
Kusumgar
IPO Review and Rating
Overall Recommendation
PARAMETER
WEIGHT
SCORE
KEY FACTORS
TOTAL
100%
0.0/5
Weighted Composite Score
Issue Price
₹398.0 to ₹419.0
As of 29 Aug 2026
Lot Size
35.0 Shares
| Issue size | |
|---|---|
| Overall | ₹650.0 Cr |
| Fresh Issue | - |
| Offer for Sale | ₹650.0 Cr |
Minimum Investment
₹14,665.0 / 1,225 shares

Merchant Banker
Axis Capital Ltd.
Offer Start Date
8th Jul 2026
Offer End Date
10th Jul 2026
Valuation
₹4,399.1 Cr
Revenue
₹711.8 Cr
PAT FY'25
₹98.2 Cr
Issue Size
₹650.0 Cr
Face Value
₹ 1.0Offer Price
₹ 419.0Lot Size
35.0 sharesSale Type
OFS onlyPAT FY'25
₹ 98.2 CrPAT Margin (FY'25)
13.8 %P/E Multiple
44.8xEBITDA (FY'25)
₹ 187.9 CrCAGR Growth 3Y
22.5 %ROE (FY'25)
25.8 %ROCE (FY'25)
24.8 %Price to Book Value
8.8xDebt/Equity
0.4xCompany Website
www.kusumgar.comExplore new deals
Overview
Fund Allocation
Total: ₹0 CrSource:Company DRHP
Timeline
IPO Open Date
To Be Announced
IPO Close Date
To Be Announced
Tentative Allotment
To Be Announced
Initiation of Refunds
To Be Announced
Credit of Shares to Demat
To Be Announced
Tentative Listing Date
To Be Announced
Business
Business Model
Financial Highlights
Income Statement
Revenue growth with EBITDA and PAT margins
| Financial Metric | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue (₹ Cr) | 474.6 | 790.2 | 711.8 |
| Growth (%) | - | - | - |
| EBITDA (₹ Cr) | 131.9 | 188.4 | 187.9 |
| EBITDA Margin (%) | 27.8% | 23.8% | 26.4% |
| PAT (₹ Cr) | 84.4 | 112.0 | 98.2 |
| PAT Margin (%) | 17.8% | 14.2% | 13.8% |
Balance Sheet
| Financial Metric | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Net Worth | ₹ 140.4 Cr | ₹ 257.8 Cr | ₹ 503.0 Cr |
| Total Assets | ₹ 584.7 Cr | ₹ 632.4 Cr | ₹ 905.1 Cr |
| Total Borrowing | ₹ 76.5 Cr | ₹ 246.5 Cr | ₹ 223.6 Cr |
| Reserves & Surplus | ₹ 138.4 Cr | ₹ 247.6 Cr | ₹ 491.1 Cr |
Cash Flow
| Financial Metric |
|---|
Financial Ratios
Measures the company’s leverage relative to shareholder equity.
Industry Overview
- Overview
- Business
- Financial Highlights
- Industry Overview

