Kusumgar Limited shares began trading on Indian stock exchanges on Wednesday, July 15, marking the public debut of the engineered fabrics manufacturer.
The listing follows an initial public offering that closed on July 10 after attracting significant investor interest across all categories.
Grey-market premiums (GMP) ahead of the listing signaled a strong opening for the stock, suggesting that the robust demand seen during the bidding window would translate into immediate upside for allottees.
The GMP activity indicated that market participants were willing to pay a premium over the issue price, reflecting confidence in the company's fundamentals and growth prospects in the technical textiles sector.
The IPO, which opened for subscription on July 8, was subscribed 3.67 times against the available quota on its first day of bidding.
Non-institutional investors drove the majority of the demand, highlighting strong retail appetite for the listing.