Kusumgar IPO Day 2, July 9 -- The initial public offering (IPO) of Kusumgar Ltd. entered its second day of subscription on July 10, after opening for bidding on July 9. The issue will close tomorrow, July 11. The company has fixed the price band at Rs.398 to Rs.419 per share.

Kusumgar aims to raise Rs.650 crore through the IPO, which is entirely an offer for sale (OFS) comprising 1.55 crore equity shares, with no fresh issue component.

The basis of allotment is expected to be finalised on Monday, July 13. Shares are likely to be credited to the demat accounts of successful applicants on Tuesday, July 14, while refunds to unsuccessful bidders will also be processed on the same day. The stock is scheduled to list on the BSE and NSE on Wed...