KSH International IPO allotment: Check the application status, latest GMP & listing date

KSH International is likely to finalize the basis of allotment of its shares on Friday, December 19. Applicant bidders will get the messages, alerts or emails for debit of their funds either on the weekend or latest by Monday, December 22. The magnet winding wires player saw a dull response from the investors during the three-day bidding process.

The company eyed to raise a total of Rs 710 crore IPO, which included a fresh shares sale of Rs 420 crore and offer-for-sale (OFS) up to 290 crore. However, the issue size was trimmed as the portion of OFS was reduced to make the issue sail through. However, the actual details around the issue size will be announced later.

The issue was overall subscribed a total of only 83 per cent with only 1.15 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 1.06 times. The non-institutional investors (NIIs) quota was booked only 42 per cent, while the allocation for retail investors was booked only 86 per cent during the three-day bidding process.

KSH International IPO struggled to clear the demand bar. An IPO typically needs at least 90 per cent minimum subscription, of the net offer, to proceed, failing which the issue is required to be withdrawn and application money refunded, said Harshal Dasani, Business Head at INVasset PMS.

"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. If it crosses the minimum, it can list—but the set-up suggests a muted debut rather than a momentum-led pop," he said.

The IPO of KSH International was open for bidding between December 16 and December 18. It had offered its shares in the price band of Rs 16-18 per share with a lot size of 39 shares. The grey market premium (GMP) of KSH International has seen a sharp correction after getting weak bidding response from the investors. Last heard, it was commanding no premium in the unofficial market, suggesting a muted listing for the investors.

Incorporated in 1979, Pune-based KSH International is the third-largest manufacturer and the largest exporter of magnet winding wires in India. KSH International operates under the 'KSH' brand and supplies to OEMs across sectors like power, renewables, railways, automotive, and industrials.

Nuvama Wealth Management and ICICI Securities are the book running lead managers of KSH International IPO and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Monday, December 22. Shares of the company shall be listed on both BSE and NSE on Tuesday, December 23.

Investors, who had bid for the issue of KSH International, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select KSH International Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.