KI
KSH International
Book Building issueMainboardNSE₹626 Cr issue
-3.65%
Listing gain over issue price
Issue size
₹626 Cr
1 lot at cut-off
₹14,976
Lot size
39shares
Open
16 Dec 2025
Close
18 Dec 2025
Allotment
19 Dec 2025
Listing
23 Dec 2025
Listing performance
Issue price
₹384
Listed at
₹370
Listing-day close
₹355
Latest price
₹841.80
Listing gain
-3.65%
Return since listing
+119.22%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
−₹2
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 23 Dec 2025 | −₹2 | −0.52% | ₹0 | ₹382 | −₹78 |
| 22 Dec 2025 | −₹2 | −0.52% | ₹0 | ₹382 | −₹78 |
| 21 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹384 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 16 Dec 2025 – 18 Dec 2025
- Listing date
- 23 Dec 2025
- Face value
- ₹5 per share
- Issue price
- ₹384 per share
- Lot size
- 39 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹626 Cr
- Market cap at offer price
- ₹2,602 Cr
- Promoter holding
- 98.40% → 71.36% pre-issue → post-issue
- ISIN
- INE987S01020
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Nuvama Wealth Management Ltd.
- Registered office
- 11/3, 11/4 and, 11/5 Village Birdewadi Chakan, Taluk Khed, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 55,46,874 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 39 shares per lot, in multiples, at ₹384
| 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 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
55,46,874
Anchor portion
₹213 Cr
at ₹384 per share
Valuation and performance
Valuation at offer price
₹384 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 11.97 | 13.39 |
| P/E (×) | 32.08 | 28.68 |
| Price to book (×) | 7.31 | — |
| Market cap | — | ₹2,602 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 22.77%
- ROCE
- 16.60%
- Debt / equity
- 1.17
- PAT margin
- 3.51%
- EBITDA margin
- 6.35%
- NAV per share
- ₹52.54
- Price to book
- 7.31
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About KSH International
KSH International Limited, originally incorporated as Bhandary Metal Extrusion Private Limited on July 30, 1979, is a manufacturer of specialized magnet winding wires and related products critical to capital goods such as transformers, motors, alternators and generators. The company's products include round enamelled copper/aluminium magnet winding wires, paper insulated rectangular copper/aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/aluminium magnet winding wires and bunched paper insulated copper magnet winding wires. The company generates revenue primarily from the power sector (71.73% of operating revenue in Q1 FY26), with more than 70% of revenue from specialized magnet winding wires. For Fiscal 2025, the company reported revenue from operations of ₹19,282.93 million with restated profit of ₹679.88 million. The company operates three manufacturing facilities in India and exports approximately 30.75% of its products.
Company Analysis
from RHPKSH International Limited is the third largest manufacturer of magnet winding wires in India by production capacity and the largest exporter of magnet winding wires from India, serving power generation, transmission, and distribution sectors.
KSH International Limited, originally incorporated as Bhandary Metal Extrusion Private Limited on July 30, 1979, is a manufacturer of specialized magnet winding wires and related products critical to capital goods such as transformers, motors, alternators and generators. The company's products include round enamelled copper/aluminium magnet winding wires, paper insulated rectangular copper/aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/aluminium magnet winding wires and bunched paper insulated copper magnet winding wires. The company generates revenue primarily from the power sector (71.73% of operating revenue in Q1 FY26), with more than 70% of revenue from specialized magnet winding wires. For Fiscal 2025, the company reported revenue from operations of ₹19,282.93 million with restated profit of ₹679.88 million. The company operates three manufacturing facilities in India and exports approximately 30.75% of its products.
