Kross IPO (Kross Limited IPO)
Kross IPO open for bidding on 9th September 2024 and ends on 11th September 2024.
Kross Limited, founded in 1991, is a leading manufacturer specializing in forged and machined components for commercial vehicles and tractors. With a registered office in Jamshedpur, Jharkhand, the company has steadily expanded its capabilities and market presence.
The company offers a broad range of products, catering to OEMs (Original Equipment Manufacturers) in India and overseas. Its expertise lies in producing high-precision components using advanced forging and machining technologies, ensuring superior quality and durability.
In line with its growth strategy, Kross Limited is focusing on increasing its production capacity and enhancing its technological infrastructure to meet rising demand in the automotive and agricultural sectors.
For more details refer to Kross IPO RHP and Kross IPO Pulse Score
Kross IPO Details
| IPO Date | 9th September 2024 to 11th September 2024 |
| Listing Date | 16th September 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹228 to ₹240 per share |
| Lot Size | 62 Shares |
| Total Issue Size | 2,16,00,876 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | [●] shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | [●] shares of ₹5 (aggregating up to ₹250.00 Cr) |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 62,49,999(28.9%) |
| QIB | 43,85,964(20.3%) |
| NII | 32,89,474(15.2%) |
| bNII | 21,92,983(10.1%) |
| sNII | 10,96,491(5.1%) |
| Retail | 76,75,439(35.5%) |
| Total | 2,16,00,876(100%) |
Kross IPO Timeline
| IPO Open | 9th September 2024 |
| IPO Close | 11th September 2024 |
| Basis Of Allotment | 12th September 2024 |
| Initiation of Refunds | 13th September 2024 |
| Credit of Shares to Demat | 13th September 2024 |
| Listing Date | 16th September 2024 |
Fundamentals
Data as of 31st March 2024
| Market Cap | ₹1,548.23 Cr | P/E Ratio- Pre IPO | 28.93 |
| RoNW | 30.57% | P/E Ratio- Post IPO | 34.5 |
| RoCE | 28.15% | P/B Ratio | 8.84 |
| Debt to Equity | 0.80 | PAT Margin% | 7.22% |
Note: P/E Ratio -Pre IPO is calculated based on Pre-issue Shareholding and FY Earnings of March 2024. P/E Ratio- Post IPO is calculated based on Post-issue shareholding and annualized FY Earnings of March 2024.
Kross IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Funding of capital expenditure requirements of the Company towards 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.
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