Kusumgar's Rs 650-crore IPO opens today; grey market points to nearly 40% listing gain

Kusumgar's Rs 650 crore IPO opens today with a Grey Market Premium of about Rs 166 per share, signalling an expected listing price of around Rs 585 and a potential nearly 40% gain over the upper price band of Rs 419. The issue is entirely an Offer for Sale with no fresh equity, open for subscription from July 8 to July 10, 2026. The company posted revenue of Rs 692 crore and net profit of Rs 98.2 crore in FY26, up from Rs 467.9 crore and Rs 84.3 crore respectively in FY24.