Kusumgar opens offer for sale IPO July 8-10 raising ₹650cr
Business
Kusumgar, known for its engineered synthetic fabrics, is opening its IPO for subscription from July 8-10.
The company plans to raise ₹650 crore with shares priced between ₹398 and ₹419 each.
It's an offer for sale, so existing shareholders are cashing out rather than the company issuing new shares.
Gray market shows ₹166 premium
The gray market is showing strong interest: shares are trading at a ₹166 premium, hinting at possible 40% gains on listing day (around ₹585 per share).
Employees get a little extra love too, with a special discount of ₹39 per share and a reserved quota worth ₹3.5 crore.
Kusumgar has seen steady growth lately, and after the IPO it'll be listed on both BSE and NSE.