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Pune-based KSH International files DRHP for Rs 745 crore IPO

Pune-based KSH International, the third largest manufacturer of magnet winding wires in India in terms of production capacity in Fiscal 2024, has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise Rs 745 crore through Initial Public Offering (IPO).
 
The IPO, with a face value of Rs 5, is a mix of fresh issue of shares up to Rs 420 crore and an offer-for-sale up to Rs 325 crore by Promoter Selling Shareholders.
 
The proceeds from the fresh issue to the extent of Rs 225.98 crores for prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company; Rs 90.06 crore for funding the capital expenditure requirements of the Company towards: purchasing and setting up of new machinery for expansion at its Supa Facility and purchasing and setting up of new machinery at Unit 2 in Chakan, Pune in Maharashtra; Rs 10.41 crore for funding the capital expenditure requirements of the Company towards purchasing and setting up of a rooftop solar power plant for power generation at its Supa Facility; and general corporate purposes.
 
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional and retail individual bidders respectively.
 
KSH International part of the KSH group, commenced its operations in 1981 by manufacturing magnet winding wires in Taloja, Raigad, in Maharashtra and in the last four decades, it has diversified its operations to manufacturing various types of standard and specialized magnet winding wires. It markets and sells its products through its brand ‘KSH’, which has a strong brand recall and reputation in the industry over the years.
 
It is also the largest exporter of magnet winding wires from India in terms of export revenues in Fiscal 2024, according to a CARE Report, mentioned in the DRHP. Its key products include round enamelled copper/ aluminium magnet winding wires, paper insulted rectangular copper/ aluminium magnet winding wires, continuously transposed conductors, rectangular enamelled copper/ aluminum magnet winding wires and bunched paper insulated copper magnet winding wires. The products are critical components of capital goods such as transformers, motors, alternators and generators. These products (transformers, motors, alternators and generators) find application in end-use industries such as power (generation, transmission and distribution), renewables, industrials, railways, automotives (EV and ICE), home appliances, refrigeration and air conditioning.
 
The Company has 112 customers as on December 31, 2024 which includes the likes of Bharat Bijlee Limited, Virginia Transformer Corporation, Bharat Heavy Electricals Limited, Georgia Transformer Corporation, Hitachi Energy India Limited, Siemens Energy India Limited, GE Vernova T&D India Limited, Hind Rectifiers Limited, Atlanta Electricals Limited, Toshiba Transmission & Distribution Systems (India) Private Limited, Meidensha Corporation, SGB-SMIT GmbH and Retrasib S.R.L., CG Power and Industrial Solutions Limited, Nidec Industrial Automation India Private Limited, Al Ahleia Switchgear Co. , Emirates Transformer & Switchgear Limited.
KSH International has a significant global footprint, and exports its products to 24 countries as of December 31, 2024, including, USA, UAE, Kuwait, Romania, Saudi Arabia, Germany, Oman, Spain, Bangladesh and Japan, amongst others.
 
As of December 31, 2024, the company operates three manufacturing facilities, out of which two of these facilities are located in Chakan, Pune and one in Taloja, Raigad and an upcoming fourth facility in Supa, Ahilyanagar (formerly Ahmednagar), which is expected to commence operations in Fiscal 2026. According to the CARE report, with its Supa expansion, KSH is expected to more than double its capacity from 29,045 MT as of December 31, 2024, to 59,045 MT over the next two years.
 
Despite a decline in market share between FY22 and FY24, Precision Wires India Ltd and Ram Ratna Wires Ltd continue to lead the magnet winding wires market in terms of revenue. However, KSH International Limited has shown notable progress, increasing its market share from 11.19% to 13.70%, signaling a steady upward trajectory.
 
