Kusumgar Shares Debut At Up To 37% Premium After IPO Draws Strong Demand

Kusumgar Ltd. made a strong debut on the stock exchanges on Tuesday, with its shares listing at a premium of up to 37% over the initial public offering (IPO) price after the public issue received overwhelming investor demand.

The stock opened at ₹569 on the National Stock Exchange (NSE), a premium of 35.80% over its issue price of ₹419 per share. On the Bombay Stock Exchange (BSE), it debuted at ₹574, reflecting a gain of nearly 37% from the IPO price.

The listing comes after the company's ₹650 crore IPO was subscribed 135.80 times during the three-day bidding period. On 15 July 2026, Kusumgar Ltd.’s shares were up 43.87% on the NSE and 44.26% on the BSE at closing.

Company Profile

Founded in 1990, Kusumgar manufactures woven, coated and laminated synthetic fabrics, commonly known as engineered fabrics. Its products are made primarily using polyamide and polyester filaments with polyurethane chemistry.

As of 31 March 2026, the company had developed more than 1,000 stock-keeping units (SKUs) across synthetic functional and performance fabrics. Its products cater to sectors including aerospace and defence, industrial and automotive, and outdoor and lifestyle.

The company has also expanded into finished products for aerospace and military applications, including parachute systems, stealth materials and rapid deployment systems.

Institutional Investors Lead Subscription

The Kusumgar IPO witnessed strong participation across investor categories, with qualified institutional buyers (QIBs) leading demand (see table).

Overall, the IPO received bids for 147.80 crore shares against 1.08 crore shares on offer.

Offer Details

Kusumgar opened its IPO for subscription on 9 July and closed on 11 July. The company had fixed the price band at ₹398-419 per share.

The ₹650 crore public issue consisted entirely of an offer for sale (OFS) of 1.55 crore equity shares. Since there was no fresh issue component, the proceeds from the issue will go to the selling shareholders, while the company will not receive any funds from the IPO.

The basis of allotment was finalised on 13 July. Shares were credited to successful applicants' demat accounts on 14 July, while refunds for unsuccessful bidders were processed the same day.

The IPO was offered in lots of 35 shares, taking the minimum investment for retail investors to ₹14,665 at the upper end of the price band. The issue also reserved up to 92,105 shares for employees, who were offered a discount of ₹39 per share.

Ahead of the IPO, Kusumgar raised ₹193.9 crore from anchor investors by allotting 46,28,877 equity shares at ₹419 apiece. Axis Capital acted as the book-running lead manager to the issue, while Bigshare Services served as the registrar.

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