KROSS IPO GMP Today, Kross IPO Grey Market Premium Updates |
Kross
IPO, Latest target, Opening gain

Kross IPO began on 09 September 2024. It will close on 11 September 2024. The Total IPO Size is ₹500.00 Crore Approx. The company set its IPO price is ₹228 to ₹240 per share Per Share. There are three basic categories in Kross IPO Subscription:- 1) Qualified Institutional Buyers.  2) Non-Institutional Investors.  3) Retail.

Kross Limited, formerly known as Kross Manufacturers (India) Private Limited, established in 1991, manufactures and supplies trailer axles and suspensions and a wide range of high-performance forged and precision machined safety critical parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment.

The company supplies its products to major original equipment manufacturers (“OEMs”) that manufacture M&HCVs and tractors, as well as to domestic dealers and trailer axle and suspension manufacturers that supply OEMs in the M&HCV segment.

Kross Limited has five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand, with the capacity to manufacture forgings weighing up to 40 kg. The production facilities are equipped with (i) forging presses and upsetting lines with induction heating for billets, (ii) a foundry with a high-pressure moulding line, (iii) high precision machining machines like turning centers, vertical and horizontal milling centres, Grinding, broaching, hobbing and shaping machines as well as robot welding systems, (iv) an in-house cathodic electro dip painting system (“CED system”), powder coating and spray painting and (v) heat treatment furnaces and induction hardening systems.

The company’s product portfolio includes axle shafts, companion flanges, anti-roll bars and stabilizer bar assembly, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and a variety of tractor components for the hydraulic lift arrangement, power take-off (PTO) shafts and front axle spindles.

As of June 30, 2024, the company had 528 permanent employees.

Kross IPO Details:

Issuer Kross IPO
Issue Type Book Built Issue IPO
Issue Period Issue Opens: 09 September, 2024
Issue Closes: 11 September, 2024
Price Brand 228 to ₹240 per share
Issue Size ₹500.00 Cr
Face Value ₹5 per share
Market Lot 62 Shares
Retail (Max) 1,93,440
QIB 50%
HNI 15%
Retail Individual Bidders 35%
Listing at NSE & BSE
✔️ Apply With ANGEL Free DEMAT Account
Total Shares 20,833,334 shares

Kross IPO GMP Rates day by day

Kross IPO Market Lot:

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 Date, Allotment & Listing:

Kross IPO Opening Date: September 09, 2024
Kross IPO Closing Date: September 11, 2024
Basis of Allotment: September 12, 2024
Initiation of Refunds: September 13, 2024
Credit to Demat Account: September 13, 2024
Listing Date: September 16, 2024

Kross Limited Financial Information (Restated)

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

Key Performance Indicator

The market capitalization of Kross IPO is Rs 1548.23 Cr.

KPI as of March 31, 2024.

KPI Values
ROE 30.57%
ROCE 28.15%
RoNW 30.57%
P/BV 8.84
PAT Margin (%) 7.22
Pre IPO Post IPO
EPS (Rs) 8.3 6.96
P/E (x) 28.93 34.5

Objects of the Issue (Kross IPO Objectives)

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

  1. Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
  2. 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;
  3. Funding working capital requirements of the Company; and
  4. General corporate purposes

Kross IPO ALLOTMENT STATUS

How to Apply for Kross IPO?

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How to Apply Kross IPO through Zerodha?

Log in to the Console in the Zerodha Website or Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Kross. Click on the Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open a Demat Account with Zerodha.

How to Apply Kross IPO through Upstox?

Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Kross. Click on the Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve – the mandate. Open a Demat Account with Upstox.

In case you have not been allotted or for any partial allotment of IPO shares, the blocked amount, if any, will be unblocked/released on or before the UPI mandate expiry date. Please reach out to your bank in case funds are not unblocked/released after the mandate expiry date.

PARENT COMPANY FOR SHAREHOLDER QUOTA

IPO ALLOTMENT TIPS & TRICKS

Frequently Asked Questions

What is Kross IPO?

Kross IPO is a main-board initial public offering of 20,833,334 Equity shares of the face value of ₹5 aggregating up to ₹500.00 Crores. The issue price of the IPO is ₹228 to ₹240 Per Equity Share. The minimum order quantity is 62 Shares per application and the offer type is Book Built Issue. The IPO opens on September 09, 2024 and closes on September 11, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

When Kross IPO will open?

The Kross IPO opens on September 09, 2024 and closes on September 11, 2024.

How to apply for Kross IPO?

You can apply in Kross IPO online using either UPI or ASBA as payment method. Equirus Capital Private Limited is the book running lead manager of the Kross IPO, while Kfin Technologies Limited is the registrar for the issue.

When Kross IPO allotment?

The finalization of Basis of Allotment for Kross IPO will be done on September 12, 2024, and the allotted shares will be credited to your demat account by September 13, 2024.

Check the Kross IPO allotment status.

When is Kross IPO listing date?

The Kross IPO listing date is not yet announced. The tentative date of Kross IPO listing is September 16, 2024.

What is the lot size of Kross IPO?

Kross lot size is 62 Shares and the minimum order quantity is 1 Share.