KSH International Limited’s revenue from operations increased by 31.76% from Rs 1,049.46 crore in Fiscal 2023 to Rs 1,382.82 crore in Fiscal 2024 primarily on account of the increase in volume and metal prices in Fiscal 2024. Its EBITDA has increased from Rs 49.90 crore in Fiscal 2023 to Rs 71.46 crore in Fiscal 2024, while Profit after tax grew from Rs 26.61 crore in Fiscal, 2023 to Rs 37.35 crore in Fiscal, 2024.
 
For the nine months ended December 31, 2024, revenue from operations stood at Rs 1420.45 crore, EBITDA was Rs 87.35 crore and Profit after tax stood at Rs 49.53 crore.
 
Nuvama Wealth Management Limited, and ICICI Securities Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

South India’s largest, 3-days B2B Industrial Machinery & Engineering Exhibition, INDOMACH, begins at HITEX!

Hyderabad, 24 May 2025: Hyderabad is hosting South India’s largest B2B Industrial Machinery & Engineering Exhibition, INDOMACH, from May 23rd to 25th, 2025. Chief Guest Mr. T Kumagai San, Director, Koike Cutting and Welding India Ltd; inaugurated the 4th Edition of the 3-days Exhibition, at HITEX Exhibition Center, today. Guests of Honour Mr Manish Sinha, Director, INDOMACH; Mr Manjunath C. Malledmath, Area Sales Manager, Contitech India Pvt. Ltd.; Mr Sumit Porwal, Director, INDOMACH; Mr Sachin Sharma, Director, INDOMACH; Mr Tushar Shah, Director, D.B. Engineers, Gujarat; Mr T Kumagai San, Director, Koike Cutting and Welding India Ltd; Mr Sudhir Bhole, Director, INDOMACH; Mr Sachin Soman, ASM, Taparia Tools; Mr Sandeep Dharewa, Director, Kan Power; and Mr Anish Agrawal, Director, Raman Trading; graced the occasion.

 B2B Industrial Machinery & Engineering Exhibition, INDOMACH, begins at HITEX!
Chief Guest Mr T Kumagai San (6th from left), Director, Koike Cutting and Welding India Ltd; at the inauguration the 4th Edition of INDOMACH, South India’s largest B2B Industrial Machinery & Engineering Expo, today at HITEX Exhibition Centre, Madhapur. (L-R) Guests of Honour Guest of Honour Mr Manjunath C. Malledmath, Area Sales Manager, Contitech India Pvt. Ltd.; Mr Sumit Porwal, Director, INDOMACH; Mr Manish Sinha, Director, INDOMACH; Mr Sachin Sharma, Director, INDOMACH; Mr Tushar Shah, Director, D.B. Engineers, Gujarat; Mr Sudhir Bhole, Director, INDOMACH; Mr Sachin Soman, ASM, Taparia Tools; & Mr Sandeep Dharewa, Director, Kan Power; graced the occasion.

Speaking on the occasion Mr. T Kumagai San, Said, Since the post-COVID, we’ve maintained our presence at the INDOMACH exhibition — and the results have been phenomenal. Our participation, especially in Hyderabad, has seen tremendous success, drawing an impressive footfall of potential clients from across the region. The engagement, energy, and opportunities at the event continue to reinforce our commitment to connecting with industry leaders and showcasing our innovations.

The exclusive industrial exhibition on Machine Tools, Automation, Robotics, Welding, Electrical and Industrial and Engineering Products, is showcasing Engineering products and services, Heavy and light machines, Machinery equipment and accessories, Tools and part technological devices, products, Engineering Tools and allied Products and Services. The highlight of the exhibition is the unveiling of an extensive range of exciting industrial applications including state-of-the-art technologies, global innovations and modern-day solutions, some of which are being introduced for the first time in India.

As the organizer of this expo told that this is the fourth edition of IndoMach to be held in Hyderabad. The earlier three editions organized in the years 2022, 2023 and 2024, were an unprecedented success, with both the exhibitors and visitors seeking it again. IndoMach is hosted annually in the prominent industrial hubs of India, including Jamshedpur and Nagpur, besides Hyderabad.

