Kusumgar IPO Listing - Premium of 35.80% (₹569) on NSE & 36.99% (₹574) on BSE
Key takeaways:
- Kusumgar Limited was listed at around ₹569 on the NSE and at ₹574 on the BSE, offering investors a robust listing premium of ~37%.
- Kusumgar IPO subscription window was opened on July 8 2026, and closed on July 10 2026.
- The ₹650.36 crore issue was oversubscribed 135.80 times, and there was strong bidding among investors across all categories.
- The company has a strong domestic presence with majority of its revenues coming from India and has a wide range of product portfolio of high-entry-barrier products like aerospace parachutes and tactical clothing.
- Kusumgar had a robust financial performance in the pre-IPO period, reporting a total income of ₹711.78 crore and Profit After Tax (PAT) of ₹98.20 crore in FY26 results.
The Mumbai-based company officially went public by listing its equity shares on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The initial public offering (IPO) of ₹650.36 crore was a 100% Offer for Sale (OFS) to enable the selling shareholders to exit the company. The IPO opened at a massive 35.80% premium on the NSE, listing at ₹569 per share, while on the BSE it listed at ₹574 with a 36.99% premium, well above the upper price band of ₹419 per share, delivering a stellar opening premium to its investors.
Here, we will delve into the Kusumgar IPO listing performance, its market fundamentals, and the journey to its stellar listing.
Kusumgar IPO Listing Performance
The Kusumgar stocks were listed on Indian exchanges on July 15, 2026. The listing price was ₹569, at an impressive 35.80% premium on the NSE, and at ₹574, with a 36.99% premium on the BSE, from the issue price of ₹419. After the listing, the stocks maintained their robust performance, signifying investor confidence in its vertically integrated business model.
This positive listing of the Kusumgar IPO was in line with its grey market premium (GMP) of ₹165-161 per share before the listing day. The company's valuation, its wide product portfolio, and sustained institutional demand are the factors that have led to the massive subscription numbers and a favourable stock market listing.
About Kusumgar Limited
Kusumgar Limited was incorporated in 1990 and is a specialist manufacturer of woven, coated and laminated synthetic fabrics. The company serves high-performance, high-entry barrier businesses such as Aerospace and Defence Fabrics, Industrial and Automotive Fabrics and Outdoor and Lifestyle Fabrics.
The company operates a highly efficient, vertically integrated manufacturing model across six manufacturing facilities located in Gujarat. It also has one fabrication unit in Uttar Pradesh. These facilities range from the selection of yarns to weaving, to the advanced polyurethane chemistry coatings and lamination.
On the financial front, Kusumgar Limited has posted strong financial figures in FY26 with total income of ₹711.78 crore, EBITDA of ₹187.85 crore (27.15% margin) and PAT of ₹98.20 crore, highlighting its profitable journey as an entity in the technical textiles industry.
Kusumgar IPO Journey
The Kusumgar IPO subscription window was opened on July 8, 2026, and closed on July 10, 2026. The company has priced its shares in the range of ₹398 to ₹419 per equity share, and the minimum retail lot size is 35 shares. No fresh capital was raised by the company for operations or expansions, and the IPO is a 100% OFS-structured.
The IPO received an overall subscription of 135.80 times. Retail investors showed immense enthusiasm and oversubscribed their quota by 27.97 times. The Non-Institutional Investors (NII) category subscribed 174.28 times while Qualified Institutional Buyers (QIBs) anchored the issue with a subscription of 299.51 times. This IPO also had an employee quota, which was subscribed 11.09 times.
Wrap up
The stellar listing of Kusumgar Limited highlights the high demand and popularity of specialised technical textiles and the defence manufacturing sector among investors in India. The listing premium of ~37% represents a successful debut of Kusumgar on the Indian exchanges, driven by its wide product portfolio, high EBITDA margins, and its strong presence in the aerospace and defence supply chains.
It is an attractive investment opportunity for long-term wealth creation for investors. But going ahead, the company's ability to overcome the operational risks in Gujarat, manage its export dynamics and continue securing government defence contracts will be the key factors to its stock market success.
