Kusumgar IPO stays hot with 38% GMP on final day
What's the story
Kusumgar's ₹650 crore initial public offering (IPO) is witnessing a strong response from investors on its third and final day of bidding. The stock is commanding a significant gray market premium (GMP), indicating positive investor sentiment. Non-Institutional Investors (NIIs) have led the subscription, followed by retail and Qualified Institutional Buyers (QIBs). The company specializes in engineered synthetic fabrics for demanding industrial applications.
Subscription breakdown
IPO details
Kusumgar has set the IPO price band at ₹398-419 per equity share. The public issue is a complete Offer for Sale (OFS) worth ₹650 crore, meaning that the proceeds will go to selling shareholders and not the company. Investors can apply for a minimum of 35 equity shares and in multiples of 35 thereafter.
Timeline
Share allotment and listing details
The share allotment for Kusumgar's IPO is likely to be completed on July 13, 2026. The stock is expected to debut on the NSE and BSE on July 15, 2026, subject to the completion of the allotment process. The GMP for Kusumgar's IPO is ₹158, indicating that shares are trading at a significant premium in the unofficial market ahead of listing. Based on the upper price band of ₹419, this suggests an estimated listing price of around ₹577.
Subscription details
Subscription status of Kusumgar's IPO
The IPO has seen strong investor appetite through Day 2, with the overall issue subscribed 13.13 times. Retail Individual Investors (RIIs) have subscribed 9.47 times, while NIIs have subscribed their quota a whopping 36.64 times. QIBs have also shown interest in the offering, subscribing their portion 2.18 times as of now.
Company profile
About the company
Founded in 1990, Kusumgar is a leading manufacturer of woven, coated, and laminated engineered synthetic fabrics for demanding industrial and performance applications. The company has shown strong financial performance over the last two years with revenues from operations rising to ₹692 crore in FY26 from ₹467.9 crore in FY24. Its net profit also grew steadily to ₹98.2 crore in FY26 from ₹84.3 crore in FY24, highlighting improved profitability and operational efficiency.