Natural polymers have been used in medical, pharmaceutical, cosmetic and food industry. They should be characterized before their possible applications in different industries. The objective of this study was to characterize Kheri (Acacia chundra, family: Mimosaceae) gum using analytical, mathematical and pharmaceutical approaches. Crude Kheri gum (KG) was purified using distilled water as a solvent and ethanol as a precipitating agent. KG was characterized in terms of phytochemical screening, micromeritic properties, microbial load, ash value, rheological behavior, solid state 1H nuclear magnetic resonance (NMR), mass spectra and Fourier-transform infrared spectroscopy (FTIR) studies for their possible applications in food, cosmetics and pharmaceutical industry. Studies show that KG contains carbohydrates, while protein, fat, volatile oils, alkaloids and glycosides are absent. 1% aqueous solution of polysaccharide showed 25.58 × 103 kJ/kg activation energy and 1.39 Reynold's number. Viscosity average molecular weight of purified gum was found 1.73 × 105 D. Thermodynamic parameters, i.e., change in enthalpy ΔHv and change in enthalpy ΔHv, were found to be 12.26 × 103 kJ/mol and 24.47 kJ/mol, respectively. Mathematical approach also determined the rod shaped conformation of KG in aqueous solution. IR spectroscopic study shows the presence of free (COO-) and esterified (COO-R) carboxylic acid, ether (C-O stretching), galacturonic acid and mannose in polysaccharide 1H NMR study predicts presence of tetrahydropyran hydrogen in molecule. Furthermore, KG was also characterized as a suspending agent using paracetamol as a model drug. Flow rate, pH, particle size and settling behavior of suspensions were evaluated. Initial particle size of dispersed phase particles does not change significantly after 45 days. From the findings of the research it can be concluded that KG can be used as an excipient in cosmaceuticals and pharmaceuticals and its characteristic rheological behavior may attract rheologists.