Power generation, transmission and distributionIndustrial equipmentAutomotive (EV and ICE)Home appliancesRefrigeration and air conditioning
Objects of the Issue
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company ₹2,259.77 million p.24
- Funding the capital expenditure requirements of our Company towards: (i) purchasing and setting up of new machinery for expansion at our Supa Facility (ii) purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra ₹870.17 million p.24
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of a rooftop solar power plant for power generation at our Supa Facility ₹88.28 million p.24
- General corporate purposes p.24
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company p.60
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery for expansion at our Supa Facility p.60
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra p.60
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of a rooftop solar power plant for power generation at our Supa Facility p.60
- General corporate purposes p.60
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company ₹2,259.77 million p.111
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery for expansion at our Supa Facility (Phase II Expansion at our Supa Facility) ₹783.77 million p.118
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra ₹86.39 million p.122
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of a rooftop solar power plant for power generation at our Supa Facility ₹88.28 million p.123
- General corporate purposes p.123
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery for expansion at our Supa Facility p.223
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of a rooftop solar power plant for power generation at our Supa Facility p.223
- Funding the capital expenditure requirements of our Company towards purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra p.223
- Funding the capital expenditure requirements of the Company towards: (i) purchasing and setting up of new machinery for expansion at Supa Facility (Phase II Expansion at Supa Facility) p.363
- Funding the capital expenditure requirements of the Company towards: (ii) purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra p.363
- Funding capex for manufacturing operations and enhancing manufacturing capabilities Not specified in this section p.381
- Working capital requirements Not specified in this section p.381
- Offer Related Expenses To be deducted from proceeds p.414
Issue Structure
- Total Issue
- Up to ₹7,100.00 million
- Fresh Issue
- Up to ₹4,200.00 million
- Offer for Sale
- Up to ₹2,900.00 million
- Price Band
- [●] per Equity Share (Floor Price) to [●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares
- Face Value
- ₹5 each
Business Model
The company manufactures and sells specialized and standard magnet winding wires to customers in the power sector (generation, transmission, distribution), industrials, automotives, home appliances, refrigeration and air conditioning. Revenue is generated from the sale of magnet winding wires and related products to domestic customers and export markets. The business model involves procurement of raw materials (primarily copper and aluminium) and insulating materials (enamel and paper), manufacturing through proprietary processes, and sale on a purchase order basis to customers including transformer manufacturers and power equipment suppliers.
Business Segments
Round enamelled copper/aluminium magnet winding wires, paper insulated rectangular copper/aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/aluminium magnet winding wires and bunched paper insulated copper magnet winding wires used in transformers, motors, alternators and generators.
Standard magnet winding wires serving various industrial applications.
Manufacture of specialised magnet winding wires using Paper Insulated Copper Conductor (PICC) and Continuously Transposed Conductors (CTC) technologies for high-performance electrical machinery applications
Manufacture of standard magnet winding wires using Round Wire Conductors (RW) for general purpose electrical machinery applications
Standard magnet winding wires essential in general electrical applications including motors, transformers, and coils. Market experienced steady growth from USD 1.08 billion in CY19 to USD 1.34 billion in CY24, with expected growth to USD 1.60 billion by CY28 at CAGR of 4.63%.
Specialty magnet winding wires designed for high-performance applications with enhanced insulation, reduced energy losses, and superior mechanical strength. Market grew from USD 2.45 billion in CY19 to USD 3.05 billion in CY24, expected to reach USD 3.68 billion by CY28 at CAGR of 4.78%.
Paper-insulated copper wires used in high-performance applications like transformers and heavy motor electrical windings, providing enhanced dielectric strength and thermal stability
Highly specialized electrical conductors consisting of multiple rectangular enamel-insulated copper strands precisely arranged and continuously transposed for use in power transformer windings, minimizing electrical losses
Round and rectangular copper and aluminium conductors coated with enamel insulation for use in motors, transformers, and other electrical equipment applications
Round and rectangular copper wires insulated with specialized tapes such as Nomex, Mica, and Kapton for demanding electrical applications
Specialized conductors constructed with multiple layers of paper insulation, typically impregnated with oils or resins, for high-voltage and high-reliability applications
Uninsulated copper and aluminium conductors for various winding applications
Includes round enamelled copper magnet winding wires, round enamelled aluminium magnet winding wires, rectangular enamelled copper magnet winding wires, and rectangular enamelled aluminium magnet winding wires manufactured using high-quality electrolytic grade copper and aluminum rods with various types of enamels from thermal class 120°C to 240°C.
Includes paper insulated rectangular copper/aluminium magnet winding wires, continuously transposed conductors (CTCs), and bunched paper insulated copper magnet winding wires. These products involve multiple layers of specially treated paper for insulation and are used for high voltage applications.
Manufactures and sells round enamelled copper/aluminium magnet winding wires, paper insulated rectangular copper/aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/aluminium magnet winding wires, and bunched paper insulated copper magnet winding wires. Products are critical components of capital goods such as transformers, motors, alternators and generators used in power, renewables, industrials, railways, automotive, home appliances, refrigeration and air conditioning sectors.
