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

Mumbai: The Initial Public Offering of Kusumgar Limited was subscribed 3.45 times on the first day of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.

The issue received bids of 3,95,95,045 equity shares against the offered 1,14,68,094 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 3.52 times and 7.35 times respectively. Qualified Institutional Buyers (QIB) Portion was subscribed 0.47 times. Whereas the Employee Reserved portion is subscribed 1.69 times.

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

A day before the opening of the issue, Kusumgar Limited had raised Rs 193.9 crore from anchor investors.

Brokerage houses recommend Kusumgar IPO

Leading brokerage firms like BP Wealth, ICICI Direct, SBI Securities and SMIFS 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.