KSH International IPO...
13 Dec, 2025
KSH International IPO
The KSH International IPO issue size is ₹710 crores, comprising a fresh issue of 1.09 crore equity shares (₹420 crores) and an offer for sale of 75.52 lakh equity shares ₹290 crores.
It is a book-built mainboard IPO with a price band of ₹365 - ₹384 per share with a face value of ₹5. The issue will open on 16 December 2025 and closes on 18 December 2025, with the basis of allotment expected on 19 December 2025. The shares are to be listed on the BSE and NSE on 23 December 2025.
KSH International Ltd. is coming with its Initial Public Offering (IPO) on the BSE and NSE mainboard platforms.
It is a leading manufacturer of magnet winding wires. KSH has established a strong position in the electrical components sector. Moreover, it serves in diverse industries with high-quality enameled copper and aluminium wires.
Company Background
KSH International Ltd. was established in 1981 and incorporated in 1979. It is a leading Indian manufacturer of magnets, winding wires and Continuously Transposed Conductors (CTC).
It serves as a major market player in power, electrical and automotive OEMs globally, with customized solutions from plants near Mumbai/Pune. They are one of the top Indian manufacturers and the largest exporter in their segment. It specializes in producing products such as enamelled copper/aluminum wires, paper-insulated wires and CTCs for generators, motors, EVs and appliances. Its products are exported to the US, the Middle East and Europe.
Operations and Product Range
Facility Operation
KSH International Limited operates four manufacturing facilities in Maharashtra, India, with a combined annual capacity of 29,045 MT as of late 2024, focusing on insulated magnet winding wires and conductors. These plants feature state-of-the-art machinery, advanced testing equipment and compliance with ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and IATF 16949:2016 standards to ensure precision production and customer-specific customization.
Product Range and Market Presence
The core products manufactured by it are Round enamelled copper/aluminum wires, Paper-insulated rectangular copper/aluminum wires (PICC) and Continuously Transposed Conductors (CTC), Rectangular enamelled wires and bunched paper-insulated wires. It provides customization in bespoke solutions for specific client needs
Its advances in Continuously Transposed Conductors (CTC) are a flagship offering, approved for HVDC, traction, power and resin cast transformers by bodies like RDSO, PGCIL and NTPC. Wrapped rectangular magnet winding wires provide paper or fiberglass insulation for high-voltage transformers and generators
Revenue Channels
- • Core revenue model: KSH International earns mainly from outright sales (91.7% in FY25) of magnet winding wires and conductors, with job work contributing ~7.7%. Exports form 30–32% of revenue across 24 countries.
- • Strong growth: Revenue grew from ₹1,049 crore in FY23 to ₹1,928 crore in FY25, clocking a 35.55% CAGR.
- • Diversified customer & sector base: Serves 122 OEM customers including BHEL, Siemens Energy, Hitachi Energy and Toshiba, across power T&D, automotive/EV, railways, renewables and appliances.
- • Product mix evolution: Historically driven by copper-based CTC and PICC products (~95% of profits), now expanding into aluminium variants, supported by ~25% YoY volume growth indicating capacity expansion.
Management and Shareholding
Mr. Kishorkumar S. Gupta and the Gupta family are the promoters of the KSH International IPO. They have transformed the company from a small winding wire producer into India's third-largest exporter of magnet winding wires with three manufacturing facilities and a strong OEM/export client base. The promoters have overseen capacity expansions, technological upgrades, international certifications and strategic diversification into CTC and specialty wires for power, EV and renewables sectors.
Pre-IPO, the promoter and promoter group collectively hold 75.2% of KSH International's equity share capital. Significantly, they have a strong control ahead of the public offer.
Post-IPO, their stake will reduce to approximately 55.8%, with the offer for sale enabling partial liquidity while ensuring continued promoter stewardship of the business.
Board Members
The KSH International IPO includes Mr. Kushal S. Hegde as the Chairman & Executive Director and Mr. Rajesh Hegde as Managing Director. Rohit Hegde & Rakhi Shetty are Joint Managing Directors and Whole-time Directors, respectively.
