KUSUMGAR LTD IPO: Company Review, Subscription and Allotment Updates

2026-07-07 — Company overview and issue details

KUSUMGAR LTD IPO (ABOUT THE COMPANY)

KUSUMGAR LTD – COMPANY BACKGROUND

Kusumgar Ltd manufactures engineered fabrics, referred to in business parlance as technical textiles. These engineered fabrics are based on polyamide and polyester filaments. The process uses polyurethane chemistry. Some of its biggest user industries include aerospace & defence fabrics, aerospace & defence applications, industrial & automotive fabrics, and outdoor / lifestyle fabrics. This is considered to be a high entry barrier industry and that remains the company’s moat. It has a long-standing relationship with its customers and bulk of their business is in the form of repeat business.

Kusumgar Ltd has been promoted by Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF. The IPO comprises entirely of an offer for sale (OFS) by the promoter group. The issue is being lead-managed by Axis Capital, IIFL Capital, and Motilal Oswal Investment Banking; while Bigshare Services Private Ltd are the registrars to the IPO.

HIGHLIGHTS OF THE IPO ISSUE OF KUSUMGAR LTD

Here are the key highlights of the public issue of Kusumgar Ltd.

The IPO is open from July 08th, 2026 to July 10th, 2026. It has a face value of ₹1 per share and the IPO price band has been fixed in the range of ₹398 to ₹419 per share.

The IPO of Kusumgar Ltd will be entirely an offer for sale (OFS) by the promoters, with no fresh issue component in the IPO.

The offer for sale (OFS) portion comprises the sale of 1,60,96,971 shares (160.97 lakh shares), which at the upper price band of ₹419 per share translates into an OFS size of ₹674.08 crore. This is after factoring in a discount of ₹39 per share to employees.

Therefore, the overall IPO issue will also comprise purely of an OFS of 1,60,96,971 shares (160.97 lakh shares), which at the upper price band of ₹419 per share translates into overall issue size of ₹674.08 crore.

Due to the dilutive impact of the offer for sale (OFS), promoter’s stake in the company will get reduced from 90.48% to 74.91% of the total shares outstanding post the IPO.

The IPO of Kusumgar Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on July 07, 2026.

KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES

Here are the key dates pertaining to the IPO of Kusumgar Ltd

Data Source: Company RHP

Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).

The table below captures the gist of the allocation to various categories.

Data Source: Security Parameters Filing (NSE)

The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.

Here is a quick look at the lot sizes applicable for the IPO of Kusumgar Ltd for various categories of investors.

It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 35 shares)

FINANCIAL HIGHLIGHTS OF KUSUMGAR LTD

The table captures the key financials of Kusumgar Ltd for last 3 financial years.

Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)

The net profit margins have shown a falling trend; tapering from 18.04% to 14.19% between FY24 and FY26. The return on equity (ROE) has been quit erratic over the last 3 years, while the EBITDA margins (operating profits) have also been healthy at around 27%.

VALUATION METRICS OF KUSUMGAR LTD IPO

If one looks at the valuation of the company based on the latest FY26 full-year EPS of ₹9.31, it is trading at around 45.0X earnings at the upper band IPO price of ₹419 per share. That is par for the course, since technical textiles tend to command slightly premium valuations in the market due to their moat and unique positioning catering to higher value industries.

The company does bring some strengths to the table like a deep moat in the market, strong technical capabilities, multiple market visibility, and long-standing relationships with established customers. It does offer an opportunity to investors to get into a technical textiles stock with a strong demand visibility. Investors can consider the stock for long-term.

2026-07-07 — Anchor allocation

KUSUMGAR LTD IPO (ANCHOR ALLOCATION 28.76%)

BRIEF ON ANCHOR ALLOCATION OF KUSUMGAR LTD

The anchor issue of Kusumgar Ltd saw a strong response on 07th July 2026 with 28.76% of the IPO size absorbed by anchors. Out of 1,60,96,971 shares (160.97 lakh shares) on offer in the IPO, anchors picked up 46,28,877 shares (46.29 lakh shares) accounting for 28.76% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹419 per share. This includes the face value of ₹1 per share plus a share premium of ₹418 per share. The anchor bidding opened and closed on 07th July 2026.

KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS

Here are the key details pertaining to the anchor bidding of Kusumgar Ltd

An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.

MAJOR ANCHOR ALLOCATION INVESTORS IN KUSUMGAR LTD

On 07th July 2026, Kusumgar Ltd allotted 46,28,877 shares to a total of 23 anchor investors. The allocation was done at the upper IPO price band of ₹419 per share which resulted in overall anchor allocation of ₹193.95 crore. The anchors have already absorbed 28.76% of the total issue size of ₹674.08 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹132.11 crores, or, 68.12% of the overall anchor allocation of shares, one trading day ahead of the IPO of Kusumgar Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted, and captured in the table below.

Data Source: BSE Filings (Value Allocated is ₹ in Crore)

The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.

https://www.bseindia.com/downloads/UploadDocs/Notices/Attach/Kusumgar_Ltd_Anchor_Intimation_Letter$2d556423-faa9-4f48-99a4-07705654c76e.pdf

Out of the 46,28,877 shares allocated to the anchors in the IPO, there was an allocation of 31,26,805 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual fund was spread across 18 MF schemes of 9 asset management companies (AMCs). Mutual funds accounted for 67.55% of the overall anchor allocation.

