Kusumgar IPO 2026: Price band, dates, GMP, lot size

What is happening and why it matters

Kusumgar, an Indian manufacturer of engineered synthetic fabrics, is set to open its initial public offering (IPO) for public subscription on July 8, 2026. The issue comes at a time when investor interest in mainboard listings remains focused on pricing, allocation, and pre-listing demand indicators. Kusumgar caters to end-markets that include aerospace and defence, automotive applications, and outdoor performance gear, placing it within the broader technical textiles and engineered materials space.

The company has fixed a price band of ₹398 to ₹419 per equity share. The IPO is structured as a book-building issue and is proposed to be listed on both BSE and NSE. Importantly for investors tracking utilisation of IPO proceeds, this issue is entirely an offer for sale (OFS), meaning the company will not receive funds from the IPO.

IPO dates: anchor, subscription window, allotment, listing

The anchor investor portion is scheduled to open on July 7, 2026. The public issue will open on July 8 and close on July 10, 2026. The basis of allotment is expected to be finalised on July 13, 2026.

Multiple timelines in the provided information point to different listing dates. Several references indicate the shares are expected to list on July 15, 2026, while one schedule line shows “Listing Date 13 Jul 2026”. Another operational schedule mentions credit of shares and refunds around July 14. Investors typically rely on the final exchange schedule and registrar updates for confirmed timelines.

Price band, lot size, and minimum investment

Kusumgar has set the IPO price band at ₹398 to ₹419 per share. The lot size is 35 shares, and bids can be placed in multiples of 35 thereafter. Based on the upper end of the price band, the minimum retail investment for one lot is stated as ₹14,665.

The provided bidding examples also outline non-institutional categories by lot count. For sNII, the application size is shown as 14 lots (490 shares), amounting to ₹2,05,310 at the upper price. For bNII, it is shown as 68 lots (2,380 shares), amounting to ₹9,97,200 at the upper price.

Issue structure: 100% OFS and what it means

The IPO is entirely an offer for sale aggregating up to ₹650 crore, with no fresh issue of shares. In such a structure, the selling shareholders receive the proceeds and the company does not raise capital through the public offering.

Offer documents in the provided text state the OFS consists of 15,513,126 shares (about 1.55 crore shares). Separately, one Hindi-language line states promoters will sell 10.5 crore shares, which does not match the 1.55 crore share figure and appears inconsistent with other disclosed share counts in the same dataset. Investors generally refer to the final RHP/offer documents for the definitive offered share count.

Share allocations and employee reservation

The issue is being offered via the book-building process. The net offer allocation mentioned is up to 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Individual Investors (RIIs).

Kusumgar has also reserved shares worth ₹3.5 crore for eligible employees. Eligible employees are entitled to a discount of ₹39 per share on the final issue price, as stated in the provided information.

Grey Market Premium (GMP) and implied listing estimate

In the grey market, the IPO is reported to be commanding a GMP of around ₹139 per share. This is described as nearly 33% over the upper price band of ₹419. Based on this prevailing GMP, an estimated listing price of around ₹558 per share is cited.

GMP is an unofficial indicator and is not part of the formal IPO process. It can change quickly and does not guarantee listing performance. Investors typically use it only as one of several demand signals, along with subscription data and institutional participation.

Company equity base and promoter details disclosed

As of the date of the offer, Kusumgar is stated to have 104,991,372 outstanding equity shares of face value Re 1 each. The face value per share is Re 1.

The promoters named in the provided text are Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF. The OFS is described as being carried out by promoter selling shareholders.

Who is running the IPO and key operational details

The book-running lead managers for the IPO are Axis Capital Limited, IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited. Bigshare Services Private Limited is named as the registrar to the issue.

The company’s equity shares are proposed to be listed on both BSE and NSE, and the issue is described as a mainboard offering.

Key facts at a glance

What investors typically track next

With the subscription window set for July 8 to July 10, the next widely tracked datapoint will be category-wise subscription levels across QIB, NII, and retail buckets. For a 100% OFS issue, investors often focus on shareholder sell-down details, offer document disclosures, and valuation implied by the price band, alongside business positioning.

Operational milestones such as basis of allotment, refunds, and demat credit dates also matter for applicants managing funds and timelines. The final listing date should be confirmed through exchange and registrar communication, especially when different dates appear across sources.

Conclusion

Kusumgar’s ₹650 crore IPO opens on July 8, 2026, with a ₹398 to ₹419 price band, a 35-share lot, and a disclosed employee discount of ₹39 per share. The issue is fully an OFS, so proceeds go to selling shareholders rather than the company. The next confirmed milestones are the subscription close on July 10 and the expected basis of allotment on July 13, followed by exchange listing as per the final schedule on BSE and NSE.