Kusumgar IPO Opens for Subscription: Check Price Band, GMP, Key Dates, Financials

8 Jul 2026 , 11:20 AM

The Kusumgar IPO opened for subscription on July 8, 2026, offering investors an opportunity to participate in one of India’s leading manufacturers of engineered synthetic fabrics. The ₹650 crore book-built issue is entirely an Offer for Sale (OFS) and will remain open for bidding until July 10, 2026.

Backed by strong financials, a diversified product portfolio, and growing exposure to India’s aerospace and defence sectors, the IPO has also generated significant interest in the grey market, with a healthy premium ahead of listing.

Kusumgar IPO Details

The Kusumgar IPO is a ₹650 crore book-building issue, comprising 1.55 crore equity shares through an Offer for Sale. Since the issue is entirely an OFS, the company will not receive any proceeds, with the selling shareholders receiving the funds from the share sale.

IPO Schedule

• IPO Opens: July 8, 2026
• IPO Closes: July 10, 2026
• Allotment Date: July 13, 2026
• Refunds: July 14, 2026
• Shares Credited to Demat Accounts: July 14, 2026
• Tentative Listing Date: July 15, 2026

The shares are proposed to be listed on both the NSE and the BSE.

Price Band and Investment Details

The company has fixed the price band at ₹398 to ₹419 per share.

• Face Value: ₹1 per share
• Lot Size: 35 shares
• Minimum Investment for Retail Investors: ₹14,665 (at the upper price band)

For non-institutional investors:

• sNII: Minimum 14 lots (490 shares) requiring an investment of ₹2,05,310
• bNII: Minimum 69 lots (2,415 shares) requiring an investment of ₹10,11,885

The IPO is being managed by Axis Capital Ltd. as the book-running lead manager, while Bigshare Services Pvt. Ltd. is acting as the registrar.

About Kusumgar Ltd.

Founded in 1990, Kusumgar Ltd. manufactures woven, coated and laminated engineered synthetic fabrics used across several specialised industries.

Its products are manufactured using polyamide and polyester filaments combined with polyurethane chemistry and are designed for high-performance applications.

As of March 31, 2026, the company had developed more than 1,000 unique fabric variants (SKUs), serving customers across multiple sectors.

Diverse Business Segments

Kusumgar operates across four major business verticals:

Aerospace and Defence

The company manufactures high-performance fabrics used in:

• Parachute systems
• Tactical clothing
• Stealth materials
• Specialty military gear
• Rapid deployment systems

It has also expanded into manufacturing complete defence solutions, including camouflage nets and deployable shelters, while offering maintenance and repair services.

Industrial and Automotive

The company supplies engineered fabrics for:

• Automotive applications
• Mechanical Rubber Goods (MRG)
• Industrial tapes
• Inflatable products
• Other industrial applications

Outdoor and Lifestyle

Its performance fabrics are widely used in:

• Activewear
• Rainwear
• Winter clothing
• Backpacks
• Luggage
• Tents
• Sleeping bags

Competitive Strengths

Kusumgar has built a strong competitive position through:

• Operations in a niche industry with high entry barriers
• Strong product development and technical capabilities
• More than 1,000 specialised fabric variants
• Diversified presence across defence, industrial, automotive and lifestyle sectors
• Long-standing customer relationships
• Experienced promoters supported by a professional management team

Kusumgar Financial Performance

The company has maintained healthy profitability while strengthening its balance sheet.

FY26 Highlights

• Total Income: ₹711.78 crore
• Profit After Tax: ₹98.20 crore
• EBITDA: ₹187.85 crore
• Net Worth: ₹502.95 crore
• Total Assets: ₹905.07 crore
• Total Borrowings: ₹223.58 crore

Key Financial Ratios

• ROE: 25.82%
• ROCE: 24.76%
• Return on Net Worth (RoNW): 25.82%
• Debt-to-Equity Ratio: 0.44
• PAT Margin: 13.80%
• EBITDA Margin: 27.15%
• Price-to-Book Ratio: 8.45

The financial ratios indicate strong operational efficiency, healthy profitability and manageable leverage.

Kusumgar IPO GMP Today

The Grey Market Premium (GMP) remains strong ahead of the IPO.

As of July 8, 2026:

• Latest GMP: ₹166
• Upper IPO Price: ₹419
• Estimated Listing Price: ₹585
• Expected Listing Gain: Around 39.6%
• Estimated Profit Per Lot: Approximately ₹5,810

The GMP has remained consistently strong over the past week, fluctuating between ₹165 and ₹171, indicating positive investor sentiment.

However, investors should note that the Grey Market Premium is unofficial and should not be considered a guarantee of listing performance.