Final hours! Kusumgar IPO ends today; check latest subscritpion, GMP trends
Kusumgar IPO: Check price band, lot size, latest GMP, subscription data, reviews, allotmnet date, listing date, and other key details
 "Final hours! Kusumgar IPO ends today; check latest subscritpion, GMP trends")
The three-day initial public offering (IPO) of fabric maker Kusumgar closes for subscription on Friday, July 10, after attracting robust investor interest across categories. The ₹650-crore public issue, which is entirely an offer for sale (OFS), was subscribed 18.13 times as of 10:21 AM on the final day of bidding.
NIIs lead demand, retail follows
According to NSE data, the issue received bids for 20,79,15,645 shares against the 1,14,68,094 shares on offer. Demand was led by non-institutional investors (NIIs), whose reserved portion was subscribed 55.77 times. The retail individual investors (RIIs) portion was subscribed 11.33 times, while the qualified institutional buyers (QIBs) quota was subscribed 2.21 times.
GMP holds firm
Grey market sentiment also remained buoyant. According to sources tracking unofficial market activity, Kusumgar's unlisted shares were changing hands at ₹577, implying a grey market premium (GMP) of ₹158 per share, or 37.71 per cent over the upper end of the issue price.
Brokerages remain divided
Brokerages, however, remain divided on the issue. SBI Securities has recommended investors subscribe to the IPO from a long-term perspective, while Swastika Investmart has maintained a 'Neutral' rating. READ MORE
Investors can bid for a minimum of 35 shares and in multiples thereof. At the upper end of the price band, a retail investor needs to invest ₹14,665 for one lot. The maximum permissible retail application of 13 lots, or 455 shares, requires an investment of ₹1,90,645.
Allotment, listing timeline
With the issue closing on Friday, the basis of allotment is expected to be finalised on Monday, July 13, 2026. Shares are likely to be credited to successful applicants' demat accounts on Tuesday, July 14, while the stock is tentatively scheduled to debut on the bourses on Wednesday, July 15.
Use of proceeds
As the IPO is entirely an offer for sale, Kusumgar will not receive any proceeds from the issue.
"Our Company will not receive any proceeds from the Offer (the 'Offer Proceeds') and all the Offer Proceeds will be received by the Promoter Selling Shareholders after deduction of their respective portion of the Offer-related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholders," the company said in its red herring prospectus (RHP).