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IPO Status: Listed [9th Sep 2024 to 11th Sep 2024]
Kross IPO, a Mainline IPO of ₹500.00 Cr was launced on 09-09-2024 to 11-09-2024 and the shares got listed on BSE, NSE on 16-09-2024.
The public issue of Kross IPO (KROSS,544253) was offered at ₹240.00 per share and the ipo was listed at ₹240.00. It has delivered at par listing .
As the minimum lot size was 62 shares, the IPO has offered Rs 0.00 per lot loss on listing.
| IPO Issue Opening Date: | 9th Sep 2024 |
| IPO Issue Closing Date: | 11th Sep 2024 |
| IPO Issue Price: | ₹228.00-240.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35.03% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹500.00 Cr |
| Offer for Sale: | ₹250.00 Cr |
| Fresh Issue: | ₹250.00 Cr |
| Face Value: | ₹5 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 100.00% |
| Promoter Holding Post IPO: | 67.7 % |
| Allotment Status: | Allotment Status |
| BSE Code: | 544253 |
| NSE Code: | KROSS |
Get important updates regarding Kross IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 12th Sep 2024 |
| Refunds Initiation* | 13th Sep 2024 |
| Credit of Shares to Demat* | 13th Sep 2024 |
| IPO Listing Date* | 16th Sep 2024 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹228.00-240.00 |
| Market Lot: | 62 Shares |
| 1 Lot Amount: | ₹14880 |
| Min Small HNI Lots(2-10 Lakh): | 868 shares (14 lots) - ₹208320 |
| Min Big HNI Lots(10+ Lakh): | 4216 shares (68 lots) - ₹1011840 |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 16-09-2024 | 240.00 | 24.50 | 1200/16800 | ₹264.5 (10.21%) | 16-Sep-2024 10:27 |
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**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Kross Limited was founded in May 1991. The company is a diversified business focused on manufacturing and supplying 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 “and agricultural equipment". The company has become one of the fastest growing players in the organised trailer axle industry, competing with major manufacturers.
With more than three decades of experience, the company relies on its product development capabilities to develop and supply its products such as trailer axles and suspensions. The company is one of the few domestic players capable of manufacturing trailer axles and suspensions in-house.
The company has five manufacturing facilities in Jamshedpur, Jharkhand, which are equipped with :
The company currently manufactures a wide range of components and can produce forgings with an input weight of up to 40 kg. It has improved its backward integration capabilities by building a new foundry in Unit V and setting up a high-pressure foundry and machine shop.
The company is in the process of expanding its capacity and increasing its product offering by upgrading the existing facilities and adding more production lines that will allow us to manufacture a new range of parts, such as hydraulic covers for tractors and a dedicated machining line for hubs and brake drums.
| Incorporation | Sector | IPO Issue Size | Website |
| 1991 | Auto Components & Equipments | ₹500.00 Cr | https://www.krosslimited.com/ |
The Company proposes to utilize the Net Proceeds towards funding the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from BSE, NSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 4,166,667 (28.57%) | 3,125,000 (21.43%) | 7,291,666 (50%) | 14,583,333 | |
| 1 | 9th Sep 2024 19:04 | 0.00x | 0.64x | 1.62x | 0.95x |
| 2 | 10th Sep 2024 19:04 | 0.03x | 3.03x | 4.15x | 2.73x |
| 3 | 11th Sep 2024 18:21 | 24.55x | 23.40x | 11.26x | 17.66x |
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 | ||||||||||||||||||||||||||||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Kross Limited | 8.3 | 8.3 | 27.14 | 30.57 | Standalone | |
| Ramkrishna Forgings Ltd. | 20.27 | 20.09 | 148.48 | 46.55 | 12.72 | Consolidated |
| Jamna Auto Industries Ltd. | 5.15 | 5.15 | 22.64 | 24.3 | 22.74 | Consolidated |
| Automotive Axles Ltd. | 109.95 | 109.95 | 579.63 | 17.05 | 18.97 | Consolidated |
| G N A Axles Ltd | 23.28 | 23.28 | 186.69 | 17.32 | 12.47 | Consolidated |
| Talbros Automotive Components Ltd. | 17.82 | 17.82 | 87.02 | 19.03 | 20.47 | Consolidated |
Last Updated on 19-Sep-2024 13:32:54
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Kross IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Kross IPO with Zerodha.
Alternate approch to apply in Kross IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Kross IPO Review and Important Updates
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To subscribe or apply in Kross IPO, you can use the following methods:
| Kross IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Kross IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Kross IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Kross IPO. Most of the Syndicate Banks provide access to apply in Kross IPO via ASBA process. You must have your net banking access, DP ID information to apply in Kross IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Kross IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Kross IPO Review and Important Updates
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Applying in Kross IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Kross IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Kross IPO, please refer article >> Link
Kross IPO Review and Important Updates
Steps to download the online application form for Kross IPO
Or
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Kross IPO is going to be list on 16-09-2024. NSE Code for Kross is KROSS. BSE Code for Kross is 544253.
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Kross IPO Allotment Date is 12-09-2024.
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Kross IPO share allotment date?Kross IPO allotment date?
