Bookbuilding IPO | ₹650 Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of Kusumgar Ltd. on January 7, 2026. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.
Kusumgar Ltd. IPO is a Book Build Issue of ₹650.00 crores consisting entirely of an offer for sale.
The equity shares are proposed to be listed on NSE and BSE. Axis Capital Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Kusumgar IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | |
| Lot Size | |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹650 Cr) |
| Offer for Sale | [.] shares of ₹1 (agg. up to ₹650 Cr) |
| Share Holding Pre Issue | 10,14,90,000 shares |
| Share Holding Post Issue | 10,14,90,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Sat, Sep 27, 2025 |
| SEBI/Exchange approval received | Wed, Jan 7, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Incorporated in 1990, Kusumgar Ltd is a manufacturer of woven, coated, and laminated synthetic fabrics—known as engineered fabrics. Its products are based mainly on polyamide and polyester filaments, using polyurethane chemistry.
As of March 31, 2025, it has developed over 1,000 unique fabric types (SKUs), building a strong position in the synthetic functional and performance fabric space. Its products serve a wide range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
In recent years, the company has also expanded into finished products for aerospace and military use, such as parachute systems, stealth materials, and rapid deployment systems.
Business segments:
Segment-wise Revenue: In FY 2025, 48.06% of revenue was derived from Aerospace and Defence Fabrics, followed by Aerospace and Defence Solution with 28.81% contribution, Industrial and Automotive Fabrics 14.63%, Outdoor and Lifestyle Fabrics 7.39%, and others contributing 1.11%.
Manufacturing facility: Six manufacturing facilities in Gujarat, India and one fabrication unit in Uttar Pradesh, India.
As of March 31, 2025, it has a total workforce of 1,712 employees with 1,082 permanent employees.
Competitive Strengths
Kusumgar Ltd.'s revenue increased by 67% and profit after tax (PAT) rose by 33% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 632.40 | 584.74 | 253.87 |
| Total Income | 790.21 | 474.55 | 303.72 |
| Profit After Tax | 111.99 | 84.40 | 37.22 |
| EBITDA | 188.39 | 131.85 | 67.86 |
| NET Worth | 257.75 | 140.36 | 55.61 |
| Reserves and Surplus | 247.60 | 138.37 | 53.62 |
| Total Borrowing | 246.50 | 76.53 | 47.50 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Carry out the Offer for Sale of [●] Equity Shares of face value of Rs 1 each, aggregating up to Rs 6,500 million by the Promoter Selling Shareholders | |
| 2 | Achieve the benefits of listing the Equity Shares on the Stock Exchanges |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 56.26% |
| ROCE | 42.89% |
| Debt/Equity | 0.44 |
| RoNW | 56.26% |
| PAT Margin | 14.17% |
| EBITDA Margin | 24.18% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 90.48% |
Kusumgar IPO is a main-board IPO of 0 equity shares of the face value of ₹1 aggregating up to ₹650 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Kusumgar IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Kusumgar IPO using UPI as a payment gateway. Zerodha customers can apply in Kusumgar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kusumgar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kusumgar IPO dates are not announced. Please check back again after some time.
Kusumgar IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Kusumgar IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Kusumgar IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Kusumgar IPO allotment status.
The Kusumgar IPO listing date is not yet announced. The tentative date of listing is .
