The ₹650-crore Kusumgar IPO has opened for subscription, with strong interest from investors as the grey market indicates a potential listing gain of nearly 40%.
The issue is entirely an Offer for Sale (OFS) by existing shareholders, with a price band of ₹660-699 per share. The IPO will remain open until July 10, and shares are expected to list on July 15.
Market participants are closely tracking subscription levels, encouraged by the company’s strong business fundamentals and the positive sentiment reflected in the grey market premium.