Updated on 23.12.2025 @ 9:25 AM
KSH International Limited is set to launch its mainboard Initial Public Offering (IPO) on December 16, 2025. It is one of India's leading manufacturers of magnet winding wires. You can also track all upcoming, live and closed IPOs at our IPO calendar page.
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The subscription for this public issue will close on December 18, 2025.
The company aims to raise up to ₹710.00 crores through a mix of a fresh issue and an Offer for Sale (OFS) by its promoters.
The price band has been fixed at ₹365 to ₹384 per share, with a minimum lot size of 39 shares.
KSH International has demonstrated strong financial growth and market leadership in a specialized segment, but investors should be mindful of its high leverage and customer concentration.
In this article, you will find KSH International IPO GMP today, subscription status, allotment date, price band, and a detailed, unbiased review to help you make an informed decision.
Briefs of KSH International IPO Details
- Price Band: ₹365 to ₹384 per share
- IPO Open / Close Dates: December 16, 2025 – December 18, 2025
- Lot Size: 39 Shares
- Issue Size: ₹710.00 Crores (Fresh Issue of ₹420.00 Cr + OFS of ₹290.00 Cr)
- Fresh Issue / OFS: Both
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: BSE & NSE
MUFG Intime is the registrar of this issue, and here we have done a detailed guide on how to check ipo allotment status at MUFG Intime with all the details like share credit, refund, and all the issues for which the investor should have knowledge about.
What is The KSH International IPO GMP Today?
Check the gmp of this issue and other issues at our gmp hub page. (The Grey Market Premium (GMP) is an unofficial indicator that reflects market sentiment).
Listing Updates
| Type | Issue Price | Open | Gain/loss |
| Lisiting | 384 | 399 | 3.9 |
What Are The KSH International IPO Dates & Allotment Schedule?
- IPO Open & Close Date: December 16, 2025 – December 18, 2025
- Basis of Allotment Date: December 19, 2025
- Refund Initiation Date: December 22, 2025
- Credit of Shares: December 22, 2025
- Listing Date: December 23, 2025
What Are The Objectives of KSH International IPO?
The company intends to utilise the net proceeds from the fresh issue for its expansion and debt reduction:
- Capital Expenditure (87 Crores): To fund machinery expansion at its Supa Facility and Unit 2 in Chakan, enhancing production capacity to meet growing demand.
- Debt Repayment (225.9 Crores): A portion of the proceeds will be used to prepay or repay outstanding borrowings, which will help deleverage the balance sheet and reduce finance costs.
- Rooftop Solar Plant (8.8 Crores): Setting up a solar power plant at the Supa facility to reduce energy costs and improve sustainability.
- General Corporate Purposes: The balance amount will be used for other strategic requirements.
- Note: The proceeds from the Offer for Sale (OFS) of ₹290.00 crores will go to the selling promoters and not the company.
How is The Financial Performance of KSH International?
The following table summarizes the company's financial performance based on restated consolidated data.
(Amounts in ₹ Crores)
| Particulars | Period Ended 30 Jun 2025 | Year Ended 31 Mar 2025 | Year Ended 31 Mar 2024 | Year Ended 31 Mar 2023 |
Total Income | 562.60 | 1,938.19 | 1,390.50 | 1,056.60 |
Profit After Tax (PAT) | 22.68 | 67.99 | 37.35 | 26.61 |
EBITDA | 40.28 | 122.53 | 71.46 | 49.90 |
Total Borrowing | 379.39 | 360.05 | 206.81 | 120.35 |
Assets | 793.28 | 744.91 | 482.71 | 359.18 |
Source: RHP
Key Financial Observations:
Profit After Tax (PAT):
KSH has delivered exceptional profit growth, with PAT surging by nearly 60% CAGR from FY23 to FY25. This growth is driven by a strategic shift towards higher-margin specialized wires and effective cost management.
Total Income:
Revenue has grown consistently at a robust pace, nearly doubling in two years to reach ₹1,938.19 Crores in FY25. This reflects strong demand from the power and EV sectors and the company's success in capturing export markets.
EBITDA:
Operational profitability has more than doubled between FY23 and FY25, with margins expanding to over 6.3%. This indicates improved operational efficiency and the ability to pass on raw material costs to customers.
Total Borrowings:
The company carries a significant debt load of ₹379.39 Crores as of June 2025, resulting in a high leverage ratio. The IPO proceeds allocated for debt repayment are crucial to improving the financial health of the company.
