K. V. Toys India Limited Launches IPO to Support Expansion and Working Capital Needs

K. V. Toys India Limited, engaged in the contract manufacturing and sale of plastic-moulded and metal-based toys for children across both educational and recreational categories, has announced the launch of its Initial Public Offering (IPO) comprising a Fresh Issue of up to 16,80,000 equity shares of face value Rs 10 each. The Offer will open for Anchor Investors on December 05, 2025, and for the public on December 08, 2025, closing on December 10, 2025. The equity shares are proposed to be listed on the BSE SME Platform, with a tentative listing date of December 15, 2025. 

Issue Structure and Details 

Issue Type: Book Built Issue 
Total Fresh Issue Size: Up to 16,80,000 Equity Shares aggregating to Rs 40.15 crore at the upper price band. 

Price Band: Rs 227 – Rs 239 per equity share 

Lot Size: 1200 equity shares and in multiples of 600 thereafter 
Book Running Lead Manager: GYR Capital Advisors Private Limited 
Registrar to the Offer: Purva Sharegistry (India) Pvt. Ltd. 
Market Maker: Giriraj Stock Broking Private Limited 

IPO Allotment & Investor Reservation 

Anchor Portion – Up to 4,68,000 Equity Shares  

Net Qualified Institutional Buyers (QIB) – Up to 3,12,600 Equity Shares 

Non-Institutional Investors (NII) – Not less than 2,39,400 Equity Shares 

Individual Investors – Not less than 5,59,200 Equity Shares 

Market Maker – Up to 1,00,800 Equity Shares 

The basis of allotment is expected to be finalised on December 11, 2025, and the shares are expected to be credited to investors' demat accounts shortly thereafter. 

Utilisation of Net Proceeds 

The Net Proceeds from the Issue are proposed to be used for the following objects: 

1. Funding working capital requirements – Up to Rs 2,091.80 lakh 

2. Repayment/prepayment of all or certain of our borrowings – Up to Rs 1,169.82lakh 

Business Overview 

K. V. Toys India Limited, incorporated in 2023 and earlier operating as KV Impex (established in 2009), is engaged in the contract manufacturing and sale of plastic-moulded and metal-based toys for children across educational and recreational segments. The Company has evolved into a domestic, brand-owning manufacturer aligned with the Government of India’s Make in India initiative, focusing on expanding indigenous toy manufacturing and reducing Reliance on imports. 

With an emphasis on quality, safety, and product innovation, the Company today offers a diverse portfolio of more than 700 active SKUs across five proprietary brands, including Alia & Olivia (doll range), Yes Motors (die-cast vehicles), Funny Bubbles (bubble toys), and Thunder Strike (soft bullet guns). Production is carried out through 11 OEM partners located across India, supported by an in-house facility at Kalher, Bhiwandi, Maharashtra, which consists of eight units covering approximately 100,000 square feet.

K. V. Toys has built a strong pan-India presence through general trade, modern retail, and e-commerce channels, and has recently taken its first step into international markets with exports to Germany. All products are BIS-certified, reinforcing the Company’s focus on safety, reliability, and customer trust. 

Key Business Highlights 

Make in India–Aligned Manufacturing Platform: 

The Company has scaled into a domestic, brand-owning toy manufacturer aligned with the Government of India’s Make in India initiative. 

Diversified Multi-Category Portfolio: 

Offers more than 700 active SKUs across educational and recreational toys, spanning plastic-moulded and metal-based categories. 

Proprietary Brand Ecosystem: 

Operates five in-house brands, including Alia & Olivia (dolls), Yes Motors (die-cast vehicles), Funny Bubbles (bubble toys), and Thunder Strike (soft bullet guns). 

11 OEM Partners Across India: 

Manufacturing is executed through a network of 11 contract manufacturing partners, providing scalability, agility, and reduced production risk. 

Integrated Production & Distribution Hub: 

Operates an in-house facility at Kalher, Bhiwandi, Maharashtra, comprising eight units spread across approximately 100,000 square feet, supporting assembly, packaging, warehousing, and nationwide distribution. 

Pan-India Market Reach: 

Strong multi-channel presence across general trade, modern retail formats, and leading e-commerce marketplaces. 

International Expansion: 

Recently commenced exports to Germany, marking the beginning of its international presence. 

BIS-Certified Product Line: 

Every product in the portfolio is BIS-certified, ensuring safety, quality, and regulatory compliance. 

Asset-Light Operating Model: 

Contract manufacturing combined with centralised assembly supports cost efficiency and rapid scaling of new SKUs. 

Experienced Leadership Team: 

The Company is led by its Promoters, Mr Karan Narang, Mr Vishal Narang, Ms Namita Narang, Mr Ayush Jain, and Mr Kunal Shah, who bring extensive experience across OEM coordination, product development, sourcing, and nationwide distribution. 

Strong Financial Performance: 

The KV Group has demonstrated consistent financial growth. Revenue from operations increased from Rs 7,395.12 lakh in FY23 to Rs 8,162.82 lakh in FY24, and further to Rs 12,600.99 lakh in FY25. For the six months ended September 30, 2025, the Group reported revenue of Rs 8,080.30 lakh. EBITDA rose from Rs 394.89 lakh in FY23 to Rs 517.78 lakh in FY24, reaching Rs 867.99 lakh in FY25 and Rs 609.64 lakh for the period ended September 30, 2025. PAT improved from Rs 201.06 lakh in FY23 to Rs 308.43 lakh in FY24, stood at Rs 564.38 lakh in FY25, and amounted to Rs 405.50 lakh for the six months ended September 30, 2025. This reflects the KV Group’s sustained growth and strengthening profitability. 

Disclaimer: The article is for informational purposes only and not investment advice.