Last Day!! KSH International IPO Struggles at 0.33x Subscription; GMP at 0; 11 Key Things Investors Must Know

KSH International IPO has entered its final day of subscription today, December 18, and investor response so far has been muted. The public issue, which is worth Rs. 710 crore and opened on December 16, has been subscribed only 0.33 times till now. Before you decide whether to put your hard-earned money into this IPO, here are the 10 most important things investors must know.

1. IPO Subscription Status: Weak Demand So Far

Despite being the last day, the KSH International IPO subscription remains lacklustre at 0.33x, indicating limited investor appetite across categories. A weak subscription of 0.60 times was seen in the retail category and 0.17 times in the NII category so far. Meanwhile, no subscription is seen in the QIB segment.

2. Grey Market Premium (GMP) Update:

As of 18 December, the demand for the IPO in the grey market is not much, as the issue is trading with no premium. At the time of writing, the KSH International IPO GMP stood at Rs. 0, indicating no expected listing gains and 0% expected upside.

3. Issue Size and Structure:

The KSH International IPO worth Rs. 710 crore is both a fresh issue and an offer for sale. The company also raised Rs. 213 crore from anchor investors on December 15.

4. Subscription Windows Update:

The KSH International IPO opened for subscription on Dec 16 and is closing today, December 18.

5. When will the shares be allotted?

The allotment for the KSH International IPO will be finalised on December 19, 2025, with refunds initiated and shares credited to demat accounts on December 22, 2025.

6. Listing date:

KSH International IPO shares are scheduled to list on the BSE and NSE next week on December 23.

7. Price Band and Lot Size

The KSH International IPO price band is fixed at Rs. 365-Rs. 384 per share, with a lot size of 39 shares. Investors must bid within this range, with allotment expected at the cut-off price.

8. Minimum Investment Required

Retail investors need a minimum investment of Rs. 14,976, which is 39 shares at the upper price.

9. IPO Book Managers and Registrar

Nuvama Wealth Management Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is the registrar handling allotments and refunds.

10. Business Overview and Operating Sector

KSH International Limited is the third-largest manufacturer and the largest exporter of magnet winding wires in India. Founded in 1979, the company supplies to OEMs across power, renewables, railways, automotive and industrial sectors.

11. Financial Performance

"KSH International reported strong financial performance, with revenue increasing from Rs. 1,382.8cr in FY24 to Rs. 1,928.3cr in FY25 (+39.4% YoY). EBITDA rose from Rs. 71.5 cr to ₹122.5 cr, with margin expansion to 6.35%, while PAT grew from Rs. 37.4 cr to Rs. 68.0 cr, translating into a PAT margin of 3.5%. Export revenues stood at ₹590.4cr in FY25, accounting for 30.6% of total revenue. The company also delivered healthy return ratios, with ROE of 22.7% and ROCE of 16.6% in FY25, while maintaining a debt-to-equity ratio of 1.17x" as per the AngelONE report.

Should You Subscribe to the KSH International IPO?

With weak subscription numbers, zero GMP, and a sharp decline in earnings, the KSH International IPO appears more suitable for long-term investors who are not lured by listing gains.

Brokerage firm Angel One has given an APPLY rating to the IPO and, in its report, mentioned, "Strong earnings growth, improving return ratios, leadership in the magnet winding wires segment, and favourable demand tailwinds from power, renewables, EVs and industrial applications provide healthy long-term visibility."

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.