The Kusumgar IPO’s allotment status was announced today, on July 13, after the public issue received a strong response from investors. Applicants can now check whether shares have been allotted before the company starts trading on the stock exchanges.
The IPO attracted heavy demand across all investor groups. It closed with an overall subscription of 128.85 times. Qualified Institutional Buyers showed the highest interest, followed by Non-Institutional Investors. The retail category also received a good response, although the high subscription lowered the chances of getting shares.
Investors can check the IPO allotment status on the websites of BSE, NSE, or the registrar, Bigshare Services. The process is simple and only requires a PAN number, application number, or DP and Client ID. After entering the details, the website will show whether shares have been allotted.
Applicants using the NSE website need to select the IPO, enter the required details, and submit the form. On the BSE website, applicants should choose the equity issue, select Kusumgar Limited, enter the application number or PAN, complete the captcha, and submit the request. The registrar's website also allows applicants to check the result using the same details.
Investors who received shares will see them credited to their Demat accounts on July 14. Applicants who missed the allotment will have their blocked funds released on the same day. The IPO listing is scheduled for July 15 on both the NSE and BSE.
Strong demand for the IPO shows that investors have confidence in the company. Listing day performance still depends on overall market conditions and buying interest after trading begins.
The IPO GMP stands at Rs. 160 on July 13. Based on the upper issue price of Rs. 419 per share, the estimated listing price is around Rs. 579. This points to a possible listing gain of about 38% if market sentiment remains positive.
Market watchers often follow the grey market premium to understand investor interest before listing. GMP is not an official price and can change quickly, so the final listing price may differ from current estimates.
Kusumgar started operations in 1990 and makes engineered synthetic fabrics for industries such as aerospace, defence, automotive, industrial equipment, and outdoor products. The company operates seven manufacturing units across Gujarat and Uttar Pradesh.
The Rs. 650 crore IPO was entirely an Offer for Sale, which means existing shareholders sold their shares and the company will not receive fresh funds from the issue. Investors are now waiting for the stock market debut to see whether the strong subscription and healthy GMP lead to a solid listing.
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