 suppliers (over 95% of purchases each year). Since most purchases are on short-term purchase orders, any disruption or change in supply terms can affect production and margins sharply.

Exposure to commodity price volatility

The cost of raw material accounted for 96.29% of total expenses for Q1FY26; thus, there is very little margin protection against input inflation. Copper and aluminium prices have increased at 3.1% and 0.5% CAGR, respectively, over the last 3 years. The company is not always able to pass on the price increase to the customers. In case of an unfavourable LME price or forex-induced cost increase, the company's pricing competitiveness may be affected.

Over-reliance on the power sector

The power sector contributed 71.73%, 74.79%, and 75.17% of operating revenues for Q1FY26, FY25, and FY24, respectively. Due to its dependence on one sector only, the company is exposed to the cyclicality, tariff structures, and regulatory changes that affect this sector. Any reduction in the power sector's capital expenditures or a policy change will have a great impact on the company's revenue.

Export risk and tariff-related headwinds

Exports accounted for 30.75% of sales in Q1FY26, 33.20% in FY25, and as high as 43.93% in FY23. Therefore, the company’s business is vulnerable to the risks associated with tariffs, regulations, and geopolitics. Lately, the US tariff hikes have increased the effective duties on HTS 8544 products up to 50%. As a result, demand in a significant market may decline. Moreover, the absence of international offices and dependence on third-party agents may also cause tender participation, business development, and customer service capacity to slow down.

Contact Details

KSH International

11/3, 11/4 and 11/5 Village Birdewadi Chakan Taluk Khed Pune, Maharashtra, 410501

+912045053237

[email protected]

https://kshinternational.com/

Registrar Contact Details

MUFG Intime India Pvt.Ltd.

+91-22-4918 6270

[email protected]

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

KSH International IPO - FAQs

KSH International IPO is a Mainboard Listed IPO. The issue is priced at ₹365-384 per equity share. The minimum order quantity is 39 Shares. The IPO opens on 16 Dec, and closes on 18 Dec. MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

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KSH International

About KSH International

Checklist Quality Analysis

KSH International IPO - Issue Objectives

Repayment of borrowings

Purchase new machinery

Capex for solar power plant

General corporate purposes

IPO Subscription Status

Financials of KSH International

KSH International - Promoter(s)

About Strength & Risks

Why this IPO looks interesting

Diversified product portfolio

Strategically located manufacturing process

Product innovation

Diversified and sticky customer base

Strong export presence

Strong industry approvals and high entry barriers

What investors should watch closely

Customer concentration risk

Dependency on suppliers

Exposure to commodity price volatility

Over-reliance on the power sector

Export risk and tariff-related headwinds

Contact Details

Registrar Contact Details

KSH International IPO - FAQs

What is KSH International IPO?

When does the KSH International IPO open and close?

Where can I check the live subscription status of the KSH International IPO?

What is the issue size of the KSH International IPO?

What is the price band of the KSH International IPO?

What is the minimum investment for the KSH International IPO?

What is the allotment date of the KSH International IPO?

What is the KSH International IPO listing date?

How to check KSH International IPO allotment status online?

Who is the registrar for the KSH International IPO?

Live IPOs