Kusumgar IPO GMP, Date, Price Band & Review

Kusumgar IPO Details

Kusumgar IPO is a fully book-built mainboard issue aggregating to ₹650 crore. The IPO is entirely an Offer for Sale (OFS), which means the company will not receive any proceeds from the issue and the entire amount will go to the selling shareholders. The company had filed its Draft Red Herring Prospectus in September 2025, received SEBI approval in January 2026 and has now launched the issue with final terms.

The price band for the issue is ₹398 to ₹419 per equity share of face value ₹1 and the lot size is 35 equity shares. The minimum investment amount for a retail investor is ₹14,665 at the upper price band for one lot. The issue opens for subscription on July 8, 2026 and closes on July 10, 2026. The shares are proposed to be listed on both the BSE and NSE with a tentative listing date of July 15, 2026. The anchor book opens on July 7, 2026. The Book Running Lead Managers to the issue are Axis Capital Limited, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited, while Bigshare Services Private Limited is the registrar to the issue.

Kusumgar IPO Date & Timeline

The Kusumgar IPO is officially set to open for subscription on July 8, 2026 and will close on July 10, 2026. The anchor investor portion will open on July 7, 2026, one day before the public issue opens. Once the subscription window closes, the basis of allotment is expected to be finalised on July 13, 2026.

Following this, refunds are likely to be initiated on July 14, 2026 and shares are expected to be credited to successful bidders’ demat accounts on the same day. Finally, Kusumgar Limited shares are tentatively scheduled to list on both the BSE and NSE on July 15, 2026.

Kusumgar IPO GMP

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Kusumgar IPO GMP is currently trading at ₹153, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹572, which is 36.52% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Kusumgar Limited is an engineered synthetic fabrics manufacturer. The company manufactures woven, coated and laminated synthetic fabrics and serves multiple application areas, including aerospace and defence fabrics, industrial and automotive fabrics and outdoor and lifestyle fabrics.

The company is based in Mumbai and operates a manufacturing-heavy business model. Its product mix and sector exposure place it in a specialised industrial-textiles segment rather than a standard commodity textile category.

Operations & Product Range

Kusumgar manufactures engineered fabrics used in specialised end-use industries. Its products span aerospace and defence fabrics, industrial and automotive fabrics and outdoor and lifestyle fabrics. This diversified application base gives the company exposure to both industrial demand and niche performance-fabric use cases.

The company’s business model is manufacturing-led and quality-driven. In such a business, scale, technical capability, customer relationships and the ability to consistently supply specialised fabric products are critical growth drivers.

Facilities & Capacity

Kusumgar has six manufacturing facilities in Gujarat and one fabrication unit in Uttar Pradesh. This gives the company a multi-location production base, which supports manufacturing scale and product diversification.

Since the IPO is entirely an OFS, the company will not receive fresh capital from the issue for capex, debt repayment, or business expansion. That is an important point for investors because the listing is not directly tied to a new project or operating expansion funded by IPO proceeds.

Brands & Market Presence

Kusumgar operates in a specialised engineered-fabrics segment serving multiple industrial and technical use cases. Its positioning is driven more by manufacturing capability, specialised application expertise and product quality than by consumer-brand visibility.

Because the business serves sectors like defence, aerospace, automotive and performance textiles, its market profile is more B2B and solution-oriented than retail-led.

Revenue Streams & Business Model

Kusumgar earns revenue through the manufacture and sale of engineered synthetic fabrics across industrial, automotive, aerospace, defence and outdoor-use applications. Its business model depends on manufacturing scale, technical product capability and customer demand from specialised industries.

The company delivered strong FY25 numbers before moderating in FY26. Revenue from operations in FY25 was about ₹779 crore and net profit was about ₹112 crore. The latest FY26 update indicates revenue of around ₹712 crore and PAT of about ₹98 crore, reflecting a year-on-year decline in both revenue and profit. Another recent summary indicates revenue of about ₹692 crore in FY26 and profit of about ₹98 crore, which supports the same broad direction of softer FY26 performance compared with FY25.

At the upper end of the price band, the company is expected to command a market capitalisation of about ₹4,399 crore. Recent valuation commentary also suggests that the IPO is priced at around 45x FY26 earnings at the upper band, indicating a relatively rich valuation compared with some listed peers.

Management & Shareholding

Kusumgar IPO is entirely an Offer for Sale by the promoter group. The promoter selling shareholders are Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar and Siddharth Yogesh Kusumgar HUF. Because the issue is fully OFS-based, the company itself will not receive any part of the IPO proceeds.

The issue includes an employee reservation portion of up to ₹3.5 crore. Eligible employees are being offered a discount of ₹39 per share on the final issue price.

Board & Key Management

The company is promoter-led, with the Kusumgar family remaining central to management and ownership. In a specialised manufacturing business like this, leadership quality matters because growth depends on customer retention, product development, manufacturing discipline and sector-specific execution.

As the company moves toward listing, investor focus will also shift more closely toward governance, earnings consistency and performance during weaker demand phases such as the softer FY26 period.