KSH International files DRHP for ₹745-crore IPO
The proposed KSH International IPO is a combination of a fresh issue of shares worth ₹ 420 crore and an offer-for-sale (OFS) of equity shares worth ₹ 325 crore by promoters, according to the draft red herring prospectus (DRHP).
The company plans to utilise the net issue proceeds from the fresh issue to the extent of ₹ 225.98 crore for payment of debt, ₹ 90.06 crore to set up new machinery for expansion at its Supa facility and purchasing and setting up of new machinery at Chakan, Pune in Maharashtra.
Moreover, ₹ 10.41 crore will be used for setting up of a rooftop solar power plant at its Supa facility; and a portion will be used for general corporate purposes.
KSH International equity shares are proposed to be listed on both the stock exchanges - NSE and BSE.
Nuvama Wealth Management and ICICI Securities are the book-running lead managers of KSH International IPO, while MUFG Intime India is the IPO registrar.
KSH International, a part of the KSH group, commenced its operations in 1981 by manufacturing magnet winding wires in Raigad, Maharashtra, and in the last four decades, it has diversified its operations to manufacturing various types of standard and specialised magnet winding wires.
The company operates three manufacturing facilities, out of which two of these facilities are located in Chakan and one in Taloja, Raigad. There is an upcoming fourth facility in Supa, Ahilyanagar, which is expected to commence operations in FY26. With its Supa expansion, KSH is expected to more than double its capacity from 29,045 MT as of December 31, 2024, to 59,045 MT over the next two years, according to a CARE report.
The company markets and sells its products through its brand 'KSH', with a strong brand recall and reputation in the industry over the years. It has 112 customers as of December 31, 2024, which includes the likes of Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd (BHEL), Georgia Transformer Corporation, Hitachi Energy India, Siemens Energy India, Hind Rectifiers, Toshiba Transmission & Distribution Systems (India) Private Ltd, CG Power and Industrial Solutions Ltd and Emirates Transformer & Switchgear Ltd.
KSH International also exports its products to 24 countries, including, the US, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh and Japan.
KSH International's revenue from operations increased to ₹ 1,382.82 crore in FY24 from ₹ 1,049.46 crore in the preceding financial year. The company's net profit grew to ₹ 37.35 crore in FY24 from ₹ 26.61 crore, year-on-year (YoY).
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