Kross IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Mon, 09 Sep 2024
Close Date
Wed, 11 Sep 2024
Price Band
₹ 228 – 240
Lot Size
62
Issue Size
₹ 500.00 Cr
Minimum Investment
₹ 14,880 (62 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Kross IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹500.00 Crore, comprising a fresh issue of 1.04 Crore equity shares aggregating to ₹250.00 Crore and an offer for sale (OFS) of 1.04 Crore equity shares aggregating to ₹250.00 Crore by the existing shareholders.
The Kross IPO remained open for subscription from September 09, 2024, to September 11, 2024. The basis of allotment was finalized on September 12, 2024, and the company's shares were listed on the NSE and BSE on September 16, 2024.
The company had fixed the price band at ₹228 to ₹240 per share, with a lot size of 62 shares. Retail investors were required to make a minimum investment of ₹14,880 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Equirus Capital Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Kross Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Kross IPO Timeline (Tentative)
- IPO Open Date
- Mon, 09 Sep 24
- IPO Close Date
- Wed, 11 Sep 24
- Basis of Allotment
- Thu, 12 Sep 24
- Initiation of Refunds
- Fri, 13 Sep 24
- Credit of Shares to Demat
- Fri, 13 Sep 24
- Listing Date
- Mon, 16 Sep 24 — NSE & BSE
Open Date
09 September 2024
Close Date
11 September 2024
Basis Of Allotment
12 September 2024
Listing Date
16 September 2024
IPO Subscription
Check Live Subscription →The Kross IPO has received bids for 25,80,21,866 shares against 1,53,50,877 shares offered, resulting in an overall subscription of 16.81x. the NII category is subscribed 22.24x, Retail Investors 10.76x, and QIBs 23.32x. Within the NII category, BNII is subscribed 22.05x, while SNII is subscribed 22.61x.
QIB
23.32x
NII
22.24x
BNII
22.05x
SNII
22.61x
RII
10.76x
Total
16.81x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 72,91,666 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 41,66,667 shares (20%), while Non-Institutional Investors (NIIs) receive 31,25,000 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 6,249,999 | 30% |
| Qualified Institutions | 4,166,667 | 20% |
| Non-Institutional | 3,125,000 | 15% |
| BNII | 2,083,534 | 10% |
| SNII | 1,041,466 | 5% |
| Retail Investors | 7,291,666 | 35% |
| Total | 20,833,332 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 352 | 250.57 | 197.82 |
| Revenue | 621.46 | 489.36 | 297.88 |
| Profit After Tax | 44.88 | 30.93 | 12.17 |
| Net Worth | 146.81 | 102.11 | 72.4 |
| Reserve & Surplus | 119.76 | 88.58 | 58.88 |
| Total Borrowings | 117.9 | 88.26 | 86.06 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Kross Limited KPI Information
| Particular | KPI as of March 31, 2024. |
|---|---|
| ROE % | 30.57 |
| ROCE % | 28.15 |
| RoNW % | 30.57 |
| PbW | 8.84 |
| Pat Margin % | 7.22 |
Peers Comparison
No Peer Comparision Available
About Kross Limited
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:
- Ramkrishna Forgings Limited
- Jamna Auto Industries Limited
- Automotive Axles Limited
- GNA Axles Limited
- Talbros Automotive Components Limited
Kross IPO Promoters
Promoters of the company.
- Sudhir Rai
- Anita Rai
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
0.00%
Kross IPO Objective
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of capital expenditure requirements towards the purchase of machinery and equipment.
- Repayment of certain outstanding borrowings availed from banks and financial institutions.
- Funding the working capital requirements of the company.
- General corporate purposes.
Kross Limited Address / Contact Details
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
Kross IPO Lot Size
The Kross IPO has a lot size of 62 shares. Retail investors require a minimum investment of ₹14,880 by applying for 1 lot (62 shares). The maximum application allowed for the retail category is 13 lots (806 shares), requiring an investment of ₹1,93,440.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 62 | 14,880.00 |
| Retail (Max) | 13 | 806 | 193,440.00 |
| S-HNI (Min) | 14 | 868 | 208,320.00 |
| S-HNI (Max) | 67 | 4,154 | 996,960.00 |
| B-HNI (Min) | 68 | 4,216 | 1,011,840.00 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Equirus Capital Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Kross IPO?
Kross IPO is a Book-building IPO with a total issue size of ₹500 crore. The Kross IPO price band is ₹228 to 240 per share. The Kross IPO subscription opens on Mon, Sep 9, 2024, and closes on Wed, Sep 11, 2024. The Kross IPO will be listed on the NSE,BSE. KFin Technologies Limited is the registrar for the Kross IPO.
When will the Kross IPO open for subscription?
The Kross IPO opens on Mon, Sep 9, 2024 and closes on Wed, Sep 11, 2024
What is Kross IPO Price Band?
Kross IPO Price Band is ₹228 to 240 per share.
What is Kross IPO Lot Size?
Kross IPO lot size is 62 shares, Retail investors need a minimum investment of ₹14880 based on the upper price band
What is the minimum investment for Kross IPO?
The minimum investment for Kross IPO is ₹14880, based on one lot of 62 shares at the upper price band of ₹240 per share.
How to apply for Kross IPO?
Investors can apply for the Kross IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Sep 11, 2024. The application amount remains blocked until the Kross IPO allotment is finalized.
What is Kross IPO Issue Size?
Kross IPO issue size is ₹500 crores.
What is the Kross IPO Allotment Date?
Kross IPO allotment date is Thu, Sep 12, 2024.
Who is the Kross IPO Registrar?
The registrar for Kross IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Kross IPO allotment status, refund processing, and other IPO-related information.
What is the Kross IPO GMP?
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 20.83% over the issue price.
Who is the Kross IPO Lead Manager?
The book-running lead managers (BRLMs) for the Kross IPO are Equirus Capital Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Kross IPO Red Herring Prospectus (RHP).