KSH International mops up ₹213 crore from anchor investors; ₹710 crore IPO opens today

KSH International, a manufacturer and exporter of magnet winding wires, has raised ₹213 crore from anchor investors ahead of its initial public offering (IPO), which opens for public subscription today. The ₹710 crore public issue of Pune-based company will close on December 18, while shares are expected to make its debut on the BSE and NSE on December 23, 2025.

In a filing with the stock exchanges, the company said it allotted 55,46,874 equity shares to anchor investors at ₹384 per share. The anchor book saw participation from marquee global and domestic institutions, including HSBC Global Investment Funds – Asia ex Japan Equity Smaller Companies, Societe Generale – ODI, Kotak Mahindra Life Insurance Company and Edelweiss Life Insurance Company.

Among equity-oriented mutual fund schemes, shares were allotted to HDFC Mutual Fund – HDFC Manufacturing Fund, Kotak Infrastructure & Economic Reform Fund, LIC MF Large and Mid-Cap Fund, Bank of Baroda Small Cap Fund and Malabar India Fund. Of the total anchor allocation, 41,40,591 equity shares were allotted to five domestic mutual funds across multiple schemes.

The public issue is a combination of a fresh issue of equity shares worth ₹420 crore and an offer-for-sale of up to ₹290 crore by promoters Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde and Rohit Kushal Hegde.

Investors can bid for a minimum of 39 equity shares and in multiples of 39 shares thereafter. The offer is reserved up to 50% for qualified institutional buyers, 15% for non-institutional investors, and up to 35% for retail individual investors.

Founded in 1981, KSH International began operations with a magnet winding wire manufacturing facility in Taloja, Raigad, Maharashtra. Over the past four decades, the company has expanded and diversified its product portfolio to include a wide range of standard and specialised magnet winding wires tailored to customer-specific requirements.

According to a CARE Ratings report, KSH International is the third-largest manufacturer of magnet winding wires in India by production capacity in FY25, and also the largest exporter in the segment in terms of export revenues during the same period.

For the financial year ended March 31, 2025, the company’s total income rose 39% year-on-year to ₹1,938.19 crore, up from ₹1,390.50 crore in FY24. Profit after tax (PAT) surged 82% to ₹67.99 crore in FY25, compared with ₹37.35 crore a year earlier, reflecting improved operating leverage and higher volumes. EBITDA also recorded a significant jump, increasing to ₹122.53 crore in FY25 from ₹71.46 crore in FY24.

In the first quarter of FY26, KSH International reported total income of ₹562.60 crore and a PAT of ₹22.68 crore, indicating continued business momentum. Assets stood at ₹793.28 crore as of June 30, 2025, while net worth rose further to ₹321.47 crore.