Out of the 46,28,877 shares allocated to the anchors in the IPO, there was also an allocation of 3,08,747 shares made to Life Insurance Companies regulated by IRDAI. This anchor allocation to Life insurers was spread across 2 life insurance companies. Life Insurance companies accounted for 6.67% of the overall anchor allocation.

The anchor allocation was spread across domestic mutual funds, life Insurers, FPIs, and AIFs.

NEXT STEPS IN KUSUMGAR LTD IPO

Post the closure of the IPO subscription on 10th July 2026, the basis of allotment will be finalized on 13th July 2026 and the refunds will be initiated on 14th July 2026. In addition, the demat credits are expected to also happen on 14th July 2026 and the stock will list on 15th July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th July 2026 under ISIN (INE0ISX01025).

2026-07-11 — Day-3 subscription update

Kusumgar Ltd (Day-3 Final Subscription at 128.85 times)

KUSUMGAR LTD - IPO SUBSCRIPTION STATUS ON DAY-3

As of 7.15 pm on 10th July 2026, out of the 114.68 lakh shares on offer in the IPO (excluding anchor portion), Kusumgar Ltd saw bids for 14,776.17 lakh shares. This implies an overall subscription of 128.85X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Kusumgar Ltd was as under:

The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 28.76% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.

Data Source: NSE / BSE (as of close of Day-3 of the IPO)

The IPO of Kusumgar Ltd was open up to July 10, 2026, and has closed for subscription as of the close of trading hours on July 10, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹62,106 crore.

NEXT STEPS IN THE KUSUMGAR LTD IPO

Post the closure of the IPO subscription on 10th July 2026, the basis of allotment will be finalized on 13th July 2026 and the refunds will be initiated on 14th July 2026. In addition, the demat credits are expected to also happen on 14th July 2026 and the stock will list on 15th July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th July 2026 under ISIN (INE0ISX01025).

2026-07-11 — Allotment guidance and next steps

Kusumgar Ltd IPO (How to check allotment status)

ABOUT THE KUSUMGAR LTD IPO

The IPO of Kusumgar Ltd opened for subscription on July 08th, 2026 and closed on July 10th, 2026. The overall IPO comprised entirely of an offer for sale (OFS) of 1,60,96,971 shares (160.97 lakh shares) worth ₹674.08 crore at the upper band price of ₹419 per share. The allotment status will be finalized by end of day (EOD) of July 13th, 2025. Here is how to check your allotment status for the IPO of Kusumgar Ltd. You can check IPO status on BSE or NSE or IPO Registrar (Bigshare Services Private Ltd) website.

CHECKING ALLOTMENT STATUS OF KUSUMGAR LTD IPO ON BSE WEBSITE

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

Under Issue Type – Select Equity Option

Under Issue Name – Select Kusumgar Ltd from the drop-down box

Enter the Application Number / CAF exactly as in the acknowledgement slip or

Enter your PAN (10-digit alphanumeric) number

Once this is done, you need to click on the Captcha to verify you are not a robot

Finally click on the Search Button

You can use either of the parameters to query; Application / CAF number or Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Kusumgar Ltd allotted into your demat account. You can save a screenshot of the allotment status output for verifying with demat account credits.

CHECKING ALLOTMENT STATUS OF KUSUMGAR LTD IPO ON NSE WEBSITE

This is a common link for all IPOs. Click on NSE link for IPO allotment as below.

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Once you reach the page, here are the steps to follow.

Under Issue Type – Select Equity & SME IPO Details Option

Under SELECT SYMBOL – Select KUSUMGAR from the drop-down box

Enter the Application Number / CAF exactly as in the acknowledgement slip and

Enter your PAN (10-digit alphanumeric) number

Once both are entered, click on the Submit Button

You must input both data points; the Application / CAF number and the Investor PAN.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Kusumgar Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.

CHECKING ALLOTMENT STATUS OF KUSUMGAR LTD ON BIGSHARE SERVICES PRIVATE LIMITED (REGISTRAR TO THE IPO)

Here are the steps to follow. Visit the Bigshare Services Private Ltd registrar website for IPO status by clicking on the link below:

https://ipo.bigshareonline.com/IPO_Status.html

Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are server backups in case one server is experiencing too much traffic, you can select another server and try again. There will be no output difference, whichever server you select.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Kusumgar Ltd from the dropdown box. Once the company is selected from the dropdown box, you have 3 methods to check allotment status for the IPO.

Firstly, you can access with Application Number / CAF Number. Enter the Application / CAF number, enter the captcha, and then click on the search button.

Secondly, you can search by Beneficiary ID of your demat account. Remember that the NSDL string is alphanumeric while the CDSL string is numeric. Write it in once single string in the box. Then enter the captcha and press the search button.

Thirdly, you can search by Income Tax PAN number. Once you select PAN from the dropdown menu, enter your 10-digit PAN number, enter the captcha code and then, click on the Search Button.

The IPO status with number of shares of Kusumgar Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference

In case, you have any issues with the output, register an investor query with Bigshare Services India Private Ltd. You can either send an email with all requisite details and problem to info@bigshareonline.com or you can call on (+91)-22-6263-8200 for voice call.

NEXT STEPS IN THE KUSUMGAR LTD IPO

Post the closure of the IPO subscription on 10th July 2026, the basis of allotment will be finalized on 13th July 2026 and the refunds will be initiated on 14th July 2026. In addition, the demat credits are expected to also happen on 14th July 2026 and the stock will list on 15th July 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 14th July 2026 under ISIN (INE0ISX01025).

Interested in applying for this IPO?

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