Issue closes on Friday, July 10, 2026, for bidding

Mumbai: The Initial Public Offering of Kusumgar Limited was subscribed 13.13 times on the second day of bidding, demonstrating strong demand from retail, non-institutional investors, and qualified institutional buyers (QIB) for this IPO.

The issue received bids of 15,05,57,155 equity shares against the offered 1,14,68,094 equity shares, according to data available on the stock exchanges.

The Non-Institutional Portion and Retail Portion were subscribed 36.64 times and 9.47 times, respectively. The Qualified Institutional Investors (QIB) portion was subscribed 2.18 times, while the Employee Reserved Quota was subscribed 3.86 times on the second day.

The issue kicked off for subscription on Wednesday, July 08, 2026, and will close for subscription on Friday, July 10, 2026.

Leading brokerage firms like ICICI Direct, SBI Securities, Anand Rathi, Nirmal Bang, Geojit Financial Services, Arihant Capital, BP Wealth, SMIFS, Ventura Securities, and Stoxbox have given their “Subscribe” recommendation to Kusumgar Limited, which is a manufacturer of woven, coated and laminated synthetic fabrics, referred to as engineered fabrics. The company offers engineered fabrics and solutions focusing on polyamides and polyester filaments and polyurethane chemistry that cater to the high-performance requirements of its customers.

ICICI Direct expects Kusumgar Ltd. to benefit from India’s push for indigenous defence manufacturing, supporting steady aerospace and defence orders, and assigns a “Subscribe” rating from a long-term perspective despite its 45x FY26 P/E valuation.

SBI Securities also recommends “Subscribe”, citing high industry entry barriers, strong technical expertise, customized solutions and superior margins, while considering the FY26 P/E of 44.8x justified by the company’s higher growth potential.