Kusumgar IPO

About the company

Kusumgar produces woven, coated and laminated synthetic fabrics based on polyamide and polyester yarns and polyurethane chemistry for customers requiring high tensile strength, tear strength, abrasion resistance, air permeability and waterproofing qualities. The company has created more than 1,000 unique fabric SKUs as of March 31, 2026, and has moved beyond fabric manufacture to produce aerospace and military products like parachutes, stealth and rapid deployment solutions. Kusumgar works in four segments, namely Aerospace and Defence Fabrics, Aerospace and Defence Solutions, Industrial and Automotive Fabrics and Outdoor and Lifestyle Fabrics. For FY26, aerospace and defence fabrics constituted 31.6% of the revenue, amounting to ₹213.7 crore, which was lower than 48.1% in the previous year, while aerospace and defence solutions constituted 22.9%, amounting to ₹155.02 crore. Industrial and automotive fabrics and outdoor and lifestyle fabrics showed consistent growth to contribute 24.4% and 18.5%, respectively, to the revenue in FY26. The revenue has diversified away from being dependent only on one segment, as was observed in FY24, when aerospace and defence fabrics alone constituted 68.7% of the revenue. The company runs six manufacturing units in Gujarat along with one fabric manufacturing unit in Uttar Pradesh. The vertically integrated business includes preparatory processes, weaving, dyeing, printing, finishing, coating, laminating, and fabrication. Total capacity utilisation stood at 49.5% during FY26, which is considerably less than 94.3% during FY24 due to the addition of capacity. The total contribution from the top six customers was ₹333.03 crore, or 49.3%, out of total sales in FY26, and the contribution from a single customer was 11.1%. The customer, Decathlon Sports India, is the only identified customer with a 7-year association and FY26 revenues of ₹69.98 crore. India is still the main market with 60.01% of revenues from FY26. The exports contribute the remaining 39.99% of FY26 revenues, and Germany, the USA, and Sri Lanka are the largest exporting countries, with revenues of 11.2%, 9.3%, and 5.1%, respectively. Kusumgar has a presence in the global engineered fabrics business, with a market size of $67.8 billion in 2025, growing at an 8.5% CAGR and expected to reach $112.2 billion in 2030, and in the rapidly growing domestic market of India, with a market size of ₹99,000 crore in FY26, increasing its CAGR from 10.0% to a projected 13.5% by FY31. The company operates in segments that grow at different rates, with aerospace and defence fabrics growing the fastest in India with 17-20% CAGR because of defence indigenisation, while outdoor and lifestyle is growing rapidly at a 7.5% to 12.5% CAGR worldwide because of changing China+1 sourcing strategies, while industrial and automotive is the largest and most mature of the segments. The market for engineered fabrics in India is growing at a CAGR of 13.5% to FY31, where defence fabrics will be growing the fastest with a CAGR of 20.0% and will be backed by government efforts such as the National Technical Textile Mission, PLI policy, and Make in India, along with globalisation moving away from China. Kusumgar has everything that it takes to leverage these opportunities due to its existing presence in the domestic parachute fabrics market, working for the government for defence purposes and growing its outdoor and lifestyle product range for global brands that have moved their production lines to India. Now, Kusumgar is launching its initial public offering (IPO), which is a complete offer for sale of ₹650 crore. Its shares will be listed on the NSE and BSE. ### **How to pre-apply for Kusumgar IPO?** You can pre-apply for the Kusumgar IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Kusumgar IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ### **How to apply for Kusumgar IPO?** If you are interested in this investment opportunity but unsure how to apply for Kusumgar IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Kusumgar IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Kusumgar IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the Kusumgar IPO allotment status? ** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Kusumgar IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your Kusumgar IPO allotment status will be mentioned

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   08 Jul 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   10 Jul 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   13 Jul 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   14 Jul 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   14 Jul 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   15 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.