Kusumgar Limited shares opened significantly higher on Indian stock exchanges on Tuesday, marking a strong market debut for the engineered fabrics manufacturer.
The stock listed at ₹569 on the National Stock Exchange (NSE) and ₹574 on the Bombay Stock Exchange (BSE), representing premiums of approximately 36% and 37% respectively over the final issue price of ₹419.
The sharp repricing reflects intense investor interest in the company’s initial public offering, which was subscribed 135.8 times.
The issue was structured entirely as an Offer for Sale involving 1.55 crore shares, allowing existing stakeholders to exit while the company itself did not raise fresh capital.
The substantial listing gain indicates that market participants are valuing the firm’s position in the engineered fabrics segment well above the IPO valuation.
Kusumgar had previously set its price band between ₹398 and ₹419 per equity share, with the subscription window open from July 8 to July 10.