Kusumgar IPO gets 129x bids on final day; GMP signals 38% listing gains
Qualified Institutional Buyers (QIBs) led the subscription, bidding 284.10 times their reserved quota. The Non-Institutional Investor (NII) portion was subscribed 165 times, while the retail investor category was booked 26 times.
Market sentiment around the IPO remains upbeat, with the grey market premium (GMP) currently standing at Rs 158. This suggests a potential listing gain of nearly 38% over the upper price band of Rs 419, indicating an estimated listing price of around Rs 577.
Kusumgar had set its IPO price band at Rs 398–419 per equity share. The offering is a complete Offer for Sale (OFS) worth Rs 650 crore, meaning the proceeds will go to existing shareholders, while the company itself will not receive any fresh funds from the issue.
Investors were allowed to bid for a minimum lot size of 35 equity shares, with additional bids placed in multiples of 35 shares. At the time of the IPO, Kusumgar had 104.99 million outstanding equity shares, each carrying a face value of Re 1.
The IPO allotment is expected to be completed on July 13, 2026, and the company’s shares are scheduled to list on both the NSE and BSE on July 15, 2026, subject to the completion of the allotment process.
Kusumgar IPO subscription status
Kusumgar’s IPO continued to attract strong investor interest on the third and final day of bidding, with the issue witnessing an overall subscription of 128.85 times.
- Retail Individual Investors (RIIs): The retail portion was subscribed 26.41 times, against 56.85 lakh shares reserved for the category.
- Non-Institutional Investors (NIIs): The NII segment saw subscriptions reaching 165.44 times for the 24.36 lakh shares allocated.
- Qualified Institutional Buyers (QIBs): The institutional investor portion was subscribed 284.10 times, the highest among all categories, against 32.48 lakh shares reserved for qualified institutional buyers (QIBs).
Kusumgar IPO GMP today
The grey market premium (GMP) for Kusumgar IPO is currently at Rs 158, indicating strong demand for the shares in the unofficial market ahead of the listing. With the IPO’s upper price band fixed at Rs 419, the current GMP points to an estimated listing price of around Rs 577.
However, investors should keep in mind that GMP is an unofficial market indicator based on prevailing sentiment and demand. It does not guarantee the actual listing price or performance of the stock after debut.
About Kusumgar
Established in 1990, Kusumgar is a leading manufacturer of woven, coated, and laminated engineered synthetic fabrics designed for demanding industrial and performance applications. The company specializes in advanced fabric solutions based on polyamide and polyester filaments combined with polyurethane chemistry, enabling products that meet stringent performance standards.
Its engineered fabrics are designed to deliver superior tensile strength, tear resistance, abrasion resistance, comfort, air permeability, and waterproofing, making them suitable for mission-critical and high-performance applications.
Leveraging decades of manufacturing expertise and strong product development capabilities, the company has developed more than 1,000 unique Stock Keeping Units (SKUs) as of March 31, 2026. These products cater to a diverse range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
Kusumgar operates a vertically integrated manufacturing platform, encompassing preparatory processes, weaving, dyeing, printing, finishing, coating, lamination, and fabrication. Its manufacturing footprint includes six facilities in Gujarat and one fabrication unit in Uttar Pradesh, supported by modern infrastructure, advanced technology, and strong research and development capabilities.
Strong Financial Growth
Kusumgar has demonstrated robust financial performance over the past two years. The company’s revenue from operations increased to Rs 692 crore in FY26, compared with Rs 467.9 crore in FY24, reflecting healthy business expansion across its key segments.
Its net profit also witnessed steady growth, rising to Rs 98.2 crore in FY26 from Rs 84.3 crore in FY24, highlighting improved profitability and operational efficiency.
Issue Management and Listing
The IPO is being managed by Axis Capital Limited, IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited, who are acting as the Book Running Lead Managers. Bigshare Services Private Limited is the registrar to the issue.
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