The initial public offering of engineered fabric manufacturer Kusumgar Ltd has received a good response from investors on the first day of bidding on Thursday and got fully subscribed soon after it opened for subscription. The issue ended the day with 3.45 times subscription. Following this, the grey market premium (GMP) of the IPO stood at 38 per cent. According to data available on the National Stock Exchange (NSE), the Rs 650-crore IPO received bids for 3,95,95,045 shares against 1,14,68,094 shares on offer. The non-institutional investor category was booked 7.35 times, while the retail quota was subscribed to 3.52 times. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 47 per cent.
Kusumgar IPO price band
The public issue has a price band of Rs 398 to Rs 419 per share. The IPO is entirely an offer-for-sale (OFS).
Since the issue is an OFS, the Mumbai-based firm will not receive any proceeds, and the funds will go entirely to the selling shareholders.
Kusumgar raises 193.9 crore from anchor investors
Ahead of the IPO, Kusumgar Ltd garnered Rs 193.9 crore from anchor investors. The three-day subscription window will conclude on July 10.
Kusumgar IPO GMP Today
According to Investorgain, Kusumgar’s unlisted shares are trading at a grey market premium (GMP) of Rs 160. Considering the upper price band of Rs 419, the company’s shares are expected to list at around Rs 579, reflecting a grey market premium of 38.19 per cent.
What does the company do?
Founded in 1990, Kusumgar Ltd manufactures woven, coated and laminated synthetic fabrics, known as engineered fabrics. The company primarily produces aerospace and defence fabrics, industrial and automotive fabrics, and outdoor and lifestyle fabrics.
The company has six manufacturing facilities in Gujarat and one fabrication unit in Uttar Pradesh. On the financial front, Kusumgar posted revenue from operations of Rs 692 crore in FY26 and a net profit of Rs 98.
Book-running lead managers
Axis Capital, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers to the IPO.
The company’s shares will list on both the NSE and the BSE, with the expected listing date of July 15, 2026.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
