Kusumgar IPO Subscribed Over 13 Times on Day 2

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Jul 09, 2026 18:20

Kusumgar Ltd''s Rs 650-crore IPO, for engineered fabrics, was subscribed 13.13 times on its second day. Retail, non-institutional, and QIB categories saw strong bidding.

Kusumgar IPO Subscribed Over 13 Times on Day 2

Illustration: Dominic Xavier/Rediff.com

New Delhi, Jul 9 (PTI) The initial public offering of engineered fabric manufacturer Kusumgar Ltd received 13.13 times subscription on the second day of bidding on Thursday.

The company's Rs 650-crore IPO got bids for 15,05,57,085 shares against 1,14,68,094 shares on offer, as per data available with the NSE.

Among investors, the category for non-institutional investors fetched 36.64 times subscription. The portion meant for retail investors received 9.46 times subscription, while the category for qualified institutional buyers (QIBs) got subscribed 2.18 times.

The IPO price band has been fixed at Rs 398 to Rs 419 per share.

The IPO of Kusumgar Ltd was fully subscribed on the first day of bidding on Thursday. The IPO is entirely an offer-for-sale (OFS). Since the issue is an OFS, the Mumbai-based firm will not receive any proceeds and the funds will go entirely to the selling shareholders.

Kusumgar Ltd has garnered Rs 193.9 crore from anchor investors.

The company's public offer will conclude on Friday.

Founded in 1990, Kusumgar Ltd manufactures woven, coated and laminated synthetic fabrics, known as engineered fabrics. The company primarily produces aerospace and defence fabrics, industrial and automotive fabrics, and outdoor and lifestyle fabrics.

Axis Capital, IIFL Capital Services, and Motilal Oswal Investment Advisors are the book-running lead managers to the IPO.

Source: PTI By Rediff Money Desk, New Delhi

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