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

Kusumgar's Rs 650-crore initial public offering is nearing its closing day with robust investor participation. The stock currently commands a significant grey market premium, indicating strong investor sentiment. Non-Institutional Investors led the subscription, followed by retail and QIB segments. The company specializes in engineered synthetic fabrics for demanding industrial applications. Share allotment is expected on July 13, 2026, with listing on July 15, 2026.