KSH International IPO allotment LIVE: How to check status on BSE, NSE despite less than 90% subscription? Track GMP here

KSH International reported strong financial performance, with revenue increasing from ₹1,382.8 cr in FY24 to ₹1,928.3 cr in FY25 (+39.4% YoY). EBITDA rose from ₹71.5 cr to ₹122.5 cr, with margin expansion to 6.35%, while PAT grew from ₹37.4 cr to ₹68.0 cr, translating into a PAT margin of 3.5%.

Export revenues stood at ₹590.4 cr 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.

During FY23/FY24/FY25/1QFY26, the company derived 79.1% / 75.2% / 74.8% / 71.7% of its revenues, respectively, from the power sector (generation, transmission, and distribution). Any economic cyclicality, coupled with reduced demand or negative trends in the power sector, may have an adverse impact on the company’s performance.

The company’s products include both:

a) specialized magnet winding wires (~70.1% of FY25 revenue) and

b) standard magnet winding wires (~23.6% of FY25 revenue),

During FY23/FY24/FY25, the company served a total of 117/117/122 customers respectively and has further invoiced 93 customers as of Jun’25. KSH’s magnet winding wires are globally recognized by industry leaders such as Toshiba Transmission & Distribution Systems and Meidensha Corp, which underscores the company’s commitment to delivering high-quality products.

KSH operated 3 manufacturing facilities (Unit I in Taloja, Raigad and Unit II & III at Chakan, Pune) with a combined annual installed capacity of 29,045 MT as of Jun’25. Further, it has commissioned Phase I at its 4th facility at Supa, Ahilyanagar during Sep’25. These facilities are strategically located near Jawaharlal Nehru Port, Navi Mumbai, which helps the company reduce logistics cost.

1. Repayment of certain company borrowings – ₹225.98 crore

2. Purchase and setup of new machinery at 2 plants – ₹87.02 crore

3. Purchase and setup of a rooftop solar power plant for power generation at Supa Facility – ₹8.83 crore

4. General corporate purposes

KSH International IPO GMP today is nil. This means that shares of KSH International IPO are trading at par with the offer price in the grey market. At the prevailing GMP, KSH International IPO could list at the same as IPO price.

However, it remains to be seen if KSH International IPO will list as the subscription remains below the required 90% mark.

1. Head to the website of MUFG Intime using this link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
2. Select company name from the dropdown as KSH International
3. Select any of the options: PAN/Application Number/DP or Client ID/Account Number
4. Enter details related to the option selected
5. Hit Submit

1. Head to the NSE IPO allotment page using this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

2. Select Equity & SME IPO bid details

3. From the dropdown, select the symbol: KSH Internationa

4. Enter your PAN Number and your Application Number

5. Hit Submit

1. Head to the BSE website using this link: https://www.bseindia.com/investors/appli_check.aspx

2. Select issue type as 'equity'

3. From the issue name dropdown, pick KSH International

4. Enter application number or PAN number

5. Select I am not a robot

6. Hit search

An IPO typically needs at least ~90% minimum subscription (of the net offer) to proceed, failing which the issue is required to be withdrawn and application money refunded.

With the number still below that threshold, the base case is no listing, unless final bid updates/validations or underwriter devolvement meaningfully lift the subscription above the minimum requirement during finalization, said Harshal Dasani, Business Head at INVAsset PMS. If it crosses the minimum, it can list—but the set-up suggests a muted debut rather than a momentum-led pop, he added.

The IPO was booked 83% at the end of the three-day bidding process from December 16 to December 18.

Among the investor categories, the Qualified Institutional Buyers (QIBs) segment was fully subscribed at 1.06 times. The Retail Individual Investors (RIIs) portion was subscribed 86%, while the Non-Institutional Investors (NIIs) category saw a subscription of 42%.

According to SEBI guidelines, an IPO must garner 90% bids.

Following the subscription, the share allotment status for the KSH International IPO is expected to be fixed on December 19.

However, as the IPO has failed to reach the required 90% subscription as per the SEBI guidelines, KSH International is likely to extend the issue period or the underwriters step in.