Mr. Ajay Patil, Mr. Ram Tiwariand and Mrs. Indu Jacob are all Independent Directors.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
KSH International IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
KSH International IPO Details
| Detail | Description |
|---|---|
| IPO Date | Tue, Dec 16, 2025 to Thu, Dec 18, 2025 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Issue Price Band | ₹365 to ₹384 |
| Lot Size | 39 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,84,89,583 shares (aggregating up to ₹710.00 Cr) |
| Reserved for Market Maker | 1,09,37,500 shares (aggregating up to ₹420.00 Cr) |
| Offer for Sale | 75,52,083 shares of ₹5 (aggregating up to ₹290.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,68,18,200 shares |
| Share Holding Post Issue | 6,77,55,700 shares |
KSH International IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Dec 16, 2025 |
| IPO Close Date | Thu, Dec 18, 2025 |
| Tentative Allotment | Fri, Dec 19, 2025 |
| Initiation of Refunds | Mon, Dec 22, 2025 |
| Credit of Shares to Demat | Mon, Dec 22, 2025 |
| Tentative Listing Date | Tue, Dec 23, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 18, 2025 |
KSH International IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 39 | ₹14,976 |
| Individual investors (Retail) (Max) | 13 | 507 | ₹1,94,688 |
| S-HNI (Min) | 14 | 546 | ₹2,09,664 |
| S-HNI (Max) | 66 | 2,574 | ₹9,88,416 |
| B-HNI (Min) | 67 | 2,613 | ₹10,03,392 |
KSH International IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | - |
| Promoter Holding Post Issue | - |
Competitive Strength:
- -
KSH International IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 793.28 | 562.60 | 22.68 | 321.47 | 379.39 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 744.91 | 1,938.19 | 67.99 | 298.55 | 360.05 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 482.71 | 1,390.50 | 37.35 | 230.95 | 206.81 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 359.18 | 1,056.60 | 26.61 | 193.66 | 120.35 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 22.77 |
| ROCE | 16.60 |
| Debt/Equity | 1.17 |
| RoNW | 22.77 |
| PAT Margin | 3.51% |
| EBITDA Margin | 6.35% |
| Price to Book Value | 7.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.97 | 13.39 |
| P/E (x) | 32.09 | 28.68 |
KSH International IPO Objectives
- • The amount 225.98 (₹ in Cr.) for the Repayment of certain company borrowings.
- • ₹ 87.02 crores were issued for the 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 is ₹ 8.83 crore.
Conclusion
KSH International IPO offers an opportunity to invest in India's one of the top magnet winding wire makers.
It has strong growth from ₹1,056 Cr revenue in FY23 to ₹1,938 Cr in FY25. The ₹710 Cr issue opens Dec 16-18, priced ₹365-384, lot size 39 shares (min ₹14,976).
The funds will be used to repay debt, add machinery and set up solar power for expansion. Post-IPO, the Gupta family promoters hold 71%. Also, it serves key OEMs like BHEL in power, EV and renewables. With a healthy ROE of 22.77% and listing on Dec 23.
It’s ideal for growth-focused investors. The application process via Zerodha using UPI is easy and accessible.
Read more :
Frequently asked Questions (FAQs )
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Q1. How to apply for the KSH International IPO through Zerodha?
The process is easy and simple. First, log in to Zerodha Console, then IPO and after that select “KSH International”. Finally, enter quantity (multiples of 39), price within band, submit UPI mandate and approve.
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Q2. When will the KSH International IPO open?
KSH International IPO opens for subscription on Tuesday, December 16, 2025 and closes on Thursday, December 18, 2025.
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Q3. What is the lot size of the KSH International IPO?
The lot size is 39 shares, requiring a minimum investment of ₹14,976 at the upper price band of ₹384 per share.
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Q4. How to apply for the KSH International IPO?
The Application is filed online via a broker (e.g., Zerodha, other brokers) using UPI/ASBA: select IPO, choose investor type, enter lots, price, submit, then approve payment mandate. The Application is filed online via a broker (e.g., Zerodha, other brokers) using UPI/ASBA: select IPO, choose investor type, enter lots, price, submit, then approve payment mandate.
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Q5. When is the KSH International IPO allotment?
The basis of allotment is scheduled to be finalized on Friday, December 19, 2025, with shares credited to the demat by Monday, December 22, 2025.
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