Kusumgar IPO Details 2026: Price Band, GMP, Subscription Status, Listing Date and Full Review
By Kaushik Brahmakshatriya
Published On 12 July 2026.
Kusumgar IPO
Kusumgar Limited, a Mumbai-based manufacturer of engineered synthetic fabrics, opened its ₹650 crore mainboard IPO for public subscription on July 8, 2026. The issue closed on July 10, 2026, drawing strong demand across investor categories and healthy grey market activity ahead of its expected listing on July 15, 2026.Founded in 1990, Kusumgar specializes in woven, coated and laminated technical fabrics built around polyamide and polyester filaments using polyurethane chemistry. The company has developed over 1,000 unique fabric variants serving aerospace and defence, automotive, industrial, and outdoor lifestyle segments, including parachute systems, camouflage nets, and rapid deployment shelters for military applications.
IPO Key Details
| Particulars | Details |
| Issue Size | ₹650 Crore (entirely OFS) |
| Price Band | ₹398 to ₹419 per share |
| Lot Size | 35 shares |
| Minimum Retail Investment | ₹14,665 (approx.) |
| Subscription Dates | July 8 – July 10, 2026 |
| Allotment Date | July 13, 2026 |
| Listing Date | July 15, 2026 (NSE & BSE) |
| Registrar | Bigshare Services Pvt. Ltd. |
| Lead Manager | Axis Capital Ltd. |
Since the entire offer is a sale by existing promoters (Offer for Sale), the company itself will not receive any funds from the issue — the proceeds go entirely to the selling shareholders after deducting issue-related expenses.
Subscription and GMP Snapshot
| Category | Subscription Level |
| Retail Investors | Around 28 times |
| Non-Institutional Investors (NII) | Around 174 times |
| Qualified Institutional Buyers (QIB) | Nearly 300 times |
| Overall Subscription | Over 135 times |
The grey market premium for Kusumgar hovered between ₹150 and ₹165 in the final days of bidding, suggesting a listing price close to ₹570-₹580 based on the upper price band. It’s worth remembering that GMP figures are informal indicators from the unofficial market and are not endorsed or tracked by SEBI, so they shouldn’t be treated as a guaranteed listing gain.
Financial Snapshot
| Metric | FY26 | FY25/FY24 |
| Profit After Tax | Around ₹98 Crore | ₹84 Crore (FY24 |
| Revenue Trend | Declined roughly 10% | — |
| Employee Strength | 2,077 | — |
Kusumgar’s profit has grown steadily over recent years, though the company saw a dip in both revenue and profit in the latest fiscal year, largely tied to shifts in its order book and expansion-related capital spending. The company also carries debt of over ₹220 crore, which analysts flag as a point worth watching before investing.
The anchor round, held on July 7, 2026, saw Kusumgar raise close to ₹194 crore from 23 institutional investors at the top end of the price band. Domestic mutual funds took the lion’s share of anchor allocation, with foreign portfolio investors and life insurance companies rounding out the rest.
Frequently Asked Questions
Q1. What is the price band of the Kusumgar IPO?
The price band is fixed between ₹398 and ₹419 per equity share.
Q2. When will Kusumgar shares list on the stock exchange?
Shares are expected to debut on both NSE and BSE on July 15, 2026, subject to completion of the allotment process.
Q3. What is the minimum investment required for retail investors?
Retail investors need to apply for at least one lot of 35 shares, which comes to roughly ₹14,665 at the upper price band.
Q4. Is the Kusumgar IPO a fresh issue or an Offer for Sale?
It is entirely an Offer for Sale of 1.55 crore equity shares, meaning the company itself will not receive any proceeds from the issue.
Q5. What does Kusumgar Limited manufacture?
The company makes engineered synthetic fabrics used in aerospace, defence, automotive, industrial and outdoor lifestyle products, including specialized items like parachute systems and camouflage materials.
Q6. Who is the registrar for the Kusumgar IPO?
Bigshare Services Pvt. Ltd. is handling the registrar duties for this issue.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Investors should review the Red Herring Prospectus and consult a financial advisor before applying.
