Kusumgar IPO Day 3: GMP soars 38%, Rs 650-crore issue attracts strong investor demand

The Kusumgar IPO, an entirely Offer for Sale of Rs 650 crore at a price band of Rs 398-419 per share, witnessed strong demand with overall subscription reaching 13.13 times by Day 2, led by NIIs at 36.64 times and retail at 9.47 times. The grey market premium stands at Rs 158, indicating an estimated listing price around Rs 577. The company posted FY26 revenue of Rs 692 crore and net profit of Rs 98.2 crore, with allotment on July 13, 2026 and listing on July 15, 2026.