The Rs 40.15 crore IPO of KV Toys India was entirely a fresh issue and drew extraordinary investor interest during the three-day bidding window. The issue was subscribed more than 350 times overall, placing it among the most heavily subscribed SME IPOs of the year.
Demand was especially intense in the non-institutional investor category, which was subscribed over 500 times, while retail investors bid nearly 376 times their allotted portion. Qualified institutional buyers also showed strong interest, subscribing their quota over 190 times. The scale of oversubscription reflects aggressive participation from short-term investors chasing listing gains in a buoyant SME IPO environment.
Ahead of the public issue, the company had already raised Rs 11.19 crore from anchor investors, providing early validation for the offering.
KV Toys India operates in the contract manufacturing and sale of plastic-moulded and metal-based toys across educational and recreational segments. The company’s portfolio spans a wide range of products including friction-powered toys, soft bullet guns, ABS toys, die-cast vehicles, bubble toys and dolls.
It also owns several in-house brands such as Alia & Olivia, Yes Motors, Funny Bubbles and Thunder Strike, catering to different age groups and price points in the children’s toy market.
The company follows an asset-light manufacturing model, relying on exclusive partnerships with 11 OEM facilities located across India. This approach allows it to scale production without heavy capital expenditure while maintaining control over design, packaging and quality standards. Management believes this structure provides flexibility and cost advantages in a highly competitive and fragmented industry.Financially, KV Toys has shown a sharp turnaround over the past two years. Revenue stood at Rs 85.6 crore in FY25, while profit after tax rose to Rs 4.59 crore, compared with losses in earlier periods. For the six months ended September 2025, the company reported revenue of Rs 80.9 crore and PAT of Rs 4.06 crore.
KV Toys India enters the market amid intense optimism, with all eyes on whether the listing lives up to the lofty expectations built ahead of debut.
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