The initial public offer of Kusumgar received bids for 3,95,95,045 shares as against 1,14,68,094 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (8 July 2026). The issue was subscribed 3.45 times. The issue opened for bidding on 8 July 2026 and it will close on 10 July 2026. The price band of the IPO is fixed between Rs 398 and 419 per share. An investor can bid for a minimum of 35 equity shares and multiples thereof.
The company plans to raise Rs 650 crore through the IPO, which consists entirely of an offer for sale of 1,55,13,126 shares at the upper price band of Rs 419. The entire proceeds from the sale will go to promoter shareholders Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF.
Employees will receive a discount of Rs 39 per share on the final issue price. Kusumgar has reserved shares worth Rs 3.5 crore for eligible employees.
Kusumgar is a leading manufacturer of engineered synthetic functional and performance fabrics used across aerospace & defence, industrial, automotive, and outdoor lifestyle applications. The company operates a vertically integrated manufacturing setup with facilities in Gujarat and Uttar Pradesh, enabling end-to-end production from weaving and coating to lamination and fabrication. It has developed over 1,000 fabric variants and derives a significant share of its revenue from both domestic and export markets, serving government and private sector customers.
Ahead of the IPO, Kusumgar on Tuesday, 7 July 2026, raised Rs 193.94 crore from anchor investors. The board allotted 46.28 lakh shares at Rs 419 each to 14 anchor investors.
The firm reported a consolidated net profit of Rs 98.20 crore and sales of Rs 692 crore for the twelve months ended on 31 March 2026.
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