The company operates in the single business segment of winding wires, including special magnet winding wires used in large transformers, HVDC systems and other high-capacity equipment, and standard magnet winding wires for fast-moving electrical goods.
SWOT Analysis
Strengths
- • Third largest magnet winding wire manufacturer in India by production capacity(p.23)
- • Largest exporter of magnet winding wires from India by export revenue(p.23)
- • Diversified product portfolio for critical capital goods applications(p.23)
- • Strong financial performance with revenue CAGR of 38.9% (FY23-FY25)(p.26)
- • Approved supplier for government and international organizations(p.39)
- • Extensive product range in winding wires market(p.52)
- • Dedicated R&D team for continuous innovation(p.52)
- • Strong credit ratings from CARE Ratings(p.52)
- • Third largest magnet winding wire manufacturer in India with comprehensive product portfolio(p.117)
- • Largest exporter of magnet winding wires from India by export revenue(p.117)
- • Strong financial performance with consistent revenue and profit growth(p.130)
- • High profitability and return metrics outperforming peers(p.130)
- • Long operational history with established market presence(p.117)
- • Strategic expansion capacity with Phase I facility operational and Phase II planned(p.117)
- • Leading market position in magnet winding wire exports with 30.62% export revenue growth(p.208)
- • Third-largest producer in India's magnet winding wire industry with 8.47% market share(p.206)
- • Diversified product portfolio across standard and specialty magnet winding wires(p.202)
- • Strong export presence across 20+ countries with established distribution network(p.202)
- • Operational efficiency with 81% capacity utilization in FY25(p.207)
- • Strategic geographic location near major OEM clusters for transformers and electrical equipment(p.207)
- • Third largest magnet winding wire manufacturer in India by production capacity(p.214)
- • Largest exporter of magnet winding wires from India by export revenue(p.214)
- • Strong revenue and profitability growth outpacing peers(p.210)
- • Highest EBITDA and PAT margins among peers over three fiscal years(p.211)
- • Strong EBITDA CAGR of 56.70% significantly exceeding peer average of 22.06%(p.211)
- • Diversified product portfolio across standard and specialized winding wires(p.216)
- • Established approvals from major Indian government organizations including PGCIL, NTPC, NPCIL, RDSO(p.214)
- • High fixed asset turnover ratio of 15.19 times in FY25 exceeding peer average of 14.43(p.212)
- • Established corporate governance framework with constituted Board committees(p.261)
- • Diversified revenue sources from domestic and export markets(p.323)
- • Stable and experienced management team with long tenure at the Company(p.269)
- • Strong promoter backing with significant equity ownership(p.272)
- • Third-largest magnet winding wire manufacturer in India by capacity(p.359)
- • Largest exporter of magnet winding wires from India by export revenues(p.359)
- • Significant capacity expansion with newest facility operational since September 2025(p.360)
- • Long-standing customer relationships with established OEMs and multinational corporations(p.359)
- • Global pre-qualifications from government and power sector entities for HVDC and EHV transformers(p.360)
- • Strong export reach across 24 countries as of June 2025(p.360)
- • Four decades of industry experience and established brand recognition(p.359)
- • Strong EBITDA and PAT growth with 56.70% EBITDA CAGR and 59.83% PAT CAGR from Fiscal 2023-2025(p.361)
- • Strong revenue growth driven by renewable energy expansion(p.380)
- • Significant sales growth and operating leverage(p.380)
- • Strong profit growth demonstrating operational efficiency(p.381)
- • Positive cash generation from operations historically(p.382)
Weaknesses
- • High customer concentration risk with top 10 customers accounting for 53.97% of revenue(p.31)
- • Heavy dependence on limited suppliers with top 10 suppliers providing 98.91% of raw materials(p.31)
- • Negative cash flows from operating activities in past years(p.40)
- • Delays in completing Supa manufacturing facility construction(p.38)
- • Unable to trace historical corporate records and certifications(p.41)
- • Geographical concentration of manufacturing in Maharashtra(p.48)
- • Significant indebtedness constrains financial flexibility(p.48)
