Kusumgar IPO Subscription Day 3: Issue Closes Today; Overall Demand Reaches 14.04x In Morning Session

Mumbai, July 10: The Kusumgar IPO is set to close for subscription today after drawing steady investor interest over the first two days of bidding. With several hours of bidding still left in the session, the ₹650 crore public issue had been subscribed 14.04 times as of the morning update on Day 3, reflecting continued participation across investor categories.

Demand continues to be driven by non-institutional investors (NII), which remained the strongest segment with subscriptions nearing 39 times. Retail investors also maintained solid momentum, with bids crossing the 10-times mark, while the Qualified Institutional Buyers (QIB) portion was subscribed 2.30 times. Final subscription figures will be available after bidding concludes later today.

The book-built IPO is entirely an Offer for Sale (OFS) of 1,55,13,126 equity shares aggregating up to ₹650 crore. The company has fixed the price band at ₹398 to ₹419 per share, with the issue closing at the upper end of the band for bidding calculations. Investors can apply in lots of 35 shares, requiring a minimum investment of ₹14,665 for retail applicants.

Kusumgar IPO Subscription Status Day 3

As of the morning update on July 10, the IPO had received bids for 15,28,59,175 shares against 1,08,84,249 shares on offer, translating into an overall subscription of 14.04 times.

Category-wise subscription stood at:

• QIB (Ex Anchor): 2.30x
• NII: 38.97x
• bNII: 39.18x
• sNII: 38.54x
• Retail Investors: 10.23x
• Employees: 4.17x
• Overall: 14.04x

The issue had attracted over 13.47 lakh applications by the latest update, highlighting broad participation from individual as well as high-net-worth investors.

Day-Wise Subscription Trend

Subscription demand has strengthened consistently through the bidding period.

While overall demand has moved up only marginally since Day 2, the NII category continued to see fresh bids, keeping it comfortably ahead of other investor segments. Retail participation also remained firm as the IPO entered its final day.

Kusumgar IPO Key Details

• Issue Size: ₹650 crore
• Issue Type: Book Built IPO
• Issue Structure: Offer for Sale (OFS) only
• Price Band: ₹398 to ₹419 per share
• Issue Price: ₹419 per share
• Lot Size: 35 shares
• Minimum Retail Investment: ₹14,665
• Listing: BSE and NSE

Important Dates

• IPO Opens: July 8, 2026
• IPO Closes:July 10, 2026
• Expected Allotment: July 13, 2026
• Refund Initiation: July 14, 2026
• Credit of Shares: July 14, 2026
• Tentative Listing: July 15, 2026

What Investors Should Watch

With the subscription window open for its final day, investors will now watch whether institutional buying gathers pace before the issue closes. Historically, QIB participation often increases on the last day of bidding, which could lift the overall subscription further.

Once the issue closes, the focus will shift to the basis of allotment, followed by share credit, refunds and the company’s stock market debut scheduled for next week.

Conclusion

The Kusumgar IPO has entered the final stretch of its subscription period with overall demand at 14.04 times by the morning of Day 3. Strong participation from non-institutional investors and healthy retail demand have supported the issue so far. The final subscription numbers will be known after bidding concludes today, after which investors will await the allotment process and the planned listing on July 15, 2026.

Source:

• https://www.chittorgarh.net/reports/anchor-investor/kusumgar-ipo-anchor-allocation-letter.pdf