Kusumgar Limited’s initial public offering attracted robust interest on its first day of bidding, with the issue subscribing 3.67 times against the available quota.
Non-institutional investors drove the majority of the demand, underscoring the continued retail appetite for small-cap listings in India.
The issue, which opened on July 8, remains open for subscription until Friday, July 10.
Grey market premiums are signaling a potential bumper listing for the engineered fabrics manufacturer, suggesting that shares could debut at a significant premium to the issue price.
This sentiment aligns with a broader trend of intense retail participation in the Indian SME IPO segment, where several recent issues have seen massive oversubscription.
The strong opening response for Kusumgar indicates that investor confidence in the segment remains high despite broader market volatility.