The Pune-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 420 crore and an offer-for-sale of stocks valued at Rs 325 crore by promoters, according to the draft red herring prospectus (DRHP) filed on Thursday.
KSH International, a manufacturer of magnet winding wires, has filed preliminary papers with markets regulator Sebi, seeking its approval to float a Rs 745-crore initial public offering (IPO).
Proceeds from the fresh issue to the extent of Rs 225.98 crore will be used for payment of debt, Rs 90.06 crore to set up new machinery for expansion at its Supa facility and purchasing and setting up of new machinery at Chakan, Pune in Maharashtra; Rs 10.41 crore for setting up of a rooftop solar power plant at its Supa facility; and a portion will be used for general corporate purposes.
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