- On day 2, in the morning, the overall subscription of the share sale stood at 4.99 times.
- Kusumgar IPO last GMP was Rs 160
- The company aims to raise Rs 650 crore.
The initial public offering of Kusumgar IPO was subscribed 4.99 times or 499 per cent, getting bids for 5,72,40,190 shares against 1,14,68,094 total offered shares till 10:42 AM on Thursday--the second day of bidding, according to NSE data. Earlier, the IPO was fully subscribed on Wednesday--the very first day of opening.
Kusumgar IPO Subscription Status
On day 2, till the above-mentioned time, the overall subscription of the share sale stood at 4.99 times.
Employees Category was subscribed to 2.20 times.
The retail section was subscribed to 4.77 times.
Shares reserved for the Non-Institutional sector were subscribed 11.63 times.
Qualified institutional quota was undersubscribed to allotted shares, getting 0.49 times the bid.
Kusumgar IPO GMP
Kusumgar IPO last GMP was Rs 160--updated on 10:35 AM on Investorgain. This indicates a listing price at 579, up 38.19 per cent from the IPO price of 419.00.
IPO Details
The company, which aims to raise Rs 650 crore, has announced a price band of Rs 398 to Rs 419 per share. According to the company's statement, its maiden public offering will open for subscription on July 8 and will conclude on July 10.
Entirely Offer For Sale
The IPO has been prepared entirely by the promoters as an offer for sale (OFS) of 105 million shares, which means the Mumbai-based firm will not receive any proceeds, and the money will go entirely to the selling shareholders.
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Half of the issue is reserved for eligible institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors, the company said.
About Kusumgar Ltd
Founded in 1990, the company manufactures woven, coated, and laminated synthetic fabrics, known as engineered fabrics. It primarily produces aerospace and defence fabrics, industrial and automotive textiles, and outdoor and lifestyle clothing.
The company has six manufacturing facilities in Gujarat and one fabrication unit in Uttar Pradesh. On the financial front, Kusumgar reported revenue from operations of Rs 692 crore and a net profit of Rs 98.2 crore in FY26.