Kusumgar Ltd (MAINBOARD)

Incorporated in 1990, Kusumgar Limited is an established player in the technical textiles sector, specializing in the manufacture of engineered synthetic fabrics. The company offers specialized woven, coated, and laminated technical textiles built around polyamide, polyester, and polyurethane chemistry. It serves demanding environments across aerospace, defence, industrial, automotive, and outdoor lifestyle markets.

Business Verticals

• Aerospace and Defence Fabrics & Solutions: Producing high-performance materials for military and aviation setups, expanding into finished tactical systems such as parachute rigs and stealth solutions.

• Industrial, Automotive & Lifestyle Textiles: Supplying functional fabrics for automotive interiors, mechanical goods, weather-resistant outdoor gear, and luggage.

Track Record

• Financial Scale: Total operational revenue stood at ₹467.91 Cr in FY24, scaled up to ₹788.99 Cr in FY25, and recorded ₹692.03 Cr for the fiscal year ended March 31, 2026.

• Profitability: Net profit (PAT) registered consistent margins, moving from ₹84.39 Cr in FY24 to ₹111.98 Cr in FY25, and logging ₹98.20 Cr for FY26.

• Production Footprint: Operates a vertically integrated setup across six processing facilities located in Gujarat, enabling them to execute full value-chain handling in-house.

Kusumgar Ltd IPO GMP

As of July 02, 2026, the Grey Market Premium (GMP) is trading around ₹123.

Note: Reflecting an organic premium of ~29.4% before its official launch next week, early grey market demand signals a tentative initial listing price of around ₹542 against the upper issue price cap of ₹419.

Kusumgar Ltd IPO Allotment Status

The allotment is scheduled to be finalized on July 13, 2026.

Check Kusumgar Allotment Status

To check your status online, visit the official exchange tracking portals or check the updates via the assigned registrar's allocation platform once active.

You can verify your status via:

• BSE and NSE official mainboard tracking portals

• Authorized Registrar's tracking website (Bigshare Services Private Limited)

• Using your PAN number, Application ID, or DP ID/Client ID

Strengths

• High Technical Entry Barriers: Demands specialized military-grade certifications, long customer qualification cycles, and custom technical chemistry, shielding the firm from easy competition.

• In-House Integrated Logistics: Full-cycle execution from yarn processing and custom weaving to specialty PTFE/silicone coatings optimizes delivery pipelines.

• Diverse Global Reach: Balances a broad cross-sector domestic clientele while sourcing approximately a quarter of its top-line earnings through international trade networks.

Weaknesses

• Concentrated Manufacturing Core: All six industrial manufacturing centers are situated in Gujarat, exposing production workflows to localized regional disruptions.

• No Capital for Business Expansion: Since the entire issue is a 100% Offer for Sale (OFS), all collected funds go entirely to the selling promoters. The company will not receive any fresh cash injection.

• Client Dependencies: Highly vulnerable to sudden fiscal allocation budget cycles in public defence agencies, with its top 10 core customers contributing 59.52% of FY26 revenues.

How the Company Will Use IPO Money

Because the issue consists entirely of an Offer for Sale (OFS), Kusumgar Limited will not receive any financial proceeds from the public launch. All of the raised capital goes directly to the selling promoters. However, the listing will establish public market equity liquidity, satisfy listing compliance guidelines, and enhance overall corporate brand visibility.

Lead Manager & Registrar

• Book Running Lead Managers: Axis Capital Limited, IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited

• Registrar: Bigshare Services Private Limited