Kusumgar IPO 2026: Price Band, GMP, Allotment Date, Review, Financials & Full Details
Kusumgar IPO Overview
The Kusumgar IPO is scheduled to open on July 8, 2026, and will close on July 10, 2026. The IPO is a book-built issue through which the company aims to raise approximately ₹650 crore through an Offer for Sale (OFS).
The IPO price band has been fixed between ₹398 and ₹419 per equity share. The issue includes participation from retail investors, Qualified Institutional Buyers (QIBs), and High Net-worth Individuals (HNIs). The shares are expected to be listed on both BSE and NSE on July 15, 2026.
Kusumgar Limited operates in the specialized synthetic fabric manufacturing industry and supplies engineered fabrics for sectors such as aerospace, defense, automotive, industrial, and lifestyle applications.
Kusumgar IPO Important Dates
| IPO Event | Date |
| IPO Open Date | July 08, 2026 |
| IPO Close Date | July 10, 2026 |
| Basis of Allotment | July 13, 2026 |
| Refund Initiation | July 14, 2026 |
| Shares Credit to Demat | July 14, 2026 |
| Listing Date | July 15, 2026 |
Kusumgar IPO Details
| Particulars | Details |
| IPO Name | Kusumgar IPO |
| IPO Type | Book Built Issue |
| Total Issue Size | ₹650 Crore |
| Fresh Issue | Nil |
| Offer for Sale (OFS) | ₹650 Crore |
| Face Value | ₹1 per share |
| Price Band | ₹398 - ₹419 per share |
| Listing Exchange | BSE & NSE |
| Employee Discount | ₹39 per share |
The entire IPO consists of an Offer for Sale (OFS), meaning the proceeds will go to existing shareholders selling their shares. The company will not receive any direct funds from this issue.
Kusumgar IPO Price Band and Lot Size
The minimum investment requirement for different investor categories is given below:
| Category | Lots | Shares | Amount (Upper Band ₹419) |
| Retail Minimum | 1 | 35 | ₹14,665 |
| Retail Maximum | 13 | 455 | ₹1,90,645 |
| Small HNI | 14 | 490 | ₹2,05,310 |
| Big HNI | 69 | 2,415 | ₹10,11,885 |
Kusumgar IPO Reservation Details
The IPO shares will be allocated among different investor categories as per SEBI guidelines.
| Investor Category | Reservation |
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Retail Investors | Not less than 35% |
| Non-Institutional Investors (NII/HNI) | Not less than 15% |
Kusumgar IPO Anchor Investors
The anchor investor bidding process was completed on July 7, 2026.
According to IPO lock-in regulations:
- 50% of anchor shares will be unlocked on August 11, 2026
- Remaining 50% of anchor shares will be unlocked on October 10, 2026
About Kusumgar Limited
Established in 1990, Kusumgar Limited is a manufacturer of woven, coated, and laminated synthetic fabrics, also known as engineered fabrics.
The company uses advanced polyurethane technology to manufacture fabrics made from:
- Polyamide filaments
- Polyester filaments
By March 2025, Kusumgar had developed more than 100 varieties of fabrics designed for high-performance applications.
The company's products are used across multiple industries, including:
- Aerospace
- Defense
- Automotive
- Industrial applications
- Outdoor products
- Lifestyle products
Recently, Kusumgar has expanded its presence in defense and aerospace sectors with products such as:
- Parachute systems
- Stealth materials
- Rapid deployment systems
The company's focus is on developing durable fabrics with features like:
- High strength
- Tear resistance
- Waterproof protection
- Breathability
- Long-term durability
Kusumgar IPO Financial Performance
The company has maintained profitability; however, revenue and profit declined slightly in FY2026 compared with FY2025.
Financial Highlights (₹ Crore)
| Particulars | FY2024 | FY2025 | FY2026 |
| Total Income | 474.55 | 790.21 | 711.78 |
| Revenue from Operations | 467.91 | 778.91 | 692.00 |
| EBITDA | 131.85 | 188.39 | 187.85 |
| Profit After Tax (PAT) | 84.40 | 111.99 | 98.20 |
| Net Worth | 140.40 | 257.80 | 503.00 |
The company shows strong profitability margins and controlled debt levels. However, the valuation appears high compared with traditional textile sector companies.
Kusumgar IPO GMP (Grey Market Premium)
The Grey Market Premium (GMP) of Kusumgar IPO is currently estimated around ₹166–₹168 per share.
Based on the upper price band of ₹419, the expected listing gain could be approximately 40% if the current GMP trend continues.
However, GMP is unofficial and can change depending on market conditions, demand, and investor sentiment.
Kusumgar IPO Review
Positive Factors (Strengths)
1. Strong Industry Position
Kusumgar operates in the specialized engineered fabric segment, which has high entry barriers due to technical expertise and certifications.
2. Defense and Aerospace Opportunity
Expansion into defense and aerospace sectors provides long-term growth opportunities.
3. Strong Profitability
The company maintains healthy EBITDA margins and return ratios.
4. Controlled Debt
The debt-to-equity ratio indicates manageable financial obligations.
Risks Associated With Kusumgar IPO
1. No Fresh Fund Raising
Since the IPO is completely an OFS, the company will not receive funds for expansion or business growth.
2. Revenue and Profit Decline
The company reported a decline in revenue and PAT during FY2026 compared with FY2025.
3. High Valuation
With a P/E ratio of approximately 44.8x, the IPO valuation appears expensive compared with some textile companies.
4. Sector-Specific Risks
Demand fluctuations in textile and industrial sectors may impact future growth.
Should You Invest in Kusumgar IPO?
Kusumgar Limited has a strong presence in the engineered fabric industry with exposure to high-growth sectors like defense and aerospace. The company has healthy margins, good return ratios, and controlled debt.
However, investors should consider the high valuation and the fact that the IPO is entirely an Offer for Sale. Since the company is not receiving fresh capital, investors should evaluate long-term growth prospects before investing.
A long-term investment approach may be suitable for investors who understand the risks associated with valuation and sector cycles.
FAQs
Q1. When will the Kusumgar IPO open?
Kusumgar IPO will open on July 8, 2026.
Q2. What is the Kusumgar IPO price band?
The IPO price band is ₹398 to ₹419 per share.
Q3. What is the Kusumgar IPO issue size?
The total issue size is approximately ₹650 crore.
Q4. When will Kusumgar IPO shares be listed?
The shares are expected to list on July 15, 2026 on BSE and NSE.
Q5. Is Kusumgar IPO a fresh issue?
No, the IPO consists entirely of an Offer for Sale (OFS).