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Kross IPO

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NSE,BSE 09 September - 11 September 2024
Kross Limited IPO is a book build issue of 500 Cr. The issue is a combination of fresh issue of 10416667 shares aggregating to 250 Cr and offer for sale of 10416667 shares aggregating to 250 Cr. Kross Limited IPO opened for subscription on Sep 09, 2024 and closed on Sep 11, 2024. The allotment for the this IPO was finalized on Sep 12, 2024. IPO was listed on NSE and BSE on Sep 16, 2024. Kross Limited IPO is set issue price band at ₹228 to ₹240 per share.

Current GMP

₹50 (+20.83%)

Price Band

₹ 228 – 240

Lot Size

62

Issue Size

₹500 Cr

Minimum Investment

₹14880 (62 Shares)

Listing Date

16 September 2024

Subscription

16.81x

About the Company

Kross Ltd is a diversified player focused on the manufacturing and supply of a wide range of forged and precision machine parts for medium and heavy commercial vehicles (i.e. M&HCV) and farm equipment segments. 

As such, they offer a diversified portfolio of high-performance and safety-critical components for the M&HCV and farm equipment segments. However, they are considered a specialist in manufacturing safety critical components for the M&HCV segment, which include axle shafts, companion flanges, anti-roll bars and stabiliser bar assembly, suspension linkages, etc. They also produce a wide variety of tractor components for the hydraulic lift arrangement, power take-off shafts and front axle spindles.

They supply their products to a diversified client base, which includes large original equipment manufacturers (OEMs) of M&HCV and tractors, as well as the top suppliers to these OEMs. They also have domestic dealers and fabricators as clients for their trailer axle and suspension business.

The MHCV industry is expected to grow at a compound annual growth rate of 2-4% between FY 2024 to FY 2029. Between the fiscal years of 2018 to 2023, the Indian tractor industry had registered a 5.4% CAGR. With the sectors that buy its products showing growth prospects, the revenue of Kross Ltd may also grow.

The companies considered by Kross Limited as its peers include: 

  1. Ramkrishna Forgings Limited
  2. Jamna Auto Industries Limited
  3. Automotive Axles Limited
  4. GNA Axles Limited
  5. Talbros Automotive Components Limited

Promoters

Promoters of the company. 

  1.  Sudhir Rai
  2.  Anita Rai 
Promoters Holding

Holding Pre Issue

100.00%

Holding Post Issue

0.00%

Objects of the Issue

The company plans to allocate the net proceeds from the issuance to the following purposes: 

  1. Funding of capital expenditure requirements towards the purchase of machinery and equipment. 
  2. Repayment of certain outstanding borrowings availed from banks and financial institutions.
  3. Funding the working capital requirements of the company.
  4. General corporate purposes.

Address / Contact Info

Kross Limited
M-4, Phase VI, Gamharia,
Adityapur Industrial Area,
Jamshedpur - 832108
Phone: +91 0657 2203812
Email: investors@krossindia.com
Website: https://www.krosslimited.com

IPO Snapshot

Face Value₹5 per share
Price Band₹ 228 – 240
Lot Size62
Issue TypeBook-building IPO
Sale Type
Fresh Issue₹ 250.00 Cr
Offer for Sale₹ 250.00 Cr
Total Issue Size₹ 500.00 Cr
Listing AtNSE,BSE
Industry
Sector
QIB Quota20%
BNII Quota10%
SNII Quota5%
Retail Quota35%

Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.

Frequently Asked Questions

Everything you need to know before applying to an IPO.

Kross IPO is a Book-building IPO worth ₹500 crores. The price band is ₹228 to 240 per share. The IPO opens on Mon, Sep 9, 2024 and closes on Wed, Sep 11, 2024. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.

The Kross IPO opens on Mon, Sep 9, 2024 and closes on Wed, Sep 11, 2024

Kross IPO Price Band is ₹228 to 240.

Kross IPO lot size is 62, and the minimum amount required for application is ₹14880.

The minimum investment for Kross IPO is approximately ₹14880 based on the upper price band.

To apply for the Kross IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Sep 11, 2024. After submission, funds are blocked until the basis of allotment of Kross IPO is finalised.

Kross IPO issue size is ₹500 crores.

Kross IPO allotment date is Sat, Jun 27, 2026.

The registrar for Kross IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Kross IPO through their official website or helpline.

The Kross IPO GMP (Grey Market Premium) is ₹50 as of Wed, Sep 11, 2024. Based on the upper price band of ₹240 per share, the estimated Kross IPO listing price is ₹290, indicating a potential listing gain of approximately 31% over the issue price.