KSH International IPO Listing Highlights: Shares list at discount of 3.65% over issue price

After a muted listing on the bourses, shares of KSH International dipped further to touch the low of Rs 355 on the BSE, a dip of 4.05 per cent from the listing price of Rs 370.

In the pre-opening session, KSH International shares settled at Rs 370 on the BSE, a discount of 3.65 per cent to the issue price of Rs 384.

In the pre-opening session, shares of KSH International settled at Rs 370 on the NSE, a discount of 3.65 per cent to the issue price of Rs 384.

The company has 117 customers, including the likes of Bharat Bijlee, Virginia Transformer Corporation, Bharat Heavy Electricals Ltd, Georgia Transformer Corporation, Hitachi Energy India, and Siemens Energy India.

KSH International, part of the KSH group, commenced its operations in 1981 by manufacturing magnet winding wires in Raigad, Maharashtra, and in the last four decades, it has diversified its operations to manufacturing various types of standard and specialised magnet winding wires.

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Proceeds from the fresh issue will be used for payment of debt, setting up of new machinery for expansion at its Supa facility and purchasing and setting up of new machinery at Chakan, Pune in Maharashtra.

The IPO is a combination of fresh issue of shares worth Rs 420 crore and an offer-for-sale of stocks valued at Rs 290 crore by promoters.

The Pune-based KSH International's Rs 710 crore initial public offering (IPO) has a price band of Rs 365-384 per share.

According to Investorgain, KSH International's unlisted shares are trading at a discount of Rs -2 . Considering the upper price band of Rs 384, the company's shares are expected to list at around Rs 382.

KSH International fetched 83 per cent subscription on the closing day of share sale on Thursday. The IPO received bids for 1,12,35,627 shares against 1,36,16,438 shares on offer.