This year’s IndoMach exhibition is having over 125 Exhibitors from across India and abroad. The one of its kind congregations of Industrial machinery buyers and sellers, is showcasing over 750 live machinery and has over 900 reputed national and international Brands on display. During the three days of the weekend, the exhibition is likely to have a footfall exceeding 18,000 visitors from pan India, especially from entire South India and parts of Maharashtra, Madhya Pradesh, Chhattisgarh, and Odisha states. The exhibition is likely to transact business worth Rs 400 crores during the three days.

Prominent Indian companies showcasing their products at the expo include Ashwini Integrated Technologies, Taparia Tools Limited, Tranter India, Koike Cutting and Welding, Kains Instruments India Private Limited, Dee Bee Enterprises, Hanspark Industries Private Limited, Triniti Advanced Software Labs Private Limited, Metal ARC, Nippen Electrical, Suvera Fluid Power Private Limited, Ashlok Safe Earthing Electrode Limited, Essell, Mcm Instruments, Dhruvsoft Services Private Limited, Jainson Cables, Flexofit Engisol, Pom Systems & Services, Selec Control, Ratnaparkhi Electronic Industries, Messer Cutting, Panasonic Connect, K Tech CNC, Continental, Ingico, Ideal Power, MVD Fastners, Dimond Compressor, Divine Laser, Greaves Cotton, Asian Equipment, Kan Power Rubber Industries, Relyon Softech Limited, Spoors Technology Solutions, 3D Levin Engineering and many more companies.

Royaloak Furniture Expands Footprint in Karnataka with 59th Store in Mangalore

Mangalore: In a significant expansion move, Royaloak Furniture, India’s leading furniture brand, has launched its new store in Mangalore, marking its 59th outlet in Karnataka. Strategically located in MAK Mall, the store spans 10,000 square feet and offers an extensive range of stylish, smart, and functional furniture for every part of the home.

Royaloak Furniture Expands Footprint in Karnataka with 59th Store in Mangalore

The grand opening ceremony was attended by esteemed guests, including Mr. MD Mohammed Arabi K from MAK Infrarealty Pvt Ltd and Mr. Vijai Subramaniam, Chairman of Royaloak Incorporation Pvt. Ltd. Mr. Subramaniam emphasized the brand’s commitment to serving customers better and its belief in the growing potential of the Mangalore market.

The store features a curated “Country Store” with unique furniture selections from America, Italy, Malaysia, and India. With this expansion, Royaloak has created vast employment opportunities in the state and opened doors for future business growth with multiple vendors and partners.

To celebrate the launch, Royaloak is offering attractive inaugural deals, including free recliners worth Rs 14,990 and other products worth up to Rs 3,000-7,000 on various shopping values.

With over 10 million satisfied customers, Royaloak continues to elevate home aesthetics with modern, luxurious, and affordable furniture. The brand has a pan-India presence, spanning from Kashmir to Kanyakumari and Gujarat to Nagaland.

The new store in Mangalore is set to transform the city’s furniture landscape, offering residents stylish and functional furnishings at affordable prices.

Ola Electric Bike ‘Roadster X’ Launched in Kerala Market

Thiruvananthapuram: Ola, a leading electric two-wheeler manufacturer in India, has launched its new electric bike, ‘Roadster X’, in the Kerala market. The Roadster X was unveiled at the Ola showroom in Pappanamcode, the state capital, with customers Sunil Kumar, Sreejith, and Rahul receiving the keys.
 
 
Having already dominated the electric scooter segment, Ola aims to revolutionize the electric motorcycle category with the introduction of the Roadster series. As part of the launch, the company has announced attractive offers worth ₹10,000 for the first 5,000 customers. These customers will also have the opportunity to get Extended Warranty, MoveOS+, and Essential Care free as part of the ‘Ride the Future’ campaign. Mithun Gopinath, Regional Sales Manager for Ola Roadster X, and Area Sales Managers Shadil Majidi and Jithin attended the event at the showroom.
 
