Kusumgar IPO Subscription Status Day 2: Share Sale Subscribed 4.68x; NII Portion Booked 10.78x
- By Kotak News Desk
- 09 Jul 2026 at 12:23 PM IST
- 4m
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The ₹650-crore public issue continued to attract strong investor interest, with subscriptions reaching 6.31 times by 12:02 PM on the second day of bidding.
The initial public offering (IPO) of Kusumgar Ltd continued to witness strong investor participation on the second day of bidding. According to provisional data available on the National Stock Exchange (NSE) at 12:02 PM, the ₹650-crore public issue was subscribed 6.31 times, with investors placing bids for 6.44 crore equity shares against the net offer. The issue will remain open for subscription until July 10.
Demand continued to be led by the Non-Institutional Investor (NII) segment, which was subscribed 15.43 times its reserved quota. The Retail Individual Investor (RII) category was booked 5.78 times, while the Qualified Institutional Buyers (QIBs) portion was subscribed 0.50 times. The issue had closed Day 1 with an overall subscription of 3.44 times and continued to attract bids across investor categories on the second day.
The IPO has been priced in the range of ₹398–₹419 per equity share and is entirely an Offer for Sale (OFS) of 1.55 crore equity shares. As there is no fresh issue, the company will not receive any proceeds from the public offering. The basis of allotment is expected to be finalised on July 13, while the shares are proposed to list on the BSE and NSE on July 15.
Kusumgar IPO Subscription Status Day 2
Category-wise subscription for the Kusumgar IPO on Day 2 is as follows:
Qualified Institutional Buyers (QIBs) | 0.50x |
Non-Institutional Investors (NIIs) | 15.43x |
Retail Individual Investors (RIIs) | 5.78x |
Total | 6.31x |
Kusumgar IPO Subscription Status
The Kusumgar IPO continued to see steady demand across investor categories on the second day of bidding. The Kusumgar IPO continued to gain momentum on the second day of bidding, with overall subscription increasing from 3.44 times at the close of Day 1 to 6.31 times by 12:02 PM on Day 2.
Day 1 | 3.44x |
Day 2 | 6.31x |
Kusumgar IPO Details
Kusumgar is looking to raise ₹650 crore through an IPO that comprises an Offer for Sale (OFS) of 1.55 crore equity shares. Since the issue is entirely an OFS, the proceeds will accrue to the selling shareholders and the company will not receive any funds from the public issue.
Ahead of the IPO opening, the company raised ₹193.95 crore from anchor investors after allotting 46,28,877 equity shares at ₹419 per share. The anchor book included investors such as BlackRock Global Funds – India Fund, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio and Kotak Mahindra Life Insurance Company, among others.
The IPO has been priced in the range of ₹398–₹419 per equity share, with investors required to apply for a minimum of 35 equity shares and in multiples thereafter.
Axis Capital, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while Bigshare Services is the registrar. The basis of allotment is expected to be finalised on July 13, and the shares are proposed to list on the BSE and NSE on July 15.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, visit www.kotakneo.com/disclaimer.
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