Kusumgar IPO Subscription Status Day 1: IPO Ends Day 1 With 3.44x Subscription; NII Portion Booked 7.32x

The Kusumgar Limited initial public offering (IPO), which opened for subscription on Wednesday, July 8, witnessed strong investor demand on the first day of bidding. The ₹650-crore public issue was subscribed 3.44 times by 5:00 PM, according to data available on the National Stock Exchange (NSE). The offer will remain open for subscription until July 10.

The non-institutional investor (NII) portion was subscribed 7.32 times, while the retail individual investor (RII) category was booked 3.50 times. The employee reservation was subscribed 1.69 times.

The public issue, priced in the range of ₹398–₹419 per equity share, is entirely an Offer for Sale (OFS). As there is no fresh issue, the company will not receive any proceeds from the offering. The basis of allotment is expected to be finalised on July 13, while the company's shares are proposed to list on the BSE and NSE on July 15.

Kusumgar IPO Subscription Status Day 1

Category-wise subscription for the Kusumgar IPO at the close of Day 1 is as follows:

Kusumgar IPO Issue Details

The issue comprises an Offer for Sale (OFS) of 1.55 crore equity shares at a price band of ₹398–₹419 per share. As there is no fresh issue, the company will not receive any proceeds from the offering.

Ahead of the IPO opening, Kusumgar raised ₹193.9 crore from anchor investors by allotting 46,28,877 equity shares at ₹419 apiece. 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.

Kusumgar IPO Reservation

The public issue has reserved up to 50% of the net offer for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs) and not less than 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.

Kusumgar IPO Lot Size

Investors can apply for a minimum of 35 equity shares and in multiples thereafter. At the upper end of the price band, the minimum application amount for retail investors is ₹14,665.

Kusumgar IPO Key Dates

The IPO opened for subscription on July 8 and will close on July 10. The basis of allotment is expected to be finalised on July 13, while refunds and credit of shares to successful applicants' demat accounts are likely on July 14. The company's shares are proposed to list on the BSE and NSE on July 15.

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 to the issue.

The issue will remain open for subscription until July 10. The basis of allotment is expected to be finalised on July 13, while the company's shares are proposed to list on the BSE and NSE on July 15.

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