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

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.

Kross IPO Objectives

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

1. To Meet Working Capital Requirement.
2. Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
3. 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;
4. 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.

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.

Kross IPO Timeline

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