IPO GMP Today: Kusumgar IPO Subscribed 14x So Far on Day 2 Amid Strong Demand | Should You Bid?

IPO GMP Today: Kusumgar Limited's initial public offering (IPO) continued to receive strong investor demand on the second day of its subscription. The Gujarat-based engineering fabrics manufacturer has achieved nearly 13.88x subscription till 5:30 pm on day 2, ie Thursday, July 9. Despite robust subscription, Kusumgar IPO GMP today declined for the second consecutive session.

Kusumgar IPO Subscription Day 2

Kusumgar IPO was subscribed around 13.88 times on the second day, as per Chittorgarh.com data at 5:30 pm on Thursday, July 9. The IPOP saw strong participation in the NII category followed by robust demand in the retail investors category as well. The IPO was subscribed around 13.88 times overall which included 10.04 times subscription in the retail category, 2.3 times subscription in the QIB (ex-anchor) category, and 38.64 times subscription in the NII category till 5:30 pm, as per Chittorgarh.com data. Kusumgar IPO was subscribed around 3.68x on day 1.

Kusumgar IPO GMP Today

Kusumgar IPO grey market premium (GMP) declined on Thursday for the second consecutive day. Kusumgar IPO GMP today stood at Rs 155 which indicated an estimated listing of around Rs 574 per share (which is the sum of upper price band and IPO GMP). The expected percentage gain or loss per share is 36.99%. The IPO GMP is not an indication of an IPO's listing day performance but rather indictes its demand in the unregulated market.

Kusumgar IPO Subscription Day 2: Should You Bid?

Kusumgar Limited is specialised in technical capabilities and customer relationships.The company is likely to benefit from the slew of free trade agreements (FTAs) with other trading nations which is expected to boost export business. SBI Securities, in its report, recommended to "Subscribe for long-term".

"At upper price band of Rs 419, the issue is valued at a FY26 P/E of 44.8x. Though, this multiple is higher than its peers, it isin line when adjusted for higher growth across revenue and industry leading EBITDA and PAT margins. We recommend investors to SUBSCRIBE to the issue for long-term investment horizon," read the SBI Securities report.

About Kusumgar IPO

The IPO bidding will remain open till July 10 and the allotment is likely to be finalised on July 13. The IPO price band is fixed betweenRs 398 per share and Rs 419 per share. The lot size for an application is 35 shares and the minimum amount of investment required by an individual investor (retail) is Rs 14,665.