- • Under-utilization of manufacturing capacity in standard magnet winding wires(p.48)
- • Delays in statutory dues payments(p.49)
- • Reliance on demand-on-recall unsecured loans(p.55)
- • Dependence on key promoters without formal succession plan(p.55)
- • KSH trademark shared with 18 other group entities(p.57)
- • Insurance claim recently rejected by insurer(p.58)
- • Significant debt burden relative to equity(p.130)
- • High leverage with debt-to-EBITDA ratio above 2.8x(p.130)
- • Historical corporate governance issues including missing records and filing errors(p.91)
- • Significant working capital requirements with 80 days net working capital days in Fiscal 2025(p.130)
- • Smaller revenue base compared to market leaders Precision Wires and Ram Ratna(p.207)
- • Limited backward integration in raw material production compared to peers(p.207)
- • Exposure to raw material price volatility without guaranteed supply sources(p.166)
- • Dependence on large consolidated customers who exert significant negotiating power(p.166)
- • Higher working capital days of 80 compared to peer average of 21 days(p.212)
- • Increasing net debt-to-equity ratio from 0.59x in FY23 to 1.17x in FY25(p.221)
- • Net debt-to-equity ratio of 1.17x in FY25 higher than peer average of 0.30x(p.213)
- • Dependence on a concentrated customer base in OEM sector(p.214)
- • Three manufacturing facilities concentrated in Maharashtra state(p.217)
- • Leasehold nature of some key manufacturing facilities exposes to renewal risks(p.232)
- • High debt levels with significant borrowing obligations(p.316)
- • Concentration of shareholding among promoters and family members(p.272)
- • Recent board changes with multiple director resignations(p.260)
- • Exposure to credit risk from trade receivables(p.310)
- • High dependence on top 10 suppliers for 98+ percent of raw materials(p.362)
- • No long-term supply agreements with raw material suppliers(p.362)
- • Limited number of qualified suppliers for critical insulating materials(p.362)
- • High leverage with Net Debt/Equity ratio of 1.16 as of June 30, 2025(p.361)
- • Significant finance costs with 9.27x Net Debt/EBITDA ratio as of June 30, 2025(p.361)
- • Lack of long-term contracts with customers relying on purchase order basis(p.363)
- • Severe dependence on top 10 customers for majority of revenue(p.385)
- • Extreme dependence on top 10 suppliers for raw materials(p.385)
- • High leverage and debt burden(p.385)
- • Significant working capital requirements constraining cash flow(p.382)
- • Rising finance costs impacting profitability(p.381)
Opportunities
- • Electric wires and cables market projected to reach USD 29.85 billion by CY28(p.23)
- • Growing power sector demand driving magnet winding wire consumption(p.35)
- • Expansion of manufacturing capacity at Supa Facility and Unit 2(p.24)
- • Rooftop solar power generation for operational efficiency(p.24)
- • Debt reduction improving financial flexibility(p.24)
- • Capacity expansion in high-demand magnet winding wire sector(p.47)
- • Growing demand for specialized magnet winding wires(p.48)
- • Renewable energy integration through solar power plant(p.51)
- • Export market growth opportunity(p.36)
- • Growing magnet winding wire market with strong CAGR projections(p.118)
- • Expanding demand from multiple high-growth end-use industries including EVs and renewables(p.118)
- • Capacity expansion to capture market share growth and geographic proximity advantage(p.118)
- • Market consolidation opportunity with increased market share potential(p.118)
- • China+1 strategy creating export opportunities for Indian manufacturers(p.118)
- • Indian government infrastructure and manufacturing support initiatives(p.145)
- • Rapid expansion of renewable energy sector with 500 GW target by 2030 requiring winding wires(p.159)
- • Electric vehicle market growth with CAGR of 66.58% through 2029 increasing traction motor demand(p.161)
- • Metro rail expansion to 1,700 km across 27 cities by 2025, requiring traction motors with winding wires(p.188)
- • Power transmission capacity expansion with transformation capacity growing to 2.38 million MVA by 2032(p.161)
- • Government PLI schemes and export incentives supporting industry growth and cost competitiveness(p.150)
- • India positioned to benefit from China Plus One strategy with global supply chain diversification(p.150)
- • Magnet winding wire market growth from USD 4.39 billion in CY24 to USD 5.28 billion in CY28 at 4.78% CAGR(p.161)