Features:
 
The Roadster X series, equipped with a mid-drive motor, ensures both excellent performance and safety. The powertrain of the Roadster series features a chain drive and an integrated MCU for efficient torque transfer, providing superior acceleration and improved range. A key highlight of the Roadster X series motorcycles is the flat cables, which enhance packaging efficiency, reduce weight, and improve thermal performance.

Nuberg EPC and EDL Anlagenbau (Pörner Group) Join Forces for Green Hydrogen, Petrochemical & Refinery Ventures

New Delhi: India based global EPC company – Nuberg EPC and EDL Anlagenbau Gesellschaft mbH (a Pörner Group Company) from Germany have signed a Technical Collaboration Agreement (TCA) to explore engineering and sustainable development opportunities across industries including Fuel Oil Refineries, Petrochemical Industries, Green Hydrogen derivatives & Sustainable Process Technologies to accelerate technological excellence and environmental responsibility.

Nuberg EPC Announces Partnership with Germany’s EDL Anlagenbau Gesellschaft mbH (a Pörner Group Company) for Petrochemical, Refineries & Green Hydrogen Derivatives

The agreement was signed by Mr. A.K. Tyagi, CMD, Nuberg & Mr. Peter Sonntag, VP – Business Development – International, EDL. This collaboration is not between just two companies but a strategic Indo-German alliance between two nations aiming to deliver impactful outcomes. With Nuberg’s proven expertise in EPC project execution & EDL’s advanced process technologies, this partnership aims to accelerate the development of next-generation solutions.

The signing ceremony was further honoured by the presence of Ms. Shivani Chaturvedi, a distinguished voice in Indo-German industrial cooperation and the Director of the Indo-German Chamber of Commerce, underscoring the broader significance of this partnership for bilateral economic and technological collaboration.

Nuberg EPC Announces Partnership with Germany’s EDL Anlagenbau Gesellschaft mbH (a Pörner Group Company) for Petrochemical, Refineries & Green Hydrogen Derivatives

Key highlights of the partnership –

Transforming bottom of the barrel products for high value outputs

Another key focus of this partnership will be the extraction of valuable products from the bottom of the barrel—transforming waste into high-value products and minimizing environmental impact by advanced technologies including:

  • Solvent Deasphalting (SDA)
  • Solvent Extraction of Lube Cuts to obtain TDAE / TRAE
  • Dewaxing / Deoiling
  • Complex greasing
  • Re-refining of used oil.

Green hydrogen & its derivatives –

The TCA aims to facilitate active engagement between both companies to step up collaborative opportunities on an industrial transformation and contribute to a clean and sustainable future. It will be a shared vision of technological excellence, environmental responsibility, and global impact. Beside green hydrogen, derivatives such as green ammonia, green methanol and sustainable aviation fuels are considered.

Enpowering talent & technology

In addition, this initiative will foster skill development through targeted training programs and unlock new opportunities to introduce the above mentioned sustainable cutting-edge technologies to the Indian market.

Both entities bring complementary skills and added-value to this partnership – Nuberg EPC, an Indian EPC firm with its proven expertise in EPC execution capabilities, and strong presence across emerging markets, and German EPC Company EDL with its advanced know-how in Refinery and Petrochemical process technologies, experience in sustainable process engineering, and deep roots in European industrial innovation.

A.K Tyagi, Founder and CMD of Nuberg EPC commented “We believe in securing reliable collaborations that focus on both efficient and effective measures. We are confident in the potential of our strategic partnership, and in setting new benchmarks with a shared commitment to delivering innovative, efficient, and sustainable engineering solutions. This partnership is going to be a game changer, driving transformative results in the industry.”

