Summary of this article
Kusumgar IPO opens with a Rs 398 to Rs 419 price band.
Investors booked the 15.5 million share issue 3.31 times.
Shares command strong GMP hinting at 37 percent listing gains.
Technical textile manufacturer Kusumgar’s public issue opened for subscription on July 8. The company’s initial public offering (IPO) is slated to close for subscription two days later on July 10. Here are the key details applicants should know before applying for the Kusumgar IPO:
Kusumgar IPO Subscription
The public issue of Kusumgar opened today, offering approximately 15.5 million shares. Out of this, the company has set aside 35 per cent of the net issue for Retail Individual Investors (RIIs), 15 per cent for Non-Institutional Investors (NIIs), and 50 per cent for Qualified Institutional Buyers (QIBs).
Kusumgar IPO was booked 3.31 times across categories on the first day of subscription as investors applied for 37.93 million shares compared to the 11.46 million shares offered for subscription. Employees of the fabric maker booked the issue 1.66 times, placing bids for 1.68 million shares compared to 97,491 shares set aside for the category.
The issue was booked 3.39 times in the retail category, receiving bids for 19.26 million shares compared to the 5.68 million shares set aside for the category.
Non-Institutional Investors booked the issue 6.97 times as investors applied for 16.97 million shares compared to the 2.43 million shares set aside for the category. Qualified institutional buyers (QIBs) applied for 1.52 million shares compared to the 3.24 million shares set aside for the category, booking their quota 47 per cent.
Kusumgar IPO GMP
Kusumgar’s unlisted shares are currently commanding a strong Grey Market Premium (GMP) of around Rs 156 per share, according to multiple platforms tracking the demand for unlisted shares. Based on the upper price band of Rs 419 and a GMP of Rs 168, shares of Kusumgar are likely to make a market debut at Rs 575 apiece, indicating estimated listing gains of around 37.23 per cent.
Kusumgar IPO Offer Size, Listing Date, Price Band
The Kusumgar IPO issue size aggregates to Rs 650 crore. Kusumgar's issue is completely structured as an Offer for Sale (OFS) of up to 15.5 million equity shares, with no fresh issue component.
The price band for the IPO has been fixed at Rs 398 to Rs 419 per share. Retail Individual Investors (RIIs) can apply for the public issue by placing bids for a minimum of 35 shares (1 lot), which aggregates to an investment of Rs 14,665 at the upper price band.
The company is expected to finalise the share allotment status on July 13. Successful applicants will receive shares in their demat accounts on July 14. Shares of Kusumgar will be listed on both the BSE and NSE, with a tentative listing date of July 15.
Kusumgar: Key Financials
Kusumgar’s total income for the fiscal year ended March 31, 2026, stood at Rs 711.78 crore, decreasing by nearly 10 per cent compared to Rs 790.21 crore. The company’s profit-after-tax declined by over 12 per cent to Rs 98.2 crore in FY26 compared to Rs 111.99 crore in FY25. However, the net worth of the company increased by 95 per cent to Rs 502.95 crore compared to Rs 257.75 crore.
Kusumgar: Promoters
Prior to the issue, promoters of the company, Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar and Siddharth Yogesh Kusumgar (HUF) held a 90.48 per cent stake in the company. The stake of the promoters will reduce to 74.71 per cent post the issue.
Kusumgar IPO: Objective
As the Kusumgar IPO is a complete Offer for Sale (OFS), the entire proceeds will go directly to the selling shareholders. Kusumgar will not receive any proceeds of the public offer.
About Kusumgar Limited
Kusumgar is a maker of engineered technical textiles and solutions. The company’s products are used across sectors such as aerospace, defence fabrics, industrial and automotive fabrics, and outdoor and lifestyle fabrics. Kusumgar also manufactures finished aerospace and defence solutions, such as parachute systems, stealth materials, and rapid deployment systems.
