KSH International shares slide after listing below IPO price
23 Dec 2025

KSH International Ltd's shares fell sharply in early trade today, after a lackluster debut on the stock exchanges.

The Pune-based manufacturer of magnet winding wires debuted at ₹370 per share on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), approximately 3.65% lower than its IPO price of ₹384.

The stock further extended its losses in early trading, hitting a low of ₹354 (nearly 8% below issue price).

KSH International's IPO details and market response
IPO specifics

KSH International's ₹710-crore initial public offering (IPO) was priced at ₹365-384 per share. The issue comprised a fresh issue of ₹420 crore and an offer-for-sale (OFS) of ₹290 crore by promoters.

However, the IPO received a lukewarm response from investors with 83% subscription on the last day. Qualified institutional buyers (QIBs) subscribed their portion 1.06 times while retail investors' segment was subscribed 86%.

Non-institutional investors (NIIs) category witnessed a tepid response with only 42% subscription.

KSH International's IPO size reduced to meet subscription threshold
Size reduction

To meet the SEBI-mandated minimum 90% subscription threshold, KSH International had to cut its IPO size from ₹710 crore to ₹644.4 crore.

The company opted for this option by reducing its offer-for-sale (OFS) size to ₹224.4 crore from ₹290 crore earlier while keeping the fresh issue size intact at ₹420 crore.

This move helped cross the 90% mark for IPO subscription.

KSH International's plans for IPO proceeds utilization
Fund allocation

KSH International plans to use ₹226 crore from the net fresh issue proceeds for debt repayment, ₹87 crore for purchasing and installing new machinery at its Supa facility and Unit 2 in Chakan, and ₹8.8 crore for setting up a rooftop solar power plant at the Supa facility.

The remaining funds will be allocated to general corporate purposes.