Kusumgar Limited's initial public offering (IPO) was oversubscribed by 136 times as of the third day of bidding, according to livemint.com. The offer comprised 1.55 crore equity shares and attracted strong demand across all investor categories. The IPO aims to enhance the company's brand visibility, with proceeds not going to the company. The listing is expected on July 15, with a grey market premium signaling a 39% premium.
The IPO was fully subscribed on the first day itself and continued to see robust demand through the final day. Both the non-institutional investors (NII) and qualified institutional buyers (QIB) segments recorded significant interest, contributing to the oversubscription. The grey market premium of ₹163 per share reflects positive investor sentiment toward Kusumgar Limited, as reported by livemint.com.
This oversubscription highlights the ongoing strength of India's IPO market, which has been opening new avenues for retail investors seeking growth opportunities. Kusumgar's IPO is among several recent offerings that have seen high demand, underscoring investor confidence in mid-sized companies. The strong subscription also aligns with the broader trend of increased participation from institutional and non-institutional investors in Indian equity markets.
Kusumgar Limited's shares are scheduled to list on July 15, with the grey market premium at ₹163 indicating potential upside for investors at listing. The company raised capital through the offer of 1.55 crore shares, with the proceeds aimed at boosting brand visibility rather than direct corporate funding, according to livemint.com.