KROSS LIMITED

09 Sep 2024 - 11 Sep 2024 Individual Category Main Board BSE NSE

Min Investment

₹14880

Price Band

₹228-₹240

Issue Size

153.51 lakhs
Equity Shares

Lot Size

62

IPO Dates
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09 Sep 2024

Open Date

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11 Sep 2024

Close Date

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12 Sep 2024

Allotment Date

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16 Sep 2024

Listing Date

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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About Kross Limited

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.

Founded

1991

Managing Director

Sudhir Rai and Anita Rai

Parent Organization

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0

How to Apply for IPO

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IPO Allotment

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