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The Economic Times

Business

Ritesh Presswala

Kusumgar IPO Day 1: Issue gets fully subscribed on strong demand from NIIs; GMP at 40%

Kusumgar, one of India's leading engineered synthetic fabric manufacturers, launched its Rs 650 crore initial public offering (IPO) on July 8, drawing strong investor interest. The issue was fully subscribed within hours of opening, led by robust demand from non-institutional investors. The retail portion of the IPO also witnessed a strong response.

The company received bids for 1.46 crore shares as of 12:08 PM against 1.14 crore shares on offer, resulting in an oversubscription of 1.27 times.

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Top stories on inkl right now

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Police appear to have been taken by surprise by scale of looting that began after protests turned violent in Paris and other cities

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One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Winter Hospital Peaks From COVID-19, Flu and RSV Expected Near Last Season's Level as Early Flu Activity Climbs

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