The Indian stock market is currently seeing a large number of IPOs. KSH International’s Initial Public Offering (IPO) opened today, Tuesday, December 16.
Through this IPO, the company aims to raise ₹710 crore. This is a mainboard IPO, and investors can apply for it until December 18.
Under the IPO, the company will issue 1.09 crore fresh shares, while 76 lakh shares are being offered for sale.
IPO Price Band and Investment Details
KSH International has fixed the IPO price band at ₹365 to ₹384 per share. Each lot contains 39 shares, which means retail investors will need to invest at least ₹14,976 to apply.
Out of the total issue, 35% is reserved for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for Non-Institutional Investors (NIIs).
Use of IPO Funds
A major part of the funds raised through the IPO will be used to reduce the company’s debt. The company plans to use ₹226 crore to repay existing loans.
In addition, ₹87 crore will be invested in buying new machinery and adopting modern technology at its Supa and Chakan manufacturing plants.
Grey Market Performance of the IPO
According to a report by Hindustan News, KSH International’s IPO is not showing strong performance in the grey market. The Grey Market Premium (GMP) is currently ₹0, and no significant change is expected.
KSH International was established in 1979 and is currently among the top three magnet winding wire exporters in India.
