Kusumgar IPO Subscription Status Day 2: Share Sale Subscribed 4.68x; NII Portion Booked 10.78x

The initial public offering (IPO) of Kusumgar Limited was subscribed 4.68 times on the second day of bidding. Investors placed bids for 5,36,55,385 equity shares against 1,14,68,094 shares on offer across categories. The three-day issue opened on Wednesday, July 8, and will remain available for subscription until July 10.

The non-institutional investor (NII) segment led demand, with subscriptions reaching 10.78 times the shares reserved for the category. The retail individual investor (RII) quota was subscribed 4.50 times, while the employee reservation portion was booked 2.07 times.

Kusumgar has fixed the IPO price band at ₹398–₹419 per equity share. The public issue is entirely an Offer for Sale (OFS) of 1.55 crore equity shares, meaning the company will not receive any proceeds from the issue.

Kusumgar IPO Subscription Status Day 2

Category-wise subscription for the Kusumgar IPO on Day 2 is as follows:

Kusumgar IPO Bidding Details

Retail investors can bid for a minimum of 35 equity shares and in multiples thereafter. At the upper end of the price band, the minimum investment required is ₹14,665.

Under the book-building process, up to 50% of the net offer is reserved for Qualified Institutional Buyers, 35% for retail investors and 15% for non-institutional investors. Shares worth ₹3.5 crore have also been reserved for eligible employees, who will receive a ₹39 per share discount on the final issue price.

Kusumgar IPO Issue Details

The IPO is entirely an OFS aggregating ₹650 crore. Ahead of the public issue, Kusumgar raised ₹193.9 crore from anchor investors by allotting 46,28,877 equity shares at ₹419 apiece.

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 on July 13, and the shares are proposed to list on the BSE and NSE on July 15.

The Kusumgar IPO continued to see strong demand on Day 2, led by non-institutional investors and retail participants. The issue will remain open for subscription until July 10, with the final subscription figures to be updated after the close of bidding.

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