Kross Limited IPO

NiftyTrader • September 9, 2024

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Kross Limited IPO

Kross Limited IPO opens on September 9, 2024, and closes on September 11, 2024. The allotment for the Kross Limited IPO is anticipated to be completed on Thursday, September 12, 2024. The IPO will be tentatively listed on the NSE and BSE on Monday, September 16, 2024.

Kross Limited IPO’s price band is Rs 228 to Rs 240 per share. The IPO is a book-built issue of Rs 500.00 crores. The issue is a combination of a fresh issue of 1.04 crore shares.

Kross IPO Details

IPO Date	September 9, 2024 to September 11, 2024
Listing Date	[.]
Face Value	₹5 per share
Price	₹228 to ₹240 per share
Lot Size	62 Shares
Total Issue Size	20,833,334 shares (aggregating up to ₹500.00 Cr)
Fresh Issue	10,416,667 shares (aggregating up to ₹250.00 Cr)
Offer for Sale	10,416,667 shares of ₹5 (aggregating up to ₹250.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre-issue	54,092,756
Shareholding post-issue	64,509,423

Kross IPO Lot Size

Investors can bid for a minimum of 62 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	62	₹14,880
Retail (Max)	13	806	₹193,440
S-HNI (Min)	14	868	₹208,320
S-HNI (Max)	67	4,154	₹996,960
B-HNI (Min)	68	4,216	₹1,011,840

Kross IPO Objectives

The Company proposes to utilize the Net Proceeds towards funding the following objects:

To Meet Working Capital Requirement.
Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company, from banks and financial institutions;
To meet the General Corporate Purposes; and

About Kross Limited

Kross Limited, formerly Kross Manufacturers (India) Private Limited and established in 1991, specializes in manufacturing trailer axles, suspensions, and high-performance forged and precision machined components for medium and heavy-duty commercial vehicles and agricultural equipment. Its product range includes axle shafts, anti-roll bars, suspension linkages, and various tractor components. Kross supplies major OEMs and domestic dealers in the M&HCV sector and operates five ISO 9001:2015 certified facilities in Jamshedpur, Jharkhand. These facilities are equipped with advanced forging, machining, and coating technologies. As of June 30, 2024, the company employs 528 people.

Kross Limited Financial Information

Kross Limited’s revenue increased by 27% and profit after tax (PAT) rose by 45% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	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
Reserves and Surplus	119.76	88.58	58.88
Total Borrowing	117.9	88.26	86.06
			Amount in ₹ Crore

Kross IPO Reservation

Kross IPO offers 2,08,33,332 shares. 41,66,667 (20%) to QIB, 31,25,000 (15%) to NII, 72,91,666 (35%) to RII and 62,49,999 (30%) to Anchor investors.

Investor Category	Shares Offered
Anchor Investor Shares Offered	62,49,999 (30%)
bNII > ₹10L	20,83,534 (10%)
sNII < ₹10L	10,41,466 (5%)
QIB Shares Offered	41,66,667 (20%)
NII (HNI) Shares Offered	31,25,000 (15%)
Retail Shares Offered	72,91,666 (35%)
Total Shares Offered	2,08,33,332 (100%)

Kross IPO Timeline

Kross IPO opens on September 9, 2024, and closes on September 11, 2024.

IPO Open Date	Monday, September 9, 2024
IPO Close Date	Wednesday, September 11, 2024
Basis of Allotment	Thursday, September 12, 2024
Initiation of Refunds	Friday, September 13, 2024
A credit of Shares to Demat	Friday, September 13, 2024
Listing Date	Monday, September 16, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 11, 2024