Assets:
Total assets have more than doubled since FY23 to ₹793.28 Crores, driven by heavy capital investment in expanding manufacturing capacity to meet future demand.
P/E Ratio & Peer Comparison
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹11.97, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 32.1x at the upper end of the price band (₹384).
P/E Ratio = ₹384 (Price) / ₹11.97 (Earnings Per Share)
P/E Ratio ≈ 32.1x
This valuation appears reasonable when compared to its listed industry peers.
| Company Name | P/E Ratio | Revenue (FY25, ₹ Cr) | RoNW (%) (FY25) | EBITDA Margin (%) (FY25) |
KSH International (at IPO price) | ~32.1x | 1,928.29 | 22.77% | 6.35% |
| Precision Wires India Ltd | 50.60x | 4,014.83 | 15.63% | 4.13% |
| Ram Ratna Wires Ltd | 40.37x | 3,676.75 | 14.39% | 4.22% |
Analysis for Investors:
KSH International is being offered at a significant discount to its peers, with a P/E of ~32x compared to 40x-50x for competitors.
Furthermore, KSH boasts superior profitability metrics, with a Return on Net Worth (RoNW) of nearly 23% and EBITDA margins of 6.35%, both higher than its listed peers. This combination of lower valuation and better operational efficiency makes the IPO pricing look compelling.
Industry Outlook
- KSH International operates in the critical magnet-winding wire industry, which is a key supplier to the power and infrastructure sectors.
- The demand for these wires is robust, driven by India's massive investments in power transmission, the rapid growth of renewable energy projects, and the burgeoning electric vehicle (EV) market.
- As the largest exporter in its segment, KSH is also well-positioned to benefit from global demand and the "China Plus One" strategy.
What Are The Strengths and Risks of KSH International IPO?
Strengths:
- Market Leadership: Third-largest manufacturer in India and the largest exporter of magnet winding wires.
- Superior Financials: Best-in-class revenue growth (35% CAGR) and profit growth (60% CAGR) among peers.
- High Profitability: Leading EBITDA margins and Return on Equity in the segment.
- Strategic Positioning: Strong presence in high-growth sectors like EVs and renewable energy.
- Attractive Valuation: Priced at a discount to industry peers despite better performance metrics.
Risks:
- High Debt: The company is significantly leveraged compared to its peers, which increases financial risk.
- Concentration Risk: High dependence on a few top customers and suppliers.
- Raw Material Volatility: Margins are sensitive to fluctuations in copper and aluminum prices.
- Negative Cash Flows: The company has reported negative cash flows from operations in recent years due to high working capital needs.
Key Considerations for Investors
The KSH International IPO offers an entry into a high-growth manufacturing company. The company's superior growth and profitability metrics have been compared to peers . However, the high debt and negative cash flows are valid concerns.
- For Value Investors: The valuation discount relative to peers makes it an interesting proposition.
- For Growth Investors: The rapid expansion in revenue and profits, driven by the power and EV sectors, signals strong future potential.
- We suggest investors carefully review the RHP, paying close attention to the debt reduction plans and cash flow management. And make decision consulting to your IFA.
Key Takeaways
- IPO Price Band: ₹365 to ₹384 per share
- Lot Size: 39 Shares (Minimum Investment: ₹14,976)
- Allotment & Listing Dates: Tentative listing on December 23, 2025.
- Recommendations of experts: Consider applying after understanding the risks. A high-growth market leader with superior margins offered at a valuation discount to peers.
FAQs on KSH International IPO
What is KSH International IPO price band?
The price band for the IPO is set at ₹365 to ₹384 per equity share.
What is KSH International IPO allotment date?
The allotment of shares is tentatively expected to be finalized on Friday, December 19, 2025.
How to check KSH International IPO allotment status?
You can check the allotment status on the website of the IPO registrar once the basis of allotment is finalized. You can also check allotment status of other and this IPO at our allotment status hub page.
What is KSH International IPO listing date?
The company's shares are tentatively scheduled to be listed on the BSE and NSE on Tuesday, December 23, 2025.
Should I apply for KSH International IPO?
Investors with a moderate risk appetite may consider applying. The company has strong fundamentals and is priced attractively, but high debt and working capital intensity are key risks to watch.
Disclaimer:
This article is for informational purposes only. IPO markets involve risk—please consult your financial advisor before investing.
