Kusumgar
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 14 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 15 Jul 2026 | ₹161 | +38.42% | ₹4,300 | ₹580 | ₹5,635 |
| 14 Jul 2026 | ₹161 | +38.42% | ₹4,300 | ₹580 | ₹5,635 |
| 13 Jul 2026 | ₹161 | +38.42% | ₹4,300 | ₹580 | ₹5,635 |
| 12 Jul 2026 | ₹160 | +38.19% | ₹4,300 | ₹579 | ₹5,600 |
| 11 Jul 2026 | ₹160 | +38.19% | ₹4,300 | ₹579 | ₹5,600 |
| 10 Jul 2026 | ₹165 | +39.38% | ₹4,400 | ₹584 | ₹5,775 |
| 09 Jul 2026 | ₹158 | +37.71% | ₹4,200 | ₹577 | ₹5,530 |
| 08 Jul 2026 | ₹160 | +38.19% | ₹4,300 | ₹579 | ₹5,600 |
| 07 Jul 2026 | ₹168 | +40.10% | ₹4,500 | ₹587 | ₹5,880 |
| 06 Jul 2026 | ₹166 | +39.62% | ₹4,400 | ₹585 | ₹5,810 |
| 05 Jul 2026 | ₹171 | +40.81% | ₹4,500 | ₹590 | ₹5,985 |
| 04 Jul 2026 | ₹165 | +39.38% | ₹4,400 | ₹584 | ₹5,775 |
| 03 Jul 2026 | ₹140 | +33.41% | ₹3,700 | ₹559 | ₹4,900 |
| 02 Jul 2026 | ₹135 | +32.22% | ₹0 | ₹554 | ₹4,725 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 08 Jul 2026 – 10 Jul 2026
- Listing date
- 15 Jul 2026
- Face value
- ₹1 per share
- Price band
- ₹398 – ₹419
- Issue price
- ₹419 per share
- Lot size
- 35 shares
- Sale type
- Offer for sale
- Issue type
- Book Building issue
- Total issue size
- ₹650 Cr
- Fresh issue
- ₹0 Cr 0 shares
- Offer for sale
- ₹650 Cr 1,55,21,350 shares
- Market cap at offer price
- ₹4,399 Cr
- Promoter holding
- 89.44% → 74.72% pre-issue → post-issue
- ISIN
- INE0ISX01025
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- 101, Manjushree, V.M. Road,, Corner of N.S. Road No. 5, JVPD Scheme, Vile Parle (West),, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 46,28,877 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 35 shares per lot, in multiples, at ₹419
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹14,665 |
| Retail (max) | 13 | 455 | ₹1,90,645 |
| S-HNI (min) | 14 | 490 | ₹2,05,310 |
| S-HNI (max) | 68 | 2,380 | ₹9,97,220 |
| B-HNI (min) | 69 | 2,415 | ₹10,11,885 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹419 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.35 | 9.35 |
| P/E (×) | 44.81 | 44.81 |
| Price to book (×) | 8.45 | — |
| Market cap | — | ₹4,399 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 25.82%
- ROCE
- 24.76%
- Debt / equity
- 0.44
- PAT margin
- 13.80%
- EBITDA margin
- 27.15%
- NAV per share
- ₹49.56
- Price to book
- 8.45
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Selling shareholders
Existing holders selling into the offer — these proceeds go to the seller, not to the company
| Seller | Capacity | Shares offered | Avg. cost |
|---|---|---|---|
| Siddharth Yogesh Kusumgar | Promoter Selling Shareholder | not yet stated | ₹0 |
| Sapna Siddharth Kusumgar | Promoter Selling Shareholder | not yet stated | ₹0 |
| Siddharth Yogesh Kusumgar HUF | Promoter Selling Shareholder | not yet stated | ₹0 |
About Kusumgar
Kusumgar Limited (formerly known as Kusumgar Private Limited), headquartered in Vile Parle (West), Mumbai, manufactures engineered woven, coated and laminated synthetic fabrics and finished products, having built over 1,000 unique fabric configurations (SKUs) as at March 31, 2026 around synthetic functional and performance fabrics. It operates six manufacturing facilities, all in Gujarat, and one fabrication unit in Uttar Pradesh, with vertically integrated capabilities across preparatory, weaving, dyeing, printing, finishing, coating, lamination and fabrication. The company serves four primary market segments — Aerospace and Defence Fabrics, Aerospace and Defence Solutions, Industrial and Automotive Fabrics, and Outdoor and Lifestyle Fabrics — selling primarily to business customers that use its fabrics in their own manufacturing, while selectively marketing its own finished aerospace and defence products (parachute systems, camouflage nets, decoys and shelters) to governments including the Indian government; global brands such as Decathlon (via its fabricators) nominate Kusumgar as a fabric supplier. Revenue from contracts with customers was ₹6,748.14 million in Fiscal 2026 (60.01% within India, 39.99% outside India), with the top five customers contributing 45.38%. The upcoming IPO is purely an offer for sale of up to ₹6,500 million of equity shares of face value ₹1 each by promoter selling shareholders, proposed to be listed on BSE and NSE.
