Kusumgar, a prominent Mumbai-based manufacturer of engineered fabrics, has announced the details for its much-anticipated Initial Public Offering (IPO). The public issue, valued at Rs 650 crore, is scheduled to open for subscription on July 8, 2026, and will conclude on July 10, 2026.
Kusumgar IPO: Price Band and Valuation
The company has fixed the price band for its IPO at Rs 398 to Rs 419 per equity share. At the upper end of this price band, Kusumgar's market valuation is estimated at Rs 4,399.1 crore. Investors will be able to bid for a minimum of 35 equity shares, with subsequent bids in multiples of 35 shares.
For retail investors, the minimum investment required will be Rs 14,665, while the maximum investment allowed under the retail category is Rs 1,90,645.
Offer Structure and Allocation
The entire Rs 650 crore IPO is structured as an offer-for-sale (OFS) by the promoters. This means the net proceeds from the issue will go to the selling shareholders, who include Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF.
A portion of the issue, specifically shares worth Rs 3.5 crore, has been reserved for employees. Eligible employees will receive these shares at a discount of Rs 39 per share to the final issue price.
The allocation of the total issue is as follows:
- Qualified Institutional Buyers (QIBs): 50%
- Non-Institutional Investors (NIIs): 15%
- Retail Investors: 35%
About Kusumgar
Kusumgar specializes in the manufacturing of woven, coated, and laminated synthetic fabrics. The company offers a diverse portfolio of over 1,000 fabric configurations, catering to critical sectors such as aerospace and defence, industrial and automotive applications, and outdoor and lifestyle segments. Their expertise also extends to engineered fabrics and solutions utilizing polyamides, polyester filaments, and polyurethane chemistry. Kusumgar competes with other listed entities in the market, including Garware Technical Fibres, Arvind, and SRF.
Financial Performance
In the financial year ended March 2026, Kusumgar reported a net profit of Rs 98.2 crore, marking a 12.3% decrease from Rs 112 crore in the previous fiscal year. Revenue also saw a decline of 11.2%, falling to Rs 692 crore from Rs 779 crore. However, in FY25, the company had experienced robust growth, with profit rising by 32.7% to Rs 112 crore and revenue increasing by 66.5% to Rs 779 crore over FY24.
Key Dates and Listing
The shares of Kusumgar are scheduled to be listed on both the BSE and NSE on Wednesday, July 15, 2026. Axis Capital, IIFL Capital Services, and Motilal Oswal Investment Advisors are serving as the book-running lead managers for the issue, with Bigshare Services appointed as the registrar. Market observers noted a grey market premium (GMP) of Rs 135 per share for Kusumgar ahead of the IPO.