Kusumgar's Rs 650-crore IPO entered its second day on a strong note, with robust investor interest and an upbeat grey market premium (GMP). The current GMP stands at Rs 160, or nearly 38% over the upper price band of Rs 419, indicating an estimated listing price of around Rs 579.
The IPO received a solid response on Day 1, with the issue subscribed 3.45 times against the 1.14 crore shares on offer. The retail investor portion was subscribed 3.52 times, while the Non-Institutional Investors (NIIs) category saw a strong 7.35-times subscription.
The public issue will remain open for subscription until July 10, 2026. The company has fixed the price band at Rs 398-419 per equity share.
The IPO is entirely an Offer for Sale (OFS) aggregating Rs 650 crore, which means the company will not receive any proceeds as no fresh equity shares are being issued.
Investors can bid for a minimum of 35 equity shares and in multiples of 35 thereafter. As of the offer date, Kusumgar had 104.99 million outstanding equity shares with a face value of Re 1 each.
The Kusumgar IPO share allotment is likely to be finalised on July 13, 2026. The company's shares are scheduled to make their stock market debut on both the NSE and BSE on July 15, 2026, subject to the completion of the allotment process.
Kusumgar IPO GMP today
Kusumgar IPO is commanding a grey market premium (GMP) of Rs 160, which is the unofficial price at which its shares are trading in the unlisted market ahead of their stock market debut. The GMP is nearly 38% above the upper price band of Rs 419, indicating an estimated listing price of around Rs 579. However, investors should note that GMP is an unofficial indicator based on market sentiment and does not guarantee the actual listing performance.
Kusumgar IPO subscription status
The Kusumgar IPO received a strong response from investors on Day 1, with the issue subscribed 3.45 times against the 1.14 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 3.52 times against the 56.85 lakh shares reserved for the segment.
Non-Institutional Investors (NIIs): Subscribed 7.35 times against the 24.36 lakh shares on offer.
Qualified Institutional Buyers (QIBs): Booked 47% of the 32.48 lakh shares reserved for the category.
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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