Overview

• Kusumgar submitted draft papers on Sept. 29 for a Rs 650 crore IPO structured entirely as an offer for sale, with proceeds going to selling shareholders.
• Promoters Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF plan to sell shares worth Rs 420 crore, Rs 200 crore, and Rs 30 crore, respectively.
• The equity shares are proposed to list on the NSE and BSE, and the issue will be conducted via the book-building route with standard QIB, non-institutional, and retail allocations.
• For FY25, the company reported revenue of Rs 779 crore and net profit of Rs 112 crore, and it operates six manufacturing facilities in Gujarat and one unit in Uttar Pradesh.
• Axis Capital, IIFL Capital Services, and Motilal Oswal are the book-running lead managers, Bigshare Services is the registrar, and the offer includes an employee reservation with a discount.