The Rs 650 crore initial public offering (IPO) of Kusumgar was fully subscribed on the first day of the bidding on Wednesday. The Mumbai-based company is a specialist in the engineered fabric industry.
Ahead of its listing, the grey market premium (GMP) indicated a premium of almost 40% listing pop for the issue.
Here's all you need to know about the Kusumgar IPO.
Kusumgar IPO GMP Today
According to InvestorGain, the GMP for the Kusumgar IPO stood at Rs 160 on July 9. It indicates a listing price of Rs 579 apiece at a premium of 38.19% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
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Kusumgar IPO: Price Band, Offer Size, Subscription Status, Lot Size
The Kusumgar IPO is a book-build issue of Rs 650 crore. It comprises an offer-for-sale (OFS) of 1.55 crore shares. The price band for the IPO is set between Rs 398 and Rs 419 per share.
To participate in the IPO, retail investors must bid for a single lot of 35 shares, which requires an investment of Rs 14,665. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,05,310. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 69 lots. It will lead to an investment of Rs 10,11,885.
Axis Capital Ltd. is the book-running lead manager and Bigshare Services Ltd. is the registrar of the issue.
Subscription Status: The IPO was subscribed 3.45 times on Day 1, with investors bidding for 3,95,95,045 shares against the 1,14,68,094 shares on offer.
Kusumgar IPO: Important Dates
The subscription window for the mainboard IPO will conclude on July 10, with the allotment expected to be finalised on July 13. The company will transfer shares to the demat accounts of successful bidders on July 14 and refunds for non-allottees will be made on the same day.
The shares of the company are scheduled to list on the BSE and NSE on July 15.
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Use Of Proceeds
No fresh capital will be infused into the business as the issue is being conducted entirely through an Offer for Sale. It expects the listing to raise its public profile while allowing current shareholders to unlock value through improved liquidity.
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About Kusumgar
Kusumgar is engaged in the manufacture of engineered fabrics comprising woven, coated and laminated synthetic materials. Leveraging expertise in polyamide and polyester filaments as well as polyurethane chemistry, the company develops solutions tailored to customers with special performance needs.
Financials
The company reported a 12.31% year-on-year (YoY) decline in profit for the year to Rs 98.2 crore in FY26 from Rs 111.99 crore in FY25. Revenue from operations fell 11.17% YoY to Rs 692 crore in FY26 from Rs 778.99 crore in FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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