- • Expansion of infrastructure development with government capex allocation of Rs 11.21 lakh crores for FY26(p.146)
- • Expansion into high-value segments like HVDC, 765 KV transformers and EV traction motors(p.222)
- • Indian EV market forecasted to grow at 66.58% CAGR from USD 3.2B (2022) to USD 113.9B (2029)(p.222)
- • Global expansion to 24 countries with opportunity to enter new international markets(p.222)
- • Cross-selling opportunities with existing customers across business divisions(p.223)
- • Backward integration into copper rod manufacturing to reduce costs and volatility(p.224)
- • Renewable energy investments to reduce operational costs and improve sustainability(p.223)
- • Capacity expansion through new Supa facility and upgrades to existing units(p.223)
- • Leveraging 'China Plus One' strategy to capture global supply chain diversification(p.222)
- • Capacity expansion through new manufacturing facility(p.308)
- • Export market growth with existing international presence(p.323)
- • Growth through new service offerings and revenue streams(p.323)
- • Growth in renewable energy and power transmission infrastructure in India(p.378)
- • Expanding demand from fast-moving electrical goods sector for air conditioners, fans and appliances(p.378)
- • Planned backward integration into copper rod manufacturing to support circular economy(p.363)
- • Substantial planned capacity expansion with Phase II at Supa facility under construction(p.363)
- • Growth in automotive and railway sectors with EV and ICE applications(p.363)
- • Growing demand from electrical goods sector expansion(p.380)
- • Expansion in transmission infrastructure for renewable integration(p.380)
Threats
- • High commodity price volatility for copper and aluminium raw materials(p.35)
- • Power sector cyclicality and demand volatility(p.35)
- • International sanctions and geopolitical risks affecting exports(p.27)
- • Regulatory compliance and licensing risks(p.40)
- • Manufacturing facility operational disruptions and supply chain interruptions(p.37)
- • Product quality defects and liability exposure(p.38)
- • Intense competition from global and regional players(p.43)
- • Price pressures from unorganized sector competitors(p.43)
- • Disruptions in power and fuel supply(p.51)
- • Volatile raw material and energy costs(p.51)
- • Foreign exchange rate fluctuations affecting exports(p.52)
- • Regulatory changes in labour and compliance requirements(p.61)
- • Natural disasters and geopolitical events(p.63)
- • Macroeconomic slowdown and reduced consumer spending(p.62)
- • Potential downgrade of India's sovereign credit rating(p.65)
- • Global economic slowdown and trade disruption risks(p.141)
- • Geopolitical tensions and external economic uncertainties(p.142)
- • Industry cyclicality and exposure to multiple end-use sectors(p.117)
- • Exposure to commodity price fluctuations for copper raw materials(p.117)
- • Competition from established peers and import threats(p.129)
- • Copper price volatility with historical swing from USD 7,742 to USD 9,985 per ton impacting input costs(p.165)
- • Currency fluctuation risk with rupee depreciation to Rs 85 per USD as of December 2024 increasing import costs(p.166)
- • Intense competitive pressure from established global and regional players plus unorganized sector(p.166)
- • Stringent regulatory compliance requirements increasing production costs for RoHS, BIS, and electrical safety standards(p.166)
- • U.S. tariff impact on exports with 50% baseline tariff although wires and cables are only 0.53% of exports(p.150)
- • Supply chain power imbalance with dominant raw material suppliers controlling pricing and terms(p.166)
- • High barriers to entry due to pre-qualification requirements from government and corporate buyers limiting market access(p.167)
- • Excess capacity in certain segments leading to price wars and margin compression(p.167)
- • Intense competition from established global and regional players and unorganized sector(p.237)
- • High upfront capital investment required for specialized manufacturing equipment(p.221)
- • Dependence on copper as critical raw material subject to commodity price volatility(p.236)
- • Environmental regulations and compliance requirements for manufacturing operations(p.243)
- • Significant barriers to entry due to stringent pre-qualification requirements by procurement agencies(p.220)
- • Regulatory compliance including labor, environmental, and safety laws across multiple jurisdictions(p.245)
