Kusumgar's Rs 650-crore IPO opens tomorrow; GMP signals nearly 40% listing gain

Kusumgar, an engineered synthetic fabrics manufacturer, is set to open its Rs 650-crore IPO on July 8, 2026, with a price band of Rs 398-419 per share. The issue is entirely an Offer for Sale, so the company will not receive any proceeds. Grey Market Premium of around Rs 166 per share signals a potential listing gain of nearly 40 percent, with the stock expected to debut at about Rs 585. 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 in FY24 respectively.