IPO Snapshot
Key metrics and details at a glance.
Price Band
₹419
Per ShareLot Size
35 Shares
Minimum Investment
₹14,665
Issue Size
₹650 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Kusumgar Ltd
Business model, operations, and market positioning.
About the Company
The Company is a manufacturer of woven, coated and laminated synthetic fabrics, referred to as engineered fabrics. It offers engineered fabrics and solutions focusing on polyamides and polyester filaments and polyurethane chemistry that cater to the high-performance requirements of its customers. Its expertise is manufacturing fabrics where critical performance parameters include tensile strength, tear strength, abrasion resistance, comfort, airpermeability, and water proofing, among others. It has leveraged its process knowledge and product development expertise to manufacture over 1,000 unique fabric configurations (referred to as stock keeping units, or "SKUs") as at March 31, 2026, to build a niche around synthetic functional and performance fabrics, addressing growing demand in the aerospace and defence, industrial and automotive, and outdoor and lifestyle segments.
Company History
The Company was originally incorporated as "Kusumgar Finstocks Private Limited" as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated June 15, 1990, issued by the Registrar of Companies, Maharashtra at Mumbai. The name of the Company was changed to "Kusumgar Corporates Private Limited" on account of takeover of proprietary concern of Kusumgar Corporates, pursuant to a resolution passed by its Board on August 5, 2008 and a special resolution passed by its Shareholders on September 12, 2008, and a fresh certificate of incorporation, consequent upon change of name was issued to the Company by the Registrar of Companies, Maharashtra at Mumbai, on November 21, 2008. Further, the name of the Company was changed to "Kusumgar Private Limited" on account of expansion of business, pursuant to a special resolution passed in the extraordinary general meeting of its Shareholders on February 8, 2024, and a fresh certificate of incorporation was issued to the Company by the Registrar of Companies, Central Processing Centre, Manesar on March 28, 2024 pursuant to change of name. Thereafter, the Company was converted into a public limited company pursuant to a special resolution dated December 27, 2024, passed in the extraordinary general meeting of its Shareholders, and consequently the name of the Company was changed to its present name i.e., "Kusumgar Limited" and a fresh certificate of incorporation dated January 28, 2025 was issued by the Registrar of Companies, Central Processing Centre, Manesar upon conversion to public company.
Products & Services
- The Company is a manufacturer of woven, coated and laminated synthetic fabrics, referred to as engineered fabrics.
Growth Strategy
- Continue to follow a "build, retain, extend" framework with respect to its aerospace and defence business.
- Continue to work closely with global brands to grow its Outdoor and Lifestyle Fabrics business.
- Steadily grow its Industrial and Automotive Fabrics business by increasing wallet share and providing customized solutions.
- Continue to focus on manufacturing products and solutions with high gross margins and high entry barriers to continue to drive profitable growth.
- Continue to invest in its capabilities and people to support growth, research and development, and efficiency improvement.
Customer Base
Wholesaler and Retailer
Promoter Holding (Pre-Issue)
90.12%
Promoter Holding (Post-Issue)
65.95%
Issue Type
Book Building
ISIN
INE0ISX01025
Financial Performance
Revenue, profit, and asset growth over the last three financial years.
Data presented in crores for FY20 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of up to 1,55,13,126 equity shares of face value of Rs. 1 each ("Equity Shares") of Kusumgar Limited (Formerly Known As Kusumgar Private Limited) ("Company" or "Issuer") for cash at a price of Rs. 419 per equity share (Including A Premium of Rs. 418 Per Equity Share) ("Offer Price") aggregating up to Rs. 650 Crore ("Offer") comprising an offer for sale of up to 10,023,866 equity shares ("Offered Shares") aggregating up to Rs. 420 Crore by Siddharth Yogesh Kusumgar, up to 4,773,269 equity shares aggregating up to Rs. 200 Crore by Sapna Siddharth Kusumgar and up to 715,990 equity shares aggregating up to Rs. 30 Crore by Siddharth Yogesh Kusumgar Huf (the "Promoter Selling Shareholders", and such offer for sale by the promoter selling shareholders, the "Offer For Sale"). This offer includes a reservation of up to 83,532 equity shares aggregating up to Rs. 3.5 Crore (Constituting Up To [*]% Of The Post-Offer Paid-Up Equity Share Capital Of The Company) for subscription by eligible employees (the "Employee Reservation Portion"). The company, in consultation with the book running lead managers, may offer a discount of up to [*] % (Equivalent Of Rs.[*] Per Equity Share) to the offer price to eligible employees bidding under the employee reservation portion ("Employee Discount"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute [*]% and [*]%, respectively, of the post-offer paid-up equity share capital of the company. Price Band: Rs. 419/- per equity share of face value of Rs. 1 each. The floor price is 419 times of the face value. Bids can made for a minimum of 35 equity shares and in multiples of 35 equity shares thereafter. A discount of Rs. 39 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
- The Company operates in markets with high entry barriers.
- Its technical capabilities allow it to develop and supply unique solutions for its customers.
- The Company has a diversified presence across multiple end-use segments, each of which has independent growth drivers.
- The Company has long-standing relationships with key customers.
- Its track record has given it access to technology and markets through partnerships.
- The company derived 31.67%, 24.43% and 22.97% of its revenue from contracts with customers for Fiscal 2026 from the company Aerospace and Defence Fabrics, Industrial and Automotive Fabrics, and Aerospace and Defence Solutions market segments, respectively. If there is any decline in demand for aerospace and defence fabrics, industrial and automotive fabrics, and aerospace and defence solutions, it could has a material adverse effect on the company business, financial condition, results of operations and cash flows.
- The company's top customer and its top 10 customers contributed 11.13% and 59.52%, respectively, of the company revenue from contracts with customers for Fiscal 2026. Any decrease in sales to such customers or the loss of such customers could has an adverse effect on its business, results of operations, financial condition and cash flows.
- All six of the company manufacturing facilities are in the state of Gujarat. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in Gujarat could has an adverse effect on its business, results of operations, financial condition and cash flows.
- The Company, Directors and Promoters are involved in certain legal and regulatory proceedings. Any adverse decision in such proceedings may has an adverse effect on its business, results of operations, financial condition and cash flows.
- The company incurred negative cash flows from operating activities in Fiscal 2025 and may continue to incur negative cash flows in the future. Continued negative cash flows from operating activities could adversely affect its business, results of operations, and financial condition.