In a filing to the exchanges on Monday, the company said it allotted 55,46,874 equity shares to anchor investors at Rs 384 per share. The IPO opens for public subscription on December 16 and will close on December 18.
The anchor book saw participation from a mix of global and domestic institutional investors. Among the overseas investors were HSBC Global Investment Funds and Societe Generale. Domestic long-only investors included Kotak Mahindra Life Insurance Company and Edelweiss Life Insurance.
Mutual funds also featured prominently in the anchor allocation. Equity-oriented schemes such as HDFC Manufacturing Fund, Kotak Infrastructure & Economic Reform Fund, LIC MF Large and Mid-Cap Fund, Bank of Baroda Small Cap Fund and Malabar India Fund received shares in the anchor round. Of the total anchor allocation, 41,40,591 shares were allotted to five domestic mutual funds through their various schemes, underscoring the interest from long-term institutional capital.
The anchor placement comes ahead of KSH International’s Rs 710 crore IPO, which comprises a fresh issue of Rs 420 crore and an offer-for-sale of up to Rs 290 crore by promoters Kushal Subbayya Hegde, Pushpa Kushal Hegde, Rajesh Kushal Hegde and Rohit Kushal Hegde. At the upper end of the price band, the issue values the company at Rs 384 per share.
ICICI Securities and Nuvama Wealth Management are acting as the book-running lead managers to the issue, while MUFG Intime India Private Limited is the registrar. Investors can apply for a minimum of 39 equity shares and in multiples thereof.
KSH International operates in a niche but critical segment of the industrial manufacturing value chain. According to a CARE Ratings report cited in the offer documents, the company is the third largest manufacturer of magnet winding wires in India by production capacity in fiscal 2025. It is also the largest exporter of magnet winding wires from India in terms of export revenues during the same period.Founded in 1981, the company began operations at its Taloja facility in Maharashtra and has steadily expanded its manufacturing footprint and product portfolio over the past four decades. Today, KSH International produces a wide range of standard and specialised magnet winding wires that cater to customer-specific requirements across industries such as power, transformers, motors and other electrical equipment.
Its product portfolio includes round enamelled copper and aluminium magnet winding wires, paper insulated rectangular copper and aluminium wires, continuously transposed conductors and bunched paper insulated copper magnet winding wires. The company’s focus on specialised products and export markets has helped it build long-standing relationships with global customers.
The proceeds from the fresh issue are expected to strengthen the company’s balance sheet and support future growth initiatives, while the offer-for-sale will provide partial exits to promoters.
The successful anchor round places KSH International among a growing list of manufacturing-led IPOs that have drawn institutional interest in recent months, even as broader market conditions remain selective. The response from anchor investors will now be tested when the issue opens to retail and non-institutional investors later this week.
