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The Economic Times

Business

Ritesh Presswala

Kusumgar's Rs 650-crore IPO opens tomorrow; GMP signals nearly 40% listing gain

Kusumgar, one of India's leading manufacturers of engineered synthetic fabrics, is set to launch its Rs 650-crore Initial Public Offering (IPO) on July 8, with investor interest running high ahead of the subscription window.

The IPO is already attracting strong buzz in the grey market, where it is commanding a Grey Market Premium (GMP) of around Rs 166 per share. This suggests a potential listing gain of nearly 40% over the upper end of the price band. Based on the current GMP, the stock is expected to debut at around Rs 585 per share, indicating robust pre-listing demand.

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