Kusumgar's Rs 650-crore IPO to open on July 8; entire issue an OFS

Kusumgar, a leading manufacturer of engineered synthetic fabrics, will launch its Rs 650-crore initial public offering (IPO) on July 8, offering investors an opportunity to invest in a company that caters to sectors ranging from aerospace and defence to automotive and outdoor performance gear.

The anchor investor portion will be available for subscription on July 7, while the public issue will remain open from July 8 to July 10. The basis of allotment is expected to be finalised on July 13, with the company's shares likely to debut on the stock exchanges on July 15.

Pure Offer-for-Sale

The IPO is entirely an offer-for-sale (OFS), with no fresh issue of shares. This means the company will not receive any proceeds from the public offering, and the entire amount will go to the existing selling shareholders.


The OFS includes shares being sold by promoters Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF.

Founded in 1990, Kusumgar Ltd manufactures woven, coated and laminated synthetic fabrics, commonly known as engineered fabrics. The company primarily works with polyamide and polyester filaments, leveraging polyurethane chemistry to develop high-performance textile solutions.

As of March 31, 2026, Kusumgar had developed more than 1,000 unique stock-keeping units (SKUs), establishing a strong presence in the functional and performance fabrics segment. Its products are supplied to a diverse range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle markets.

In recent years, the company has expanded beyond fabric manufacturing into specialised aerospace and military solutions, including parachute systems, stealth materials, camouflage products, and rapid deployment systems.

Business Segments

Aerospace and Defence Fabrics: Kusumgar manufactures high-performance fabrics designed to meet stringent aerospace and defence standards. These materials are used in parachutes, tactical apparel, specialised military equipment, stealth applications, and rapid deployment systems.

Aerospace and Defence Solutions: The company has broadened its offerings to include complete defence products such as parachute systems, camouflage nets, and deployable shelters. It also provides maintenance and repair services for select customers.

Industrial and Automotive Fabrics: Kusumgar supplies engineered fabrics for industrial and automotive applications, including tapes, mechanical rubber goods (MRG), inflatables, and customised industrial solutions.

Outdoor and Lifestyle Fabrics: The company serves global activewear and outdoor gear brands with performance fabrics used in athleisure, rainwear, winter clothing, backpacks, luggage, tents, and sleeping bags.

As of March 31, 2026, Kusumgar employed 2,077 people across its operations.

Financial Performance

Kusumgar reported a softer financial performance in FY26, with revenue declining 10% year-on-year to Rs 712 crore, compared with Rs 790 crore in FY25. Profit after tax (PAT) also fell 12% to Rs 98 crore in FY26 from Rs 112 crore a year earlier, reflecting a moderation in earnings during the year.

The IPO is being managed by Axis Capital, IIFL Capital Services, and Motilal Oswal Investment Advisors, which are acting as the book-running lead managers to the issue.

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