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The Economic Times

Business

Ritesh Presswala

Kusumgar IPO Day 2: GMP at 38%, Rs 650-crore issue sees strong investor interest

Kusumgar GMP IPO NSE

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.

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