Kusumgar Ltd IPO on Day 3, Final Day of Bidding on Friday, July 10; Investor Interest Remains Strong Across Categories The issue has seen robust demand in the first two days and has gathered steam thereafter, mainly driven by non-institutional investors (NIIs) and retail buyers.
According to Chittorgarh data, the Rs 650 crore public issue had been subscribed nearly 25.75 times at around 11:14 am on Day 3. The grey market premium (GMP) also recovered after two sessions of decline, which is an indication of the continued optimism around the listing.
Kusumgar IPO Subscription Status Day 3
Investor participation shot up on the last day of bidding.
Around 11:14 am on the last day of bidding, investors subscribed to the Kusumgar IPO 25.75 times overall. The bulk of the demand came from non-institutional investors (NIIs), who booked 81.78 times their share, indicating robust interest from high-net-worth investors.
The retail portion received subscriptions of 15.13 times and the qualified institutional buyer (QIB) portion (excluding anchor investors) received subscriptions of 2.87 times. The strong subscription across investor categories is a sign of good demand for the public issue, which is entering the final day of subscription.
One of the biggest highlights of the issue has been the strong response from the NII segment.
Kusumgar IPO GMP Today
The grey market premium has also firmed up after slipping over the last two sessions.
Market trackers said the Kusumgar IPO GMP was around Rs 159 on Friday morning. At the upper band of Rs 419, the shares indicate a potential listing price of around Rs 578, representing a potential premium of approximately 38% over the issue price, which is the estimated premium.
Grey market premiums are unofficial and not indicative of future performance.
What Does Kusumgar Do?
Kusumgar Ltd was incorporated in 1990 to manufacture woven, coated and laminated technical textiles, which are engineered synthetic fabrics.
Various industries, including aerospace and defence, automotive, outdoor and lifestyle products, and industrial applications, use its products.
The company makes specialised materials that go into parachutes, tactical gear, stealth technology, camouflage nets, deployable shelters, rainwear, backpacks, tents and industrial rubber goods.
As of March 31, 2026, Kusumgar had developed more than 1,000 fabric SKUs, aiding the company in building a diversified product portfolio.
Its defence business accounts for a large part of its revenues and is one of the company’s key growth drivers.
What Do The Brokerages Say?
Broking SBI Securities has recommended investors subscribe to the IPO with a long-term investment horizon.
The broking said the stock is priced at a premium, around 44.8 times FY26 earnings at the upper end of the price band, but the premium valuation is justified by the company’s stronger growth prospects, healthy EBITDA margins and profitability compared with peers.
Kusumgar IPO Information
Size of Issue: Rs. 650 crore
Issue Type: OFS (Offer for Sale) 100%
Price Band: Rs 398-Rs 419/Share
Lot Size: 35 shares
Minimum Investment: Rs. 14,665
IPO Closing Date: 10th July 2026
Allotment expected: July 13, 2026
Listing Expected: July 15, 2026
Exchanges Listed: NSE and BSE
The issue has been reserved for QIB (50 per cent), non-institutional investors (15 per cent) and retail investors (35 per cent). Axis Capital, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers, while Bigshare Services is the registrar to the issue.
What Investors Should Watch For
The IPO has garnered robust subscriptions, resulting in positive sentiment in the grey market and positive opinions from market experts and brokerages. Kusumgar has become one of the most watched public issues this week. However, investors should keep in mind that this is a 100% offer for sale and the company will not get any fresh capital from the IPO, and also consider valuation and business risks before taking any investment decision.
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)
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Priyanka Roshan is a business writer and assistant editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Bussiness, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
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