Kusumgar Limited is finalising allotments for its initial public offering today, following a public subscription that closed on Friday with an overall oversubscription of 128.85 times.
The refund process for unsuccessful bidders is scheduled to commence immediately, marking the final administrative step before the company's shares begin trading on the exchange.
The engineered fabrics manufacturer had opened its book for public subscription on July 8, generating significant retail and institutional interest over the three-day window.
The high subscription multiple suggests strong market appetite for the company's equity, potentially setting the stage for a premium listing price relative to the issue band.
Prior to the public issue, Kusumgar secured institutional backing by raising ₹193.9 crore from anchor investors.
The company allocated 4,628,877 shares at ₹419 each to these early backers, providing a baseline valuation reference for the broader market.