Company Analysis
from RHPKusumgar Limited manufactures engineered woven, coated and laminated synthetic fabrics and finished products such as parachute systems, camouflage nets, decoys and shelters, serving the aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
Kusumgar Limited (formerly known as Kusumgar Private Limited), headquartered in Vile Parle (West), Mumbai, manufactures engineered woven, coated and laminated synthetic fabrics and finished products, having built over 1,000 unique fabric configurations (SKUs) as at March 31, 2026 around synthetic functional and performance fabrics. It operates six manufacturing facilities, all in Gujarat, and one fabrication unit in Uttar Pradesh, with vertically integrated capabilities across preparatory, weaving, dyeing, printing, finishing, coating, lamination and fabrication. The company serves four primary market segments — Aerospace and Defence Fabrics, Aerospace and Defence Solutions, Industrial and Automotive Fabrics, and Outdoor and Lifestyle Fabrics — selling primarily to business customers that use its fabrics in their own manufacturing, while selectively marketing its own finished aerospace and defence products (parachute systems, camouflage nets, decoys and shelters) to governments including the Indian government; global brands such as Decathlon (via its fabricators) nominate Kusumgar as a fabric supplier. Revenue from contracts with customers was ₹6,748.14 million in Fiscal 2026 (60.01% within India, 39.99% outside India), with the top five customers contributing 45.38%. The upcoming IPO is purely an offer for sale of up to ₹6,500 million of equity shares of face value ₹1 each by promoter selling shareholders, proposed to be listed on BSE and NSE.
Objects of the Issue
- Carry out the Offer for Sale of Equity Shares by the Promoter Selling Shareholders Up to ₹6,500.00 million p.7
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges p.7
Issue Structure
- Total Issue
- Up to [●] Equity Shares of face value of ₹1 each aggregating up to ₹6,500 million
- Fresh Issue
- Not applicable
- Offer for Sale
- Up to [●] Equity Shares of face value of ₹1 each aggregating up to ₹6,500 million
- Face Value
- ₹1
Business Model
Earns revenue from contracts with customers by manufacturing and selling engineered synthetic fabrics and finished aerospace and defence products (aerial systems such as parachute systems, stealth systems such as camouflage nets, and rapid deployment systems such as decoys and shelters) across four market segments, primarily to business customers and governments including the Indian government, supplemented by maintenance and repair service agreements with certain clients and by other sales comprising yarn, chemicals and job work.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Siddharth Yogesh Kusumgar | Promoter / Promoter Selling Shareholder | 58.71% | — |
| Sapna Siddharth Kusumgar | Promoter / Promoter Selling Shareholder | 28.05% | — |
| Siddharth Yogesh Kusumgar HUF | Promoter / Promoter Selling Shareholder | 3.31% | — |
| Yogesh Kantilal Kusumgar | Promoter | 0.05% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.