Daniel Oryan, EDL’s CEO, added “The signing of the TCA is an important milestone in the history of our companies. We look forward to the first projects that we will implement together based on this strategic alliance. We thank our partner for the trust placed in us.”

Major Developers Seals Strategic Construction Alliance with New System Engineering LLC for Al Marjan Island Project

Ras Al Khaimah, UAE, 23 May 2025– In a strategic move that reflects its commitment to quality, craftsmanship, and future-facing development, Major Developers unveiled the appointment of New System Engineering LLC (NSE) as the main contractor for its upcoming luxury project, Manta Bay on Al Marjan Island in Ras Al Khaimah.

Major Developers Seals Strategic Construction Alliance with New System Engineering LLC for Al Marjan Island Project

This collaboration signifies more than a contractual milestone as it represents a convergence of shared values, industry depth, and a mutual vision to redefine the architectural narrative of Ras Al Khaimah’s burgeoning coastline.

Boasted for structural excellence and meticulous project delivery, NSE, led by Imad Eddin Khalil, General Manager & Partner, has been a cornerstone in the UAE’s engineering landscape for over two decades. Their portfolio spans transformative residential, commercial, and infrastructural projects, each marked by integrity, innovation, and adherence to the highest international standards.

For Major Developers, this partnership is an affirmation of its guiding philosophy: that enduring luxury is born out of trusted collaboration, technical rigour, and a relentless focus on detail. Under the stewardship of Andrei Charapenak, CEO of Major Developers, the brand has carved a distinct position in the UAE’s real estate sector, known for projects that not only command attention but also inspire confidence.

“In today’s fast-evolving market, the true measure of a developer lies not just in what is built, but in how and with whom it is built,” commented Andrei Charapenak. “With New System Engineering, we’ve found a partner whose discipline, reputation, and culture of excellence echo our own. This collaboration marks an important chapter in our journey—one where quality is not a goal but a guarantee.”

Set against the panoramic backdrop of Al Marjan Island, this development promises to be a benchmark in design, livability, and construction finesse. From master planning to execution, every facet will reflect the hallmarks of precision, aesthetic harmony, and enduring value.

The signing also signals the start of an exciting new phase for Major Developers, as it continues to solidify its presence in the Northern Emirates of the UAE.

A new project in RAK Central is already on the horizon, poised to further Major Developers’ vision of creating urban experiences that are both aspirational and sustainable.

As the landscape of Ras Al Khaimah evolves, Major Developers remains at the forefront of crafting legacies, one landmark at a time.

Interio Accelerates B2B Growth in Bengaluru as City Leads India’s Office Space Boom

Bangalore, May 23, 2025: Interio, one of India’s leading furniture brands under the Godrej Enterprises Group, is strengthening its institutional, healthcare, and education furniture footprint in Bengaluru to meet the city‘s explosive commercial real estate growthBengaluru‘s office market led all Indian cities in Q1 2025 with 4.9 million sq ft in gross leasing volumes, showing 259% YoY growthInterio plans to capture this opportunity as workspace demands evolve in India’s tech hub.

Speaking on the importance of the southern market, Sameer Joshi, Senior Vice President and Head of B2B Business, Interio, said, “Bengaluru is a leader in India’s commercial real estate sector, accounting for 45% of total office transactions nationwide with growth 42% higher than 2023. The city‘s high concentration of Global Capability Centers, which drove 48% of Bengaluru‘s leasing volumes in Q1 2025, creates opportunities for Interio. The southern region continues to be a key focus area for us, driven by its rapid urbanization and evolving furniture requirements across offices, education and healthcare sectors. This shift in workplace dynamics has helped us build a strong presence, currently holding 15% of the institutional furniture market in the region. Driven by our commitment to creating solutions that put people first, we aim to grow our market share to 20% in Karnataka and Bengaluru over the next three years, outpacing the overall market growth of 7-8%.”

