K. V. Toys India IPO carries a face value of ₹10 per share and offers a total book-built issue of ₹40.15 crore. The IPO bidding starts from December 8, 2025. It ends on December 10, 2025. The allotment is scheduled on December 11, 2025. The listing is expected on December 15, 2025.
The IPO price band has been set between ₹227 and ₹239 per share, with an application lot size of 600 shares. For retail investors, the application is at least 2 lots, which means their bid amounts to ₹2,86,800. For sNII applicants, the minimum lot size is 3, which means they will have to invest ₹4,30,200, while bNIIs must apply for 7 lots with ₹10,03,800.
K. V. Toys India IPO Details
Below are the important specifics regarding this IPO:
| Particulars | Details |
| Bidding Opens | December 8, 2025 |
| Bidding Closes | December 10, 2025 |
| IPO Lot Size | 600 Shares |
| Face value | ₹10 per share |
| Price Band | ₹227 to ₹239 per share |
| Issue price | – |
| Offer for sale | – |
| Fresh issue | 16,80,000 shares (₹40.15 Crore) |
| Issue Type | Book-built |
| Listing at | BSE SME |
| Total Issue Size | 16,80,000 shares (₹40.15 Crore) |
| Minimum Investment | ₹2,86,800 |
K. V. Toys India IPO Key Dates
The key dates of this IPO are as follows:
| Particulars | Details |
| Bidding Opens | December 8, 2025 |
| Bidding Closes | December 10, 2025 |
| UPI mandate cut-off time | 5 pm on December 10, 2025 |
| Allotment Expected | December 11, 2025 |
| Refund Process Starts | December 12, 2025 |
| Demat Credit of Shares | December 12, 2025 |
| Expected Date of Listing | December 15, 2025 |
K. V. Toys India Key Performance Indicator
Here are the key performance indicators (KPIs) for K. V. Toys India:
| KPIs | FY 2024 | For the period ended 31-01- 2025 | From 01-02-2025 to 31-03-2025 |
| ROE (%) | 3098.55 | 84.54 | 15.51 |
| ROCE (%) | (1.56) | 15.89 | 5.69 |
| Debt Equity (times) | (1,328.42) | 2.59 | 2.63 |
| RoNW (%) | 1549.28 | 42.23% | 14.40% |
| PAT Margin (%) | – | – | – |
| EBITDA margin (%) | – | 7.07 | 8.42 |
| Price Book Value | – | – | – |
K. V. Toys India IPO Financials
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Revenue | – | – | 8560.07 |
| Total Asset | – | 917.46 | 4,853.45 |
| Profit | – | (10.69) | 459.26 |
K. V. Toys India IPO Subscription Status
The K. V. Toys India IPO shares subscription is as follows:
| Day | NII | Individual Investor | Total |
| Day 1 | 0.71 | 2.45 | 1.38 |
| Day 2 | 22.57 | 22.16 | 16.40 |
| Day 3 | 193.25 | 376.41 | 352.63 |
K. V. Toys India IPO Grey Market Premium Today
K. V. Toys India IPO GMP stands at ₹54, indicating optimistic investor demand. The premium has jumped from ₹27 to ₹54 in the last two days, signalling strengthening market sentiment ahead of the listing.
| Date | GMP | Estimated Listing Price | Estimated Listing Gain | Trend |
| 05-12-2025 | ₹54 | ₹293 | 22.59% | Neutral |
| 04-12-2025 | ₹54 | ₹293 | 22.59% | Increasing |
| 03-12-2025 | ₹27 | ₹266 | 11.30% | – |
Note: The GMP data is sourced from unofficial grey markets and is highly dynamic, often shifting with investor demand, subscription trends, and broader market conditions.
K. V. Toys India IPO Reservation
For different investor categories, the IPO reservation is as follows:
| Investor Category | Reservation |
| Market Maker Shares | 1,00,800 (6.00%) |
| QIB Shares | 7,80,600 (46.46%) |
| NII (HNI) Shares | 2,39,400 (14.25%) |
| Retail Shares | 5,59,200 (33.29%) |
| Total Shares | 16,80,000 (100.00%) |
K. V. Toys India IPO Lot Size
The available lot sizes for applying in this IPO are listed below:
