Blockbuster Market Debut! Kusumgar share price lists at ₹569, a rally of around 36% from IPO price

Kusumgar IPO listingAI Quick ReadKusumgar IPO Listing: Kusumgar share price made a muted debut in the Indian stock market today, July 15, as it got listed at ₹569 apiece on NSE, a premium of 35.80% over its initial public offering (IPO) price of ₹419. Meanwhile, on BSE, it debut at ₹574, a rally of 37% from issue price.

The listing met Street expectations, as seen from the grey market premium (GMP). Kusumgar IPO GMP stood at ₹161 per share, which indicated a likely listing price of ₹580 — a premium of just 38.42% to offer price.

Kusumgar IPO witnessed strong demand in 3 days of bidding subscribed 135.80 times in total.

The Retail Individual Investors (RIIs) segment was booked 27.97 times, while the Non Institutional Investors (NII) category was subscribed 174.28 times. The Qualified Institutional Buyers (QIBs) category received 299.51 times bids. Moreover, the employee quota was booked 11.09 times.

The issue received bids for 147.80 crore as against 1.08 crore shares on offer.

The IPO of Kusumgar opened for subscription on July 9 and closed on July 11. The company had fixed the price band at ₹398-419 per share.

The ₹650 crore issue comprised an entirely Offer for Sale (OFS) of 1.55 crore equity shares, with no fresh issue component. As the issue was a 100% OFS, the entire proceeds will go to the selling shareholders, while the company will not receive any funds from the public issue.

The basis of allotment was finalised on July 13. Shares were credited to the demat accounts of successful applicants on July 14, while refunds to unsuccessful bidders were also processed on the same day.

The lot size was fixed at 35 shares, requiring a minimum investment of ₹14,665 for retail investors at the upper end of the price band. The issue includes a reservation of up to 92,105 shares for employees offered at a discount of ₹39.00 to the issue price.

Ahead of the public issue, the manufacturer of woven, coated and laminated synthetic fabrics, also known as engineered fabrics, raised ₹193.9 crore from anchor investors by allotting 46,28,877 equity shares at ₹419 per share.

Axis Capital is the book-running lead manager to the issue, while Bigshare Services is the registrar.

Incorporated in 1990, Kusumgar Ltd. manufactures woven, coated and laminated synthetic fabrics, commonly referred to as engineered fabrics. Its products are primarily made using polyamide and polyester filaments with polyurethane chemistry.

As of March 31, 2026, the company had developed more than 1,000 unique fabric types (SKUs), establishing a strong presence in the synthetic functional and performance fabrics segment. Its products serve a diverse range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle.

In recent years, the company has expanded its portfolio by manufacturing finished products for aerospace and military applications, including parachute systems, stealth materials and rapid deployment systems.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.