Kusumgar IPO 2026: ₹6,500m OFS at ₹398-419

IPO snapshot: price band, size, and structure

Kusumgar Limited has announced a book-built initial public offering (IPO) with a price band of ₹398 to ₹419 per share. The total issue size is ₹6,500 million (₹650 crore). The IPO is structured entirely as an offer for sale (OFS), with no fresh issue component.

Because the issue is fully an OFS, the proceeds will go to the selling shareholders and not to the company. The stated objectives include carrying out the OFS by the promoter selling shareholders and achieving the benefits of listing the equity shares on the stock exchanges.

Key dates: opening, closing, allotment, and listing

The IPO is scheduled to open on July 8, 2026, and close on July 10, 2026. The allotment date is set for July 13, 2026. Kusumgar Limited is expected to list on July 15, 2026.

The shares are intended to be listed on both the BSE and the NSE. This dual listing is a standard approach for issuers seeking broader investor access across India’s two main exchanges.

Lot size and minimum investment

The issue has a lot size of 35 shares. Based on the provided minimum investment figure, the minimum application amount is ₹14,665.

For retail bidders, the lot size determines the smallest eligible bid in the public issue. Investors typically calculate their application amount using the cut-off price for book-built issues, but the disclosed minimum investment is the key number to track for eligibility and funding.

Who is selling: promoters and OFS details

The IPO’s OFS will be carried out by the promoters. The promoters listed for Kusumgar Limited are Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF.

In the OFS structure described, the sale is entirely by promoters, and the company will not receive any proceeds. The documentation also states promoter holding pre-issue at 90.48%.

Subscription allocation: QIB, NII, and retail split

The offer includes the standard reservation framework for investor categories. Retail Individual Bidders are allocated not less than 35% of the offer. Non-institutional bidders are allocated not less than 15% of the offer. QIBs are allocated not more than 50% of the offer size.

An employee quota is also indicated as available. The offer document text mentions an employee reservation portion and notes that the company, in consultation with the book running lead managers, may offer an employee discount up to a specified limit, although the exact numbers are not provided.

Regulatory and filing timeline: DRHP and SEBI approval

Kusumgar Ltd filed its Draft Red Herring Prospectus (DRHP) with SEBI on September 27, 2025, for a book building issue of ₹6,500 million, consisting entirely of an OFS. The company received SEBI approval on January 7, 2026, to launch the IPO. The approval validity is stated as 12 months.

Earlier descriptions also noted that details like price band, dates, and lot size were yet to be announced at that time. The current schedule provides these specifics, including the July 2026 subscription window.

Business profile: speciality technical textiles

Kusumgar Limited is described as a company engaged in the research, development, and manufacturing of speciality technical textiles for niche applications in India and abroad. The company is also described as established in 1970.

This context is relevant because the IPO is not raising fresh capital for expansion through a fresh issue. Instead, the listing is primarily linked to the OFS and the benefits of a public market listing.

Intermediaries and key contacts

Axis Capital Ltd. is appointed as the book running lead manager. Bigshare Services Pvt. Ltd. will act as the registrar of the issue.

The company contact details provided include: Kusumgar Limited, 101, Manjushree, V.M. Road, Corner of N.S. Road No. 5, JVPD Scheme, Vile Parle (West), Mumbai, Maharashtra - 400056; phone +91 22 6112 510; email cs@kusumgar.com; website https://kusumgar.com.

Registrar contact details provided include: Bigshare Services Pvt Ltd, phone +91-22-6263 8200; email ipo@bigshareonline.com.

Key IPO facts table

Category-wise allocation table

Market impact: what the OFS structure means for investors

The most important structural point is that the IPO is fully an OFS. Since there is no fresh issue, the company does not receive capital from the IPO for operations or expansion. The funds flow to the selling shareholders, and the issue primarily enables public listing and shareholding diversification.

The disclosed price band of ₹398 to ₹419 and the fixed lot size of 35 shares define how investors plan applications. The disclosed retail portion of not less than 35% also clarifies the minimum reservation for retail demand in the book-building process.

Analysis: why the listing details matter

With SEBI approval dated January 7, 2026 and DRHP filing dated September 27, 2025, the move into a July 2026 bidding window marks the transition from regulatory clearance to market execution. The disclosure of a firm timeline for opening, closing, allotment, and expected listing provides clarity for investors tracking allocation and listing dates.

Promoter holding of 90.48% pre-issue, alongside a promoter-led OFS, is a key disclosure because it frames the nature of stake sale and the post-listing shareholding evolution. Also, the inclusion of an employee quota indicates a reserved portion for eligible employees, though the exact size of the reservation is not specified in the provided text.

Conclusion

Kusumgar Limited’s ₹6,500 million IPO is a 100% book-built OFS priced at ₹398 to ₹419 per share, opening July 8, 2026 and closing July 10, 2026, with expected listing on July 15, 2026 on BSE and NSE. With allotment scheduled for July 13, investors will track subscription across QIB, NII, and retail categories, and any final employee reservation specifics disclosed during the issue process.