Kross Limited IPO Overview

Kross IPO, worth ₹500 crores, opens from September 9 to 11, 2024, with a fresh issue of 1.04 crore shares and an offer for sale of 1.04 crore shares, each aggregating ₹250 crores. The price band is ₹228-240 per share, with a minimum investment of ₹14,880 (62 shares). The allotment is expected on September 12, and the listing is set for September 16, 2024, on BSE and NSE.

Equirus Capital is the lead manager, and Kfin Technologies is the registrar for the issue. For further details, Refer to Kross IPO RHP.

Kross Limited IPO Important dates

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

IPO Open Date Monday, September 9, 2024
IPO Close Date Wednesday, September 11, 2024
Basis of Allotment Thursday, September 12, 2024
Initiation of Refunds Friday, September 13, 2024
The credit of Shares to Demat Friday, September 13, 2024
Listing Date Monday, September 16, 2024
Cut-off time for UPI mandate confirmation 5 PM on September 11, 2024

Kross Limited IPO Financial Performance

Period Ended 31 Mar 2024 (₹ Crore) 31 Mar 2023 (₹ Crore) 31 Mar 2022 (₹ Crore)
Assets 3.52 Crore 2.51 Crore 1.98 Crore
Revenue 6.21 Crore 4.89 Crore 2.98 Crore
Profit After Tax 0.45 Crore 0.31 Crore 0.12 Crore
Net Worth 1.47 Crore 1.02 Crore 0.72 Crore
Reserves and Surplus 1.20 Crore 0.89 Crore 0.59 Crore
Total Borrowing 1.18 Crore 0.88 Crore 0.86 Crore

Kross Limited IPO 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

Kross Limited IPO Objectives

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

  • Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment.
  • 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.
  • Funding working capital requirements of the Company; and
  • General corporate purposes.

Kross Limited IPO Lot Size

Investors can bid for a minimum of 62 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI regarding shares and amounts.

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 Limited IPO Details

IPO Date September 9, 2024 to September 11, 2024
Listing Date [.]
Face Value ₹5 per share
Price Band ₹228 to ₹240 per share
Lot Size 62 Shares
Total Issue Size 20,833,334 shares
(aggregating up to ₹500.00 Cr)
Fresh Issue 10,416,667 shares
(aggregating up to ₹250.00 Cr)
Offer for Sale 10,416,667 shares of ₹5
(aggregating up to ₹250.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Shareholding pre-issue 54,092,756
Shareholding post issue 64,509,423

Kross Limited Company Overview and Services

Kross Limited, originally Kross Manufacturers (India) Private Limited, has been a leading manufacturer since 1991. The company produces high-performance forged and precision machined parts, including trailer axles and suspensions for medium and heavy-duty commercial vehicles (M&HCVs) and agricultural equipment. Their product lineup features axle shafts, anti-roll bars, suspension linkages, and various tractor components.

Kross Limited supplies its components to major OEMs and domestic dealers in the M&HCV and tractor sectors. The company is known for its reliability and quality in the industry, supported by a diverse product range that meets the needs of trailer axle and suspension manufacturers.

Operating five ISO 9001:2015 certified facilities in Jamshedpur, Jharkhand, Kross Limited boasts advanced manufacturing capabilities. These facilities can produce forgings up to 40 kg and are equipped with state-of-the-art technology, including forging presses, high-precision machining machines, and comprehensive painting and heat treatment systems. As of June 30, 2024, the company employs 528 people, highlighting its significant role in the industry.

Kross Limited IPO SWOT Analysis

Strengths:

  • Brand Recognition: If Kross Limited has strong brand equity, it could attract investor interest and boost its IPO performance.
  • Market Position: A solid market position and competitive edge in its industry can make the company more attractive to potential investors.
  • Financial Health: Strong financials, such as profitability and healthy cash flow, can positively impact the IPO.
  • Growth Potential: A clear growth strategy and potential for future expansion can make the IPO more appealing.

Weaknesses:

  • Limited Track Record: If the company is relatively new or lacks a proven track record, investors might be wary.
  • High Debt Levels: Significant debt can be a red flag for potential investors.
  • Operational Challenges: Any existing operational or management challenges might be viewed negatively.
  • Market Volatility: If the market is currently volatile, it can impact the success of the IPO.

Opportunities:

  • Capital Raising: The IPO provides an opportunity to raise capital for expansion, research and development, or other strategic initiatives.
  • Increased Visibility: Going public can enhance the company’s visibility and credibility in the market.
  • Strategic Partnerships: Being a public company can facilitate partnerships and collaborations with other businesses.
  • Market Expansion: The additional capital can be used to enter new markets or invest in new product lines.

Threats:

  • Market Conditions: Adverse market conditions or economic downturns can negatively impact the IPO.
  • Regulatory Risks: Increased regulatory scrutiny and compliance requirements for public companies can be challenging.
  • Competition: Competitive pressures from other companies in the same industry could impact the company’s market position.
  • Investor Sentiment: Negative sentiment or lack of interest from investors can affect the IPO’s success.

Kross Limited IPO GMP Details

Kross IPO’s last GMP is ₹0, last updated Sep 7th 2024. With the price band of 240.00, Kross IPO’s estimated listing price is ₹240 (cap price + today’s GMP). The expected percentage gain/loss per share is 0.00%.

Stay with us to know the daily price trend of Kross IPO GMP with an expected listing price.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
07-09-2024 240.00 ₹0  — ₹240 (0%) 7-Sep-2024
06-09-2024 240.00 ₹0  — ₹240 (0%) 6-Sep-2024
05-09-2024 240.00 ₹0  — ₹240 (0%) 5-Sep-2024
04-09-2024 240.00 ₹0  — ₹240 (0%) 4-Sep-2024
03-09-2024 ₹0  — ₹ (0%) 3-Sep-2024

Kross Limited IPO subscription status 

Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.

Kross Limited IPO Allotment status 

The allotment status of Kross IPO is expected to be available on September 12, 2024.

Kross IPO allotment status is not available at this time. Kross IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Kross Limited’s IPO allotment status.

To check Kross IPO allotment status, follow the steps below:

  • Click on the allotment status check button below.
  • Select Company Name.
  • Enter your PAN Number, Application Number or DP Client ID (Anyone).
  • Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call 04067162222, 04079611000, or send an email with all relevant details to krosslimited.ipo@kfintech.com.

Kross Limited Contact Details

Kross Limited
M-4, Phase VI, Gamharia,
Adityapur Industrial Area,
Jamshedpur – 832108
Phone: +91 0657 2203812
Email: investors@krossindia.com
Website: https://www.krosslimited.com/

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 Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.