| Application | No. of Lots | No. of Shares | Amount |
| Individual investors (Retail) (Minimum) | 2 | 1,200 | ₹2,86,800 |
| Individual investors (Retail) (Maximum) | 2 | 1,200 | ₹2,86,800 |
| S-HNI (Minimum) | 3 | 1,800 | ₹4,30,200 |
| S-HNI (Maximum) | 6 | 3,600 | ₹8,60,400 |
| B-HNI (Minimum) | 7 | 4,200 | ₹10,03,800 |
K. V. Toys India IPO Anchor Investors Details
K. V. Toys India IPO raises ₹11.19 crore from anchor investors. The anchor bidding will start from December 5, 2025.
| Particulars | Details |
| Bidding Opens | December 5, 2025 |
| Portion Size | ₹ 11.19 crore |
| Shares Offered | 4,68,000 |
| 50% shares lock-in (30 Days) | January 10, 2026 |
| 90 Day Lock-In for remaining shares | March 11, 2026 |
K. V. Toys India IPO Prospectus
You can go through these files for additional insights on the IPO:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | |
| Final Prospectus | Not Disclosed |
About K. V. Toys India
K. V. Toys India Ltd., incorporated in 2009, is led by Mr. Karan Narang, Chairman & Managing Director. The company engages in contract manufacturing and selling of toys for both learning and playing segments. Its product range includes friction toys, ABS toys, soft bullet guns, pullback toys, die-cast metal vehicles, dolls, bubble toys, and electronic and press-and-go toys. The company also markets its own brands, such as Yes Motors, Funny Bubbles, Alia & Olivia, and Thunder Strike. The company operates in the organised toy manufacturing sector, competing directly with OK Play India Ltd.
K. V. Toys India has strengthened its market presence through localised manufacturing, in-house designing, packaging capabilities, and strict quality compliance. Backed by an integrated supply chain, a wide product portfolio, and competitive pricing, the company is well-positioned to serve rising demand for safe, diverse, and affordable toys in India.
| Lead Manager | GYR Capital Advisors Pvt.Ltd. |
| Registrar of the issue | Purva Sharegistry Pvt.Ltd. |
Objectives of the K. V. Toys India IPO
The company intends to use the issue proceeds for the given purposes:
| S.No. | Objectives | Amount (in ₹ crores) |
| 1 | Working capital requirements | 20.92 |
| 2 | Repayment/prepayment of borrowings | 11.70 |
| 3 | General business needs | – |
Strength Of K. V. Toys India
The following core strengths are the reason behind the company’s growth:
1. Diverse Product Range
K.V. Toys India has a wide portfolio of toys across different categories and age groups, supported by recognised in-house brands like Alia & Olivia, Yes Motors, Thunder Strike and Funny Bubbles.
2. Local OEM Manufacturing
The company runs on an asset-light model with exclusive Original Equipment Manufacturer (OEM) partnerships and Bureau of Indian Standards (BIS) compliant quality standards. It reduces import dependence and improves cost efficiency.
3. Strong Design & Supply Capabilities
In-house design, packaging, centralised quality checks and an integrated warehouse enable faster product development, consistency and operational efficiency.
4. Expansive Distribution Network
A strong presence across general trade, modern retail and e-commerce provides wide national coverage and supports consistent product availability and demand.
Risk of K. V. Toys India
The company operates in a dynamic industry and faces the risks given below.
1. Contract-Only Manufacturing Model
Full reliance on exclusive OEM partners limits production control, creates capacity uncertainties and exposes operations to partner-related disruptions.
2. Rapidly Changing Consumer Trends
Shifting preferences and competitive pricing may reduce demand and shrink margins if the company fails to quickly adapt their product offerings.
3. Negative Cash Flows
Historical negative cash flows highlight possible liquidity risks and may affect the company’s capacity to manage operations and support planned growth.
4. Dependence on Key Product Categories
The earnings are concentrated in specific toy types, which increases the risk if demand weakens or competitors introduce better alternatives.
K. V. Toys India IPO Review
K. V. Toys India’s IPO offers investors exposure to a growing domestic toy manufacturer with an asset-light OEM model. The company’s strong in-house design capabilities, broad product range, and wide distribution range are the reasons behind its market presence and growth. The rising GMP also supports this issue, reflecting early positive sentiment. However, reliance on contract manufacturers, revenue concentration, and past negative cash flows remain key risks. Overall, the IPO may appeal to investors seeking sectoral growth, but they should proceed with moderate caution.
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K. V. Toys India IPO FAQs
It is an SME IPO of 16,80,000 shares, priced between ₹227–₹239, to be listed on BSE SME.
You can apply through your broker or UPI-enabled platforms like Zerodha, Groww, Angel One or via the ASBA facility in your bank.
It offers a strong brand portfolio and local OEM manufacturing, but carries risks like OEM dependence and volatile cash flows. Take caution before applying.
As per the current GMP of ₹54, the expected return on K. V. Toys India IPO is around 22.59%.
The IPO opens on December 8, 2025 and closes on December 10, 2025.
The minimum lot size is 600 shares, requiring an investment of ₹2,86,800.
The K. V. Toys India IPO allotment is expected on December 11, 2025.
The shares are expected to list on December 15, 2025, on BSE SME.
