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The Economic Times

Business

Ritesh Presswala

Kusumgar shares list at up to 37% premium over IPO price on BSE, NSE

Shares of Kusumgar made a blockbuster debut on the bourses on Wednesday, listing at a premium of up to 37% over their IPO price. The stock opened at Rs 574 on the BSE, a 36.99% premium to the issue price of Rs 419, while on the NSE it debuted at Rs 569, up 35.80%.

The strong listing was broadly in line with grey market expectations. Ahead of the debut, Kusumgar shares were commanding a grey market premium (GMP) of around Rs 162, or nearly 39% over the issue price, indicating an estimated listing price of about Rs 581.

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