Kusumgar Limited IPO oversubscribed nearly 136 times as institutions lead
Business
Kusumgar Limited's IPO just closed and it was a hit: oversubscribed nearly 136 times.
Investors rushed in, with big institutions leading the way, followed by noninstitutional and retail investors.
Clearly, everyone wanted a piece of this one.
Kusumgar OFS raises no company funds
This ₹650 crore IPO was an offer for sale by existing shareholders, so Kusumgar itself won't get new funds: the goal is more about boosting brand visibility and giving current investors an exit.
Shares will list on BSE and NSE this Wednesday, July 15.
The gray market premium hints at a strong debut price of around ₹582 per share, almost 39% above the issue price, a solid start if you're tracking new listings.