Kross Limited IPO: Key highlights of upcoming IPO

• Kross IPO is a book-built issue of Rs 500 crore.
• This upcoming IPO bidding opens on September 9 and closes on September 11, 2024.
• Kross's IPO price is set at Rs 228 – Rs 240 per share.
• The minimum investment amount required for retail investors is Rs 14,880.

Kross IPO: Synopsis

Kross is open for subscription from Monday, September 9, 2024, and closing on Wednesday, September 11, 2024. The price band for this IPO is set to Rs 228 – Rs 240 per share.

The company is offering a fresh issue of 1.04 crore equity shares amounting up to Rs 250 crore and an OFS of 1.04 crore equity shares amounting up to Rs 250 crore; this aggregates to a total size of 2.08 crore equity shares amounting up to Rs 500 crore.

The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024. This IPO will be listed on the NSE and BSE exchanges on Monday, September 16, 2024.

The IPO is managed by Equirus Capital Private Limited, which is book running as the lead manager of this IPO. The company has appointed Kfin Technologies Limited as the registrar for the issue.

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Kross Limited: About the Company

Kross Limited was incorporated as Kross Manufacturers (India) Private Limited on July 29 1991. It manufactures trailer axles, suspensions, and a range of high-performance forged and precision-machined safety-critical parts for medium and heavy-duty commercial vehicles and agricultural equipment. The wide range of products includes axle shafts, companion flanges, anti-roll bars, bevel gears, tractor components like PTO shafts, and front axle spindles.

The company supplies these products to leading OEMs in the M&HCV and tractor segments. Kross Limited operates five ISO 9001:2015-certified manufacturing facilities at Jamshedpur, Jharkhand, with 528 permanent staff as of June 30, 2024.

Kross IPO: Objectives

The company says they will utilise the Net Proceeds received from fresh issue towards several key objectives of the following nature: funding capital expenditure requirements in connection with the purchase of machinery and equipment, repayment or prepayment, in full or in part, of certain outstanding borrowings from banks and financial institutions, funding the company's working capital requirements, and funding towards general corporate purposes.

Kross IPO: Other Important Details

Time-Table of Kross IPO

Kross Ltd Financial Metrics (Amt in Rs Crore)

Lot Size Details of Kross Limited IPO

Promoters of Kross Limited and Their Holdings

Sudhir Rai and Anita Rai are the promoter(s) of the company. They collectively held 100% of the company's shares. However, post-IPO, the change in his shareholding has not yet been disclosed.

FAQs

1.  What are the core details available for Kross’s IPO?

Kross IPO is a book-built issue of Rs 500 crore. This upcoming IPO offers a fresh issue of 1.04 crore equity shares and an offer for sale of 1.04 crore equity shares. The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024.

2.  How can I apply for the Kross IPO?

The public subscription of this new IPO opens on Monday, September 9, 2024 and closes on Wednesday, September 11, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Kross IPO?

Equirus Capital Private Limited were appointed as the book-running lead manager for this IPO..

4.  Who is appointed as the registrar for this IPO?

Kfin Technologies Limited has been appointed as the registrar for this public issue.

5.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Kross Limited by visiting here, for further updates, follow Bigul.

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