Kusumgar IPO 2026: Date, Price Band, GMP, Lot Size & Full Review
By Kaushik Brahmakshatriya
Published On 05 July 2026.
Kusumgar IPO
Kusumgar Limited, a Mumbai-based manufacturer of engineered synthetic fabrics, is entering the primary market with its much-discussed public offer. The company has built its reputation over three decades supplying specialised technical textiles to sectors as demanding as aerospace, defence, and automotive. With the issue opening shortly, investor curiosity around pricing, subscription strategy, and long-term prospects has picked up pace. This article breaks down every detail you need before deciding whether to apply.
Company Background
Founded in 1990, Kusumgar Limited manufactures woven, coated, and laminated synthetic fabrics using polyamide and polyester filaments processed with polyurethane technology. These “engineered fabrics” serve niche applications across aerospace and defence, industrial and automotive, and outdoor lifestyle segments. The company has developed more than 1,000 unique fabric configurations, or SKUs, reflecting the depth of its product portfolio. A majority of its revenue comes from domestic customers, with a smaller international contribution rounding out its business mix.
Kusumgar IPO Key Dates
| Event | Date |
| Anchor Investor Bidding | July 7, 2026 |
| IPO Opens | July 8, 2026 |
| IPO Closes | July 10, 2026 |
| Allotment Finalisation | July 13, 2026 |
| Shares Credited to Demat | July 14, 2026 |
| Listing Date (NSE & BSE) | July 15, 2026 |
Issue Structure and Price Details
| Particulars | Details |
| Total Issue Size | ₹650 crore |
| Issue Type | Entirely Offer for Sale (OFS) |
| Price Band | ₹398 to ₹419 per share |
| Face Value | ₹1 per share |
| Lot Size | 35 shares |
| Minimum Retail Investment | ₹14,665 |
| Employee Discount | ₹39 per share |
| Listing Exchanges | NSE and BSE |
Since the entire offer is structured as an Offer for Sale by promoter shareholders, Kusumgar Limited itself will not receive any fresh capital from this listing. Every rupee raised flows directly to the selling shareholders.
Grey Market Premium Trend
As of early July 2026, the Kusumgar IPO grey market premium has hovered in the range of ₹130 to ₹135, suggesting an estimated listing price near ₹549 to ₹554, a premium of roughly 31–33% over the upper price band. It is worth remembering that GMP is an unofficial, sentiment-driven indicator and should never be treated as a guaranteed listing outcome.
Financial Snapshot
Kusumgar’s financial trajectory shows some inconsistency heading into this IPO. Revenue declined by around 10% and profit after tax dropped by approximately 12% comparing the financial year ending March 2026 with the previous year. The company also carries debt exceeding ₹223 crore as of March 2026, a factor that cautious investors may want to weigh carefully. This dip follows a period of stronger growth through FY25, meaning the recent numbers represent a slowdown rather than a long-term declining pattern.
Should You Apply? Strengths and Risks
| Strengths | Risks |
| Three-decade track record in niche fabrics | Revenue and profit declined in FY26 |
| Diversified client base across defence, aerospace, automotive | Debt levels above ₹223 crore |
| Over 1,000 SKUs create high entry barriers | Entire issue is OFS; no funds reach the company |
| Strong grey market premium signals demand | GMP is not a reliable long-term indicator |
Investors with a higher risk appetite and a long-term horizon may find the specialised, high-barrier nature of Kusumgar’s business appealing. However, the recent financial softness and full OFS structure mean this is not a straightforward “safe bet,” and independent research or advisor consultation is strongly recommended before applying.
Frequently Asked Questions
Q1: When does the Kusumgar IPO open and close?
A: The IPO opens on July 8, 2026, and closes on July 10, 2026.
Q2: What is the price band for Kusumgar IPO?
A: The price band is fixed between ₹398 and ₹419 per share.
Q3: What is the minimum investment required?
A: A retail investor needs to apply for a minimum lot of 35 shares, amounting to ₹14,665 at the upper price band.
Q4: When will the Kusumgar IPO list on the stock exchanges?
A: The tentative listing date is July 15, 2026, on both NSE and BSE.
Q5: Is Kusumgar IPO a fresh issue or an Offer for Sale?
A: It is entirely an Offer for Sale of up to ₹650 crore; the company will not receive any proceeds.
Q6: What does Kusumgar Limited manufacture?
A: It manufactures engineered synthetic fabrics for aerospace, defence, automotive, and lifestyle applications.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Please consult a qualified financial advisor and review the RHP before investing.