- • Export market exposure to foreign exchange fluctuations and geopolitical risks(p.219)
- • Exposure to commodity price fluctuations in raw materials(p.323)
- • Dependence on bank financing for working capital and operations(p.317)
- • Foreign exchange volatility affecting export revenues(p.323)
- • Regulatory compliance requirements for listed company operations(p.261)
- • Significant competition from established global and regional players plus unorganized sector(p.364)
- • Competitors may have greater resources, broader product ranges and stronger brand recognition(p.364)
- • Volatility in commodity prices for copper and aluminium(p.362)
- • Foreign exchange risk with 30.50% of revenue from exports denominated in foreign currencies(p.363)
- • Risk of disruptions to manufacturing from equipment failures, labor disputes, and natural disasters(p.363)
- • Stringent regulatory compliance requirements for environmental and occupational health and safety(p.363)
- • Volatility in raw material prices affecting margins(p.385)
- • Intense competitive pressure in the industry(p.385)
- • Risk of loss of major customers adversely affecting revenue(p.385)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Kushal Subbayya Hegde | Promoter | 47.00% | — |
| Pushpa Kushal Hegde | Promoter | 13.00% | — |
| Rajesh Kushal Hegde | Promoter | 19.20% | — |
| Rohit Kushal Hegde | Promoter | 19.20% | — |
| Rakhi Girija Shetty | Promoter | 0.00% | — |
| Dhaulagiri Family Trust | Promoter | 0.00% | — |
| Everest Family Trust | Promoter | 0.00% | — |
| Makalu Family Trust | Promoter | 0.00% | — |
| Broad Family Trust | Promoter | 0.00% | — |
| Annapurna Family Trust | Promoter | 0.00% | — |
| Kanchenjunga Family Trust | Promoter | 0.00% | — |
| Waterloo Industrial Park VI Private Limited | Promoter | — | — |
| Kushal Subbayya Hegde | Promoter/Chairman and Executive Director | — | — |
| Pushpa Kushal Hegde | Promoter | — | — |
| Rajesh Kushal Hegde | Promoter/Managing Director | — | — |
| Rohit Kushal Hegde | Promoter/Joint Managing Director | — | — |
| Rakhi Girija Shetty | Promoter/Whole-time Director | — | — |
| Kushal Subbayya Hegde | Promoter | 47.00% | — |
| Pushpa Kushal Hegde | Promoter | 13.00% | — |
| Rajesh Kushal Hegde | Promoter | 19.20% | — |
| Rohit Kushal Hegde | Promoter | 19.20% | — |
| Rakhi Girija Shetty | Promoter | 0.00% | — |
| Dhaulagiri Family Trust | Promoter | 0.00% | — |
| Everest Family Trust | Promoter | 0.00% | — |
| Makalu Family Trust | Promoter | 0.00% | — |
| Broad Family Trust | Promoter | 0.00% | — |
| Annapurna Family Trust | Promoter | 0.00% | — |
| Kanchenjunga Family Trust | Promoter | 0.00% | — |
| Maithili Rajesh Hegde | Promoter Group | 0.00% | — |
| Katyayani Balasubramanian | Promoter Group | 0.00% | — |
| Kushal S Hegde | Promoter | — | — |
| Kushal Subbayya Hegde | Promoter | — | — |
| Rajesh Kushal Hegde | Promoter | — | — |
| Rohit Kushal Hegde | Promoter | — | — |
| Rakhi Girija Shetty | Promoter | — | — |
| Kushal Subbayya Hegde | Promoter | 47% | — |
| Pushpa Kushal Hegde | Promoter | 13% | — |
| Rajesh Kushal Hegde | Promoter | 19.20% | — |
| Rohit Kushal Hegde | Promoter | 19.20% | — |
| Rakhi Girija Shetty | Promoter | 0.00% | — |
| Dhaulagiri Family Trust | Promoter Group | 0.00% | — |
| Everest Family Trust | Promoter Group | 0.00% | — |
| Makalu Family Trust | Promoter Group | 0.00% | — |
| Broad Family Trust | Promoter Group | 0.00% | — |
| Annapurna Family Trust | Promoter Group | 0.00% | — |
| Kanchenjunga Family Trust | Promoter Group | 0.00% | — |
| Waterloo Industrial Park VI Private Limited | Corporate Promoter | — | — |
| Kushal Subbayya Hegde | Individual Promoter | — | — |
| Rajesh Kushal Hegde | Individual Promoter | — | — |
| Rohit Kushal Hegde | Individual Promoter | — | — |
| Kushal Subbayya Hegde | Promoter/Promoter Selling Shareholder | — | — |
| Pushpa Kushal Hegde | Promoter/Promoter Selling Shareholder | — | — |
| Rajesh Kushal Hegde | Promoter/Promoter Selling Shareholder | — | — |
| Rohit Kushal Hegde | Promoter/Promoter Selling Shareholder | — | — |
Leadership
Kushal Subbayya Hegde · Chairman and Executive Director
Rajesh Kushal Hegde · Managing Director
Rohit Kushal Hegde · Joint Managing Director
Rakhi Girija Shetty · Whole-time Director
Sandesh Bhagwat · Chief Executive Officer
Amod Joshi · Chief Financial Officer
Sarthak Malvadkar · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.