Shares of KSH International made a muted debut on the stock market today, December 23. The share price of the company got listed at a discount of 3.65% over the issue price.
KSH International IPO: Subscription recap
The company’s IPO closed with an overall subscription of 0.87 times, indicating that the issue was not fully subscribed. Retail investors subscribed 0.91 times, while non-institutional investors showed weaker interest with a subscription of just 0.44 times.
Qualified institutional buyers, excluding anchor investors, subscribed the issue 1.12 times.
KSH International IPO: Issue size and structure
The KSH International IPO was a book-built issue sized at Rs 644.45 crore. It comprised a fresh issue of 1.09 crore shares worth Rs 420 crore and an offer for sale of 0.58 crore shares worth Rs 224.45 crore.
Funds raised through the fresh issue are expected to support the company’s business plans, while the offer for sale allowed existing shareholders to partially exit their holdings.
The price band for the IPO was fixed at Rs 365-384 per share
KSH International IPO: Grey market trend before listing
Ahead of listing, shares of KSH International were available at a discount of around Rs 2 in the grey market. This implied that the IPO could list below the upper end of the price band.
However , it is important to note that grey market premiums are not official indicators and fluctuate based on market sentiment.
KSH International IPO: Key dates and process timeline
The IPO opened for subscription on December 16 and closed on December 18. The allotment of shares was finalised on December 19, with refunds and share credits processed soon after.
KSH International IPO: Who managed the issue
Nuvama Wealth Management acted as the book-running lead manager for the IPO. MUFG Intime served as the registrar, handling allotments and investor records.