Kusumgar IPO Subscription Status Day 3: Issue Subscribed 14x So Far; NII Portion Booked Over 42 Times

The initial public offering (IPO) of Kusumgar Ltd continued to attract strong investor interest on the final day of bidding, with the issue subscribed over 120 times by 3:30 PM on Friday, according to provisional data available on the National Stock Exchange (NSE). Investors placed bids for more than 140 crore equity shares against 1.14 crore shares on offer across investor categories. The three-day public issue closes on July 10.

Demand was led by Qualified Institutional Buyers (QIBs), whose reserved portion was subscribed over 268 times. The Non-Institutional Investor (NII) category followed with subscriptions of about 162 times, while the Retail Individual Investor (RII) portion was subscribed around 24.2 times. The employee reservation was booked nearly 9.44 times.

Kusumgar has fixed the IPO price band at ₹398–₹419 per equity share. The issue is entirely an Offer for Sale (OFS) of 1.55 crore equity shares, meaning the proceeds from the issue will accrue to the selling shareholders. 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 3

Category-wise subscription for the Kusumgar IPO as of 3:30 PM on July 10, 2026, is as follows:

Kusumgar IPO Details

Kusumgar is raising ₹650 crore through an IPO comprising an Offer for Sale (OFS) of 1.55 crore equity shares. Since the issue is entirely an OFS, the company will not receive any proceeds from the public offering.

Ahead of the IPO opening, the company raised ₹193.9 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, Kotak Mahindra Life Insurance Company, along with domestic mutual funds including SBI Mutual Fund, ICICI Prudential Mutual Fund and Tata Mutual Fund.

The IPO has been priced in the range of ₹398–₹419 per share, with investors required to apply for a minimum of 35 equity shares and in multiples thereafter. At the upper end of the price band, the minimum investment for retail investors works out to ₹14,665.

Kusumgar IPO Reservation

The issue has reserved up to 50% of the net offer for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs) and at least 35% for Retail Individual Investors (RIIs). 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.

Book Running Lead Managers

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 Kusumgar IPO closed its subscription period with strong participation across investor categories, led by institutional and non-institutional investors. The basis of allotment is expected to be finalised on July 13, while the shares are scheduled to debut on the BSE and NSE on July 15.

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