KSH International IPO: 28% subscription on day 2; GMP slumps back to zero

Kolkata: The bidding process of KSH International IPO is set to close today, Dec 18. The issue didn't have much of a success on the first two days of the bidding process. Till the end of the second day of the application process, KSH International IPO was subscribed 0.28 times overall --0.50 times in the retail category, 0.00 times in QIB (Ex Anchor), and 0.13 times in the NII category. Significantly, the QIB or Qualified Institutional Buyers is category is significant, since it usually consists of banks, insurance companies and mutual funds who have the deep pockets for big investment and the analytical skills and tools to dissect an issue threadbare.

KSH International IPO is designed to raise Rs 710 crore through a combination of fresh issue of 1.09 crore shares aggregating to Rs 420 crore and an OFS pat of 0.76 crore shares amounting to Rs 290 crore. On Dec 15, it informed the stock exchanges that it managed to raise Rs 213 crore from anchor investors. Analysts indicated that KSH International is directly linked to India's long term power, renewable energy and EV growth cycle.

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According to investorgain, the KSH International IPO GMP slumped back to zero on Dec 17 (day two of bidding) after rising to Rs 6 o Dc 16, the first day of the biding process. It has been languishing at zero from Dec 11 till Dc 16. However, it must be remembered that MP is an unofficial gauge that is volatile and does not guarantee anything -- gain or loss on listing.

KSH International IPO price band is Rs 365-384. For a retail investor, the smallest investible lot is 39 shares for which one will need a minimum investment of Rs 14,976 based on the upper price band. The lot size investment for sNII investors is 546 shares and that for bNII investors is 2,613 shares. The book running lead managers and the registrar to the issue are Nuvama Wealth Management and MUFG Intime India respectively.

Bid closes: Today (Dec 18)

Cut-off time for UPI mandate confirmation: 5 pm on Dec 18

Allotment: Dec 19

Refunds: Dec 22

Credit of shares to demat: Dec 22

Listing: Dec 23

KSH International is the third-largest manufacturer and the largest exporter of magnet winding wires in the country. It is a supplier to various OEMs in power, renewables, railways, automotive and industrials sectors. Its products are exported to 24 countries the US, Germany, Japan and the UAE.