Kusumgar Limited has opened its initial public offering for subscription in July 2026. Kusumgar IPO is a textile-sector issue with exposure to aerospace, defence, industrial, automotive, outdoor and lifestyle fabric applications.
The IPO is structured entirely as an Offer for Sale (OFS), which means the company will not receive fresh capital from the issue. The proceeds, after applicable offer expenses, will go to the selling promoter group members.
IPO Details & Timeline
The public issue opened for bidding on Wednesday, July 8, 2026, and is scheduled to close on Friday, July 10, 2026.
| Bid opens | Wednesday, July 8, 2026 |
| Bid closes | Friday, July 10, 2026 |
| Price band | ₹398 to ₹419 per equity share |
| Lot size | 35 shares |
| Minimum Investment | ₹14,665 at the upper price band |
| Issue size | ₹650.00 crore (entirely an OFS of 1,55,13,126 shares) |
| Listing | Proposed listing on BSE and NSE |
| Tentative schedule | Allotment on July 13, 2026; listing on July 15, 2026 |
About the Company
Kusumgar Limited, formerly known as Kusumgar Private Limited, was incorporated in 1990. The company operates in the engineered, woven, coated and laminated synthetic textiles industry, with products used across specialised and commercial applications.
Its business is organised across four primary market segments:
- Aerospace and Defence Fabrics: Specialised technical textiles designed for mission-critical defensive infrastructure requirements.
- Aerospace and Defence Solutions: Structural system builds such as Combat Free Fall parachute systems, stealth technologies and rapid deployment systems.
- Industrial and Automotive Fabrics: Technical textiles customised for automotive and industrial environments.
- Outdoor and Lifestyle Fabrics: Fabrics for commercial sportswear and athletic applications, including supply to fabricators for global brands such as Decathlon.
The company has a geographically concentrated manufacturing base, with all six manufacturing facilities located in Gujarat, India. This concentration is relevant for investors assessing operational dependencies and location-linked risks.
Financial Snapshot
For FY26, Kusumgar reported revenue from operations of ₹692.03 crore, compared with ₹467.91 crore in FY24. Profit after tax stood at ₹98.20 crore for FY26, while EBITDA was ₹187.85 crore. At the upper price band of ₹419, the issue is valued at a price-to-earnings multiple of 44.8x based on FY26 earnings.
The segment-wise revenue mix shows a change in contribution over the last three financial years. Aerospace and defence fabrics remained a large contributor, though its share reduced from 68.79% in Fiscal 2024 to 31.67% in Fiscal 2026. Outdoor and lifestyle fabrics increased its contribution from 6.40% in Fiscal 2024 to 18.57% in Fiscal 2026.
Objects of Issue
The finalized offering is a 100% Offer for Sale aggregating to ₹650.00 crore. The offer comprises 1,55,13,126 equity shares being sold by the promoter selling shareholders.
The selling shareholders include Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar and Siddharth Yogesh Kusumgar HUF. The final sale proceeds, after direct merchant banking and issue-related expenses, will flow to the respective promoter group members in proportion to the equity shares sold by them.
Since there is no fresh issue component, Kusumgar Limited will not receive any fresh operational funding from the IPO. Investors evaluating the issue should distinguish between an ownership sale by existing shareholders and a fresh capital raise for business use.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should conduct their own due diligence and consult with a financial advisor before making any investment decisions.
