Kusumgar Ltd.
KUSUMGARMainboard
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Overview
Kusumgar Limited is an engineered fabrics manufacturer focused on woven, coated and laminated synthetic fabrics and specialized solutions for demanding aerospace and defence, industrial and automotive, and outdoor and lifestyle applications. Kusumgar Limited works primarily with polyamide and polyester filaments and polyurethane chemistry, and has developed over 1,000 fabric configurations as of March 31, 2026. The company operates vertically integrated manufacturing capabilities across weaving, dyeing, printing, finishing, coating, lamination and fabrication through facilities in Gujarat and a fabrication unit in Uttar Pradesh. Kusumgar Limited has expanded from technical fabrics into finished aerospace and military products such as parachute systems, stealth solutions and rapid deployment systems, while serving customers in India and export markets with a growing mix of high-performance and customized products.
Opening Date
Jul 08, 2026
Closing Date
Jul 10, 2026
Listing Date
Jul 15, 2026
IPO Type
Mainboard
IPO Status
Closed
Issue Size
650 Cr
Fresh Issue
0 Cr
Offer for Sale
650 Cr
Price Band
₹398 - ₹419
Lot Size
35
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to complete the offer for sale and secure the benefits of listing on the stock exchanges.
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Carry out an offer for sale of equity shares by the promoter selling shareholders aggregating up to ₹650.00 crore, enabling them to partially monetize their investment through a regulated public market transaction.
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Achieve listing of Kusumgar Limited's equity shares on the stock exchanges, which is expected to improve corporate visibility, strengthen market recognition and enhance the company's brand among customers, partners and investors.
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Create a public market for the company's equity shares in India, improving liquidity and providing an exit and price discovery mechanism for existing shareholders.
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Support broader market access and investor participation through listing, which can help institutionalize the shareholder base and improve trading visibility, even though the company itself will not receive any proceeds from this offer for sale.
Key Performance Indicator
P/E Ratio
44.8
EPS
9.35
ROE
25.82%
ROCE
24.76%
RONW
25.82%
Debt to Equity Ratio
—
PAT Margin
13.8%
EBITDA Margin
27.15%
P/B
8.45
SWOT Analysis
Strengths
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Operates in engineered fabric niches with high technical entry barriers, long approval cycles and customer stickiness.
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Vertically integrated manufacturing across weaving, processing, coating, lamination and fabrication supports quality control and delivery reliability.
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Diversified presence across aerospace and defence, industrial and automotive, and outdoor and lifestyle segments reduces dependence on one end market.
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Strong product development and partnership ecosystem enables customized solutions, technology access and export market opportunities.
Weaknesses
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Revenue concentration in certain large orders and customers can create volatility across periods, especially in defence-related segments.
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Working capital cycle increased sharply to 90 days in Fiscal 2026, reflecting greater cash absorption in operations.
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Business depends on specialised raw materials and imported machinery, exposing operations to supply chain disruptions and procurement costs.
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A significant part of profitability is influenced by high-value defence and export programs, which may have uneven ordering patterns.
Opportunities
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Rising global and Indian defence spending can expand demand for parachute systems, stealth products and specialised aerospace fabrics.
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China-plus-one sourcing shifts and supply chain diversification can support export growth in performance fabrics and outdoor applications.
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Expansion into higher value finished solutions such as camouflage systems, shelters, decoys and parachute assemblies can improve margins.
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Growing demand for technical textiles in automotive, industrial, activewear and luggage segments can widen the addressable market.
Threats
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Raw material price volatility, especially petrochemical-based inputs such as nylon and polyester, can pressure margins.
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Tariffs, trade restrictions and changes in export-import regulations could affect overseas demand and sourcing economics.
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Rapid technology changes in engineered fabrics and smart materials may require continuous R&D and capital investment to stay competitive.
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Competition from established domestic and global technical textile players may create pricing pressure and customer retention challenges.
Subscription Rate
Frequently Asked Questions about Kusumgar Ltd.
Kusumgar Limited is an engineered fabrics manufacturer focused on woven, coated and laminated synthetic fabrics and specialized solutions for demanding aerospace and defence, industrial and automotive, and outdoor and lifestyle applications. Kusumgar Limited works primarily with polyamide and polyester filaments and polyurethane chemistry, and has developed over 1,000 fabric configurations as of March 31, 2026. The company operates vertically integrated manufacturing capabilities across weaving, dyeing, printing, finishing, coating, lamination and fabrication through facilities in Gujarat and a fabrication unit in Uttar Pradesh. Kusumgar Limited has expanded from technical fabrics into finished aerospace and military products such as parachute systems, stealth solutions and rapid deployment systems, while serving customers in India and export markets with a growing mix of high-performance and customized products.
The Kusumgar Ltd. IPO is scheduled to open for subscription on Jul 08, 2026 and close on Jul 10, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Kusumgar Ltd. IPO is ₹398 to ₹419. Investors can place bids within this range once the issue opens.
The minimum lot size for the Kusumgar Ltd. IPO is 35 shares. The minimum investment amount ₹14,665.
The total issue size of the Kusumgar Ltd. IPO is approximately ₹650.00. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Kusumgar Ltd. IPO has been subscribed 13.9 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Kusumgar Ltd. IPO is ₹[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Kusumgar Ltd. are expected to list on stock exchanges on Jul 15, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Kusumgar Ltd. IPO are proposed to be used for The main objectives of the issue are to complete the offer for sale and secure the benefits of listing on the stock exchanges., Carry out an offer for sale of equity shares by the promoter selling shareholders aggregating up to ₹650.00 crore, enabling them to partially monetize their investment through a regulated public market transaction., Achieve listing of Kusumgar Limited's equity shares on the stock exchanges, which is expected to improve corporate visibility, strengthen market recognition and enhance the company's brand among customers, partners and investors., Create a public market for the company's equity shares in India, improving liquidity and providing an exit and price discovery mechanism for existing shareholders., Support broader market access and investor participation through listing, which can help institutionalize the shareholder base and improve trading visibility, even though the company itself will not receive any proceeds from this offer for sale.
Before applying for the Kusumgar Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
