KSH International Limited is one of India’s most prominent players in the magnet winding wire industry, recognized as the third-largest manufacturer and the largest exporter of magnet winding wires in the country in FY25, according to the CARE Report.
The company operates under the well-established ‘KSH’ brand and supplies high-quality magnet wires to leading OEMs across power, renewables, railways, automotive, industrial machinery, electronics, and home appliances.
KSH International manufactures a wide range of standard and specialized magnet winding wires, tailored to customer-specific technical requirements. The product suite includes:
- Enamelled round copper & aluminium magnet wires
- Enamelled rectangular copper & aluminium magnet wires
- Paper-insulated round and rectangular conductors (PICC & PIAC)
- Continuously Transposed Conductors (CTC)
- Bunched & multi-paper insulated copper magnet wires
These products are critical components used in transformers, motors, alternators, generators, EV traction motors, compressors, windmill generators, hydro turbines, and more—making KSH an essential contributor to India’s electrical ecosystem.
KSH operates three manufacturing facilities in Taloja and Chakan with a combined capacity of 29,045 MTPA. A fourth plant at Supa, Ahilyanagar, began Phase I operations in September 2025, while Phase II—funded through IPO proceeds—will further boost capacity in FY26, enabling the company to meet growing demand across renewables, power T&D, industrials, and EV sectors.
KSH International is an approved supplier to major Indian entities like PGCIL, NTPC, NPCIL, and RDSO, and exports to 24+ countries including the USA, Germany, UAE, Japan, Saudi Arabia, and Italy.
KSH’s in-house R&D enables continuous product improvement and efficient manufacturing. The company is certified with ISO 9001, ISO 14001, ISO 45001, and IATF 16949, ensuring high-quality and industry-compliant production.
KSH International has received awards from major clients like Toshiba, GE, and BHEL, reinforcing its strong industry reputation and customer trust.
KSH International IPO – Details
| IPO Opening Date | 16 December 2025 |
| IPO Closing Date | 18 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,84,89,583 Shares Worth ₹710.00 Crore Fresh Issue: 1,09,37,500 Shares Worth ₹420.00 Crore Offer For Sale: 75,52,083 Shares Worth ₹290.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹365 – ₹384 per share |
| Market Lot | 39 Shares |
| Min Order | 39 Shares [ 1 lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
KSH International IPO – Date Schedule
| IPO Open Date | 16 December 2025 |
| IPO Close Date | 18 December 2025 |
| Basis of Allotment | 19 December 2025 |
| Initiation of Refund | 22 December 2025 |
| Credit of Shares to Demat Account | 22 December 2025 |
| IPO Listing Date | 23 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2025 |
KSH International IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 39 | ₹14,976 |
| Retail (Max) | 13 | 507 | ₹1,94,688 |
| S-HNI (Min) | 14 | 546 | ₹2,09,664 |
| S-HNI (Max) | 66 | 2,574 | ₹9,88,416 |
| B-HNI (Min) | 67 | 2,613 | ₹10,03,392 |
Competitive Strength
- One of the leading manufacturers of magnet winding wires in India, with a comprehensive suite of products used across multiple end-use industries.
- Large, strategically located manufacturing facilities with a focus on advanced technologies and new product and process development.
- Long-standing relationships with our diversified customer base, both domestically and globally.
- Proven track record with necessary certifications and accreditations in an industry which has high barriers to entry.
- Experienced Promoters and Senior Management team.
Company Promoters
- Mr. Kushal Subbayya Hegde
- Mr. Pushpa Kushal Hegde
- Mr. Rajesh Kushal Hegde
- Mr. Rohit Kushal Hegde
- Mrs. Rakhi Girija Shetty
- Dhaulagiri family trust
- Everest family trust
- Makalu family trust
- Broad family trust
- Annapurna family trust
- Kanchenjunga family trust
- Waterloo industrial park VI private limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹1,056.60 Cr | ₹1,021.13 Cr | ₹26.61 Cr | ₹120.35 Cr |
| 31 March 2024 | ₹1,390.50 Cr | ₹1,339.88 Cr | ₹37.35 Cr | ₹206.81 Cr |
| 31 March 2025 | ₹1,938.19 Cr | ₹1,847.76 Cr | ₹67.99 Cr | ₹360.05 Cr |
| 30 June 2025 | ₹562.60 Cr | ₹529.07 Cr | ₹22.68 Cr | ₹379.39 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.17% |
| ROCE | 14.15% |
| Debt/Equity | 0.82 |
| RoNW | 16.17% |
| PAT Margin | 2.69% |
| Pre IPO | Post IPO | |
| EPS (₹) | 6.57 | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment of certain company borrowings. | ₹225.98 |
| Purchase and setup of new machinery at 2 plants. | ₹87.02 |
| Purchase and setup of a rooftop solar power plant for power generation at our Supa Facility. | ₹8.83 |
| General corporate purposes. |
KSH International IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Precision Wires India Limited | 50.60 |
| 2 | 5 | Ram Ratna Wires Limited | 40.37 |
✅Strengths
- Largest exporter & 3rd-largest manufacturer of magnet winding wires in India.
- Diversified product range: enamelled wires, paper-insulated wires, CTC, bunched conductors.
- Strong export presence across 24+ countries.
- Approved supplier to PGCIL, NTPC, NPCIL, RDSO.
- Capacity expansion underway with new Supa plant to boost growth.
- High financial growth: Revenue CAGR 35.55%, PAT CAGR 59.83%, ROE 22.77%.
- Strong quality systems with ISO 9001, 14001, 45001 & IATF 16949 certifications.
⚠️Risks
- High dependence on copper & aluminium—price volatility impacts margins.
- Forex exposure due to large export revenue.
- Working-capital–intensive business, risk of shortages or delays.
- High debt levels & restrictive loan caovenants may limit flexibility.
- Promoter personal guarantees tied to several bank facilities.
- Loss of quality certifications could affect OEM approvals.
- Past delays in statutory payments like PF, ESI, TDS may invite penalties.
KSH International IPO Promoter Holding
| Pre Issue Share Holding | 98.40% |
| Post Issue Share Holding | 71.37% |
KSH International IPO Prospectus
Company Contact Information
| KSH International Ltd. 11/3, 11/4 and 11/5 Village Birdewadi Chakan Taluk Khed Pune, Maharashtra, 410501 Phone: +91 20 45053237 Email: cs.connect@kshinternational.com Website: https://kshinternational.com/ |
KSH International IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: kshinternational.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
KSH International IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Nuvama Wealth Management Limited |
KSH International IPO FAQs
| What is KSH International IPO? KSH International IPO is a main-board IPO. The issue is priced at ₹365 to ₹384 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will KSH International IPO open? The IPO is to open on 16 December 2025 for QIB, NII, and Retail Investors. |
| What is KSH International IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is KSH International IPO Size? KSH International’s IPO size is ₹710.00 Crore. |
| What is the KSH International IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 39 Shares with ₹14,976, while the maximum bid is 507 Shares with ₹1,94,688. |
| What is the KSH International IPO Allotment Date? KSH International IPO allotment date is 19 December 2025. |
| What is the KSH International IPO Listing Date? KSH International IPO listing date is 23 December 2025. The IPO is to be listed on BSE and NSE. |
