New Delhi: Engineered fabric manufacturer Kusumgar Ltd on Friday fixed a price band of Rs 398 to Rs 419 per share for its upcoming Rs 650-crore initial public offering (IPO).
In a statement, the company said its maiden public offering will open for subscription on July 8 and conclude on July 10.
The IPO is structured entirely as an offer-for-sale (OFS) of 10.5 crore shares by promoters. Since the issue is an OFS, the Mumbai-based firm will not receive any proceeds and the funds will go entirely to the selling shareholders.
The company said half the issue is reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Founded in 1990, the company manufactures woven, coated and laminated synthetic fabrics, known as engineered fabrics. It primarily produces aerospace and defence fabrics, industrial and automotive fabrics, and outdoor and lifestyle fabrics.
The company has six manufacturing facilities in Gujarat and one fabrication unit in Uttar Pradesh.
On the financial front, Kusumgar posted revenue from operations of Rs 692 crore in FY26 and a net profit of Rs 98.2 crore.
Axis Capital, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers.
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