Interio‘s product portfolio in the region has seen strong traction, particularly in ergonomic chairs, wellness products, soft seating solutions and digital lockers. For the growing coworking sector, Interio has launched its Social Office 2.0 collection, creating flexible spaces that combine productivity with comfort, helping employees “feel at home even when they work”. With Bengaluru now hosting over 34% of India’s GCCs and 120 new mid-market GCCs expected by 2026, Interio is addressing these evolving workspace demands through specialized ergonomic solutions. The company has recently introduced Motion Mesh and Posture Perfect chairs designed specifically to support the wellness needs of GCC employees who often work across global time zones.

The education sector presents another growth area, with Bengaluru seeing investments in international schools and university upgrades. Interio is addressing this market with products for smart classrooms and modern learning spaces. As sustainability becomes important in corporate real estate decisions—with 81% of leasing nationally occurring in green-certified buildings in Q1 202, Interio is adapting its manufacturing and product design to meet environmental standards, strengthening its position in Karnataka’s institutional furniture market.

The company has established a strong network in the region with an experience center in Indiranagar, a branch office on Crescent Road and a warehouse in Nelamangala. Interio works with 45 dealers across Karnataka, including 8 in Bengaluru city.

Alembic Pharma Secures USFDA Final Nod for Amlodipine and Atorvastatin Tablets

Mumbai, 23rd May, 2025:  Alembic Pharmaceuticals Limited (Alembic) today announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Amlodipine and Atorvastatin Tablets USP, 2.5 mg/10 mg, 2.5 mg/20 mg, 2.5 mg/40 mg, 5 mg/10 mg, 5 mg/20 mg, 5 mg/40 mg, 5 mg/80 mg, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Caduet Tablets, 2.5 mg/10 mg, 2.5 mg/20 mg, 2.5 mg/40 mg, 5 mg/10 mg, 5 mg/20 mg, 5 mg/40 mg, 5 mg/80 mg, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, of Pharmacia and Upjohn Co. LLC.

Amlodipine and Atorvastatin tablets are indicated in patients for whom treatment with both amlodipine and atorvastatin is appropriate. Refer label for a detailed indication.

Alembic has a cumulative total of 223 ANDA approvals (199 final approvals and 24 tentative approvals) from USFDA.

Savor Family Moments at Peshawri, ITC Sonar Where Togetherness Meets Taste

Gather Around the Table at Peshawri – A Culinary Celebration of Family at ITC Sonar

This May, partake in an exceptional gourmet journey at Peshawri, the signature restaurant of ITC Sonar, renowned for presenting the robust flavors of the North West Frontier. With its enduring charm, rustic elegance, and authentic culinary offerings, Peshawri extends an invitation to indulge in an exclusive Family Fare—a thoughtfully curated lunch set menu designed by our skilled chefs to take your palate on an extraordinary culinary expedition, complemented by refreshing soft beverages. Highlights of the menu include the signature Dal Bukhara and expertly grilled Tandoori Phool, each dish serving as a tribute to tradition and craftsmanship.

The vegetarian set menu features an array of delicacies such as Paneer Tikka, Paneer Khurchan, and the richly flavored Tandoori Aloo, ensuring that each bite is a celebration. For non-vegetarians, the selection includes creamy Murgh Malai Kabab, tender Seekh Kabab, succulent Machli Tikka, and Murgh Khurchan, all served with a variety of breads of your choice. Enhance your dining experience with refreshing Mixed Raita and desserts like Gulab Jamun or Kulfi. These carefully selected set menus, paired with soft beverages, are available for lunch from 12:30 to 2:45 PM. An additional charge of INR 1500 plus taxes applies for each guest beyond four, accommodating groups of up to eight, valid until 31st May 2025. Whether you seek to pause, immerse, and reconnect over a shared meal to create new memories, the Family Fare at Peshawri guarantees a unique experience—where every bite embodies the essence of tradition, complemented by warm hospitality.