Home
Charts
Search
Watchlist
Products
All IPOs
₹384 - 384
KSH International Ltd
Non Ferrous MetalsIPO
₹384 - 384
The Company is the third largest manufacturer of magnet winding wires in India in terms of production capacity in Fiscal 2025. The Company is also the largest exporter of magnet winding wires from India in terms of export revenues in Fiscal 2025. Its key products include round enamelled copper/ aluminium magnet winding wires, paper insulted rectangular copper/ aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/ aluminum magnet winding wires and bunched paper insulated copper magnet winding wires. Its products are critical components of capital goods such as transformers, motors, alternators and generators.
Lot39Min Invest₹14,976Face Value₹5Issue Size₹710 CrFresh Issue₹420 CrOffer for Sale₹290 CrListing Price₹370CMP₹1,088
Timeline
16 Dec
Bidding opens
18 Dec
Bidding closes
19 Dec
Allotment
22 Dec
Refund & demat credit
23 Dec
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹710 Cr1.68 Cr shares
Fresh Issue₹420 Cr
Offer for Sale₹290 Cr
Face Value₹5
Lot Size39 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,9761-13 lots
sNII₹2,09,664from 14 lots
bNII₹10,03,392from 67 lots
Managers & Registrar
Lead ManagerNuvama Wealth Management Limited
Co-ManagerICICI Securities Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrKushal Subbayya HegdePRMTR39,79,167152.80Pushpa Kushal HegdePRMTR10,98,95842.20Rajesh Kushal HegdePRMTR12,36,97947.50Rohit Kushal HegdePRMTR12,36,97947.50Total75,52,083290.00
Shareholding
CategoryPre IPOPost IPOPromoter Group98.4%71.36%Public1.6%28.64%
Objects of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by its Company
- Funding the capital expenditure requirements of the Company
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of a rooftop solar power plant for power generation at its Supa Facility
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 1,049 | 1,383 | 1,928 | 3,107 | 3,713 |
| Operating ProfitCr | 50 | 71 | 123 | 192 | 226 |
| OPM% | 4.8 | 5.2 | 6.3 | 6.2 | 6.1 |
| PBTCr | 35 | 51 | 90 | 146 | 169 |
| PATCr | 27 | 37 | 68 | 110 | 130 |
| EPS | 5 | 7 | 12 | 18 | 21 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 6 | 6 | 28 | 34 | - |
| ReservesCr | 188 | 225 | 270 | 774 | - |
| BorrowingsCr | 129 | 214 | 366 | 321 | - |
| Fixed AssetsCr | - | - | 133 | 313 | - |
| Total AssetsCr | 359 | 483 | 745 | 1,323 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 62 | -17 | -9 | -65 | - |
| Investing Cash FlowCr | -20 | -39 | -118 | -179 | - |
| Financing Cash FlowCr | -41 | 67 | 123 | 306 | - |
| Net Cash FlowCr | 2 | 11 | -5 | 62 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- The Company is one of the leading manufacturers of magnet winding wires in India with a comprehensive suite of products used across multiple end use industries.
- The Company has large, strategically located, manufacturing facilities with focus on advanced technologies and new product and process development.
- The Company has long standing relationships with its diversified customer base both domestically as well as globally.
- The Company has a proven track record necessary certifications and accreditations in an industry which has high barriers to entry.
- The Company has a track record of financial performance and consistent growth.
- The Company has experienced Promoters and Senior Management team.
Strategies · as stated in the DRHP
- Increase focus on higher value-added critical products, focusing on high value segments and launching new products.
- Increasing its presence in international markets and expand its global reach.
- Increasing wallet share of its existing customers.
- Continue to focus on improving operating efficiencies through scale and backward integration.
- Becoming a more sustainable partner to its customers.
Risks · as stated in the DRHP
- The company depends on certain customers for a significant portion of the revenue from operations. Its top 10 customers contributed to 53.97%, 52.54%, 57.10% and 58.99% of the revenue from operations for the three-month period ended June 30, 2025, and Fiscals 2025, 2024 and 2023, respectively. Any decrease in demand from such customers, the loss of such customers or its inability to diversify the customer base could have an adverse effect on its business, results of operations, financial condition and cash flows.
- The company business is dependent on suppliers to procure its raw materials (top 10 suppliers contributed to 98.91%, 98.45%, 96.93% and 98.58% of the total cost of raw materials and components purchased for the three-month period ended June 30, 2025, and Fiscals 2025, 2024, and 2023, respectively). The company has not entered into long-term agreements with these suppliers, and any loss of suppliers or interruptions in the timely delivery of raw materials or volatility in their prices could have an adverse impact on the company business, financial condition, cash flows and results of operations.
- Any shortfall in the supply or availability of raw materials including aluminium or copper, which are the company primary raw materials (and copper also being its principal raw material), or insulating materials, such as enamel and paper, or an increase in its such material costs, or other input costs, may adversely affect the pricing and supply of the company products and have an adverse effect on its business, results of operations and financial condition.
- A significant portion of the company revenue from operations i.e. 71.73%, 74.79%, 75.17% and 79.08% of its operating revenue for the three-month period ended June 30, 2025 and Fiscals 2025, 2024 and 2023, respectively is attributable to the power sector (generation, transmission and distribution) industry ("Power Sector"). Any economic cyclicality coupled with reduced demand or negative trend in the Power Sector industry or other industries that its operate in, could adversely affect the company business, results of operations and financial condition.
- Its derive a substantial portion of the company revenue (more than 70% in each of the three-month period ended June 30, 2025, and Fiscals 2025, 2024 and 2023) from the sale of specialized magnet winding wires. Any reduction in demand for the key products would have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Its have not yet placed orders in relation to the company capital expenditure to be incurred for certain of the proposed objects of the Offer. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the requisite equipment in a timely manner, or at all, the same may result in time and cost over-runs.