The Kross IPO, which is a book-built issue, aims to raise a total of ₹500.00 crore. Specifically, this includes a fresh issue of ₹250.00 crore, as well as an offer for sale worth ₹250.00 crore. In terms of the timeline, the subscription period for the Kross IPO will begin on September 9, 2024, and will close on September 11, 2024.
Table of contents
- Kross IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Crores)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- Kross IPO GMP (Grey Market Premium)
- Kross IPO Application Form PDF
- Kross IPO Subscription Status
- Kross IPO Allotment Status
- IPO Review
- Kross IPO Registrar
- Kross IPO Lead Manager
- Kross Limited Contact
- FAQs
Kross IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | Kross Limited |
| Industry | Manufacturing (Machinery & Equipments) |
| IPO Issue Type | Book Built Issue |
| Open Date | September 09, 2024 |
| Close Date | September 11, 2024 |
| Total Issue Size | ₹500.00 Crores |
| Face Value | ₹5 Per Equity Share |
| Fresh Issue | ₹250.00 Crores |
| Price Band | ₹228 to ₹240 Per Share |
| Listing on | BSE & NSE |
| Lot Size | 62 shares |
| Offer for Sale | ₹250.00 Crores |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Kross Limited, formerly known as Kross Manufacturers (India) Private Limited and established in 1991, specializes in manufacturing and supplying trailer axles, suspensions, and a broad range of high-performance forged and precision-machined safety-critical parts for medium and heavy-duty commercial vehicles (M&HCVs) and agricultural equipment.
The company’s diverse product portfolio includes, for instance, axle shafts, companion flanges, anti-roll bars, stabilizer bar assemblies, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and various tractor components such as hydraulic lift arrangement parts, power take-off (PTO) shafts, and front axle spindles.
Moreover, Kross Limited supplies its products to major original equipment manufacturers (OEMs) in the M&HCV and tractor sectors, as well as to domestic dealers and manufacturers of trailer axles and suspensions that serve OEMs in the M&HCV segment.
In terms of production capabilities, the company operates five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand, with the ability to produce forgings weighing up to 40 kg. These facilities are equipped with (i) forging presses and upsetting lines with induction heating for billets; (ii) a foundry featuring a high-pressure molding line; (iii) high-precision machining equipment, including turning centers, vertical and horizontal milling centers, grinding, broaching, hobbing, and shaping machines, as well as robot welding systems; (iv) an in-house cathodic electro dip (CED) painting system, in addition to powder coating and spray painting capabilities; and (v) heat treatment furnaces and induction hardening systems.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | September 9, 2024 |
| IPO Close Date | September 11, 2024 |
| Basis of Allotment | September 12, 2024 |
| Refunds | September 13, 2024 |
| Credit to Demat Account | September 13, 2024 |
| IPO Listing Date | September 16, 2024 |
Financials (₹ in Crores)
| 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 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 62 | ₹14,880 |
| Retail (Max) | 13 | 806 | ₹1,93,440 |
| S-HNI (Min) | 14 | 868 | ₹2,08,320 |
| B-HNI (Min) | 68 | 4216 | ₹10,11,840 |
The objective of the Issue
- To fund capital expenditure needs, specifically for acquiring machinery and equipment.
- Additionally, to repay or prepay, either in full or partially, certain outstanding borrowings from banks and financial institutions.
- Furthermore, to support the company’s working capital requirements.
- Lastly, for general corporate purposes.
Company Promoters
- Mr. Sudhir Rai
- Mrs. Anita Rai
Kross IPO GMP (Grey Market Premium)
Curious about the latest Grey Market Premium (GMP) for the Kross IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including Kross Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
Kross IPO Application Form PDF
To download the Kross IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
Kross IPO Subscription Status
This IPO subscription kicks off on September 9, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Kross IPO Allotment Status
To check the Kross IPO allotment status go to the IPO registrar website Kfintech or go to IPO Allotment.
To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- We have established long-term relationships with OEMs, suppliers, dealers, and fabricators, supported by a broad network for trailer axle and suspension assemblies.
- Our company is recognized as a leading manufacturer of trailer axles and suspensions in India, and uniquely capable of in-house production.
- We offer a diverse product portfolio with a focus on continuous value addition.
- Our integrated manufacturing operations and in-house design capabilities deliver scale, flexibility, and comprehensive solutions.
- We boast a strong track record of sustained growth and financial performance.
Risks:
- Over 68% of revenue in recent periods comes from the top five customers. Losing a major customer or experiencing reduced demand might negatively impact the business and financial health.
- The demand for products is closely tied to vehicle sales trends. A drop in sales could adversely affect the company’s performance.
- A large portion of revenue is derived from trailer axles and suspension assemblies for M&HCVs. A decrease in demand for these products could affect the business and finances.
- Manufacturing facilities face operational risks. Shutdowns or production issues could lead to reduced sales and financial difficulties.
- All manufacturing facilities are located in the same area. Disruptions in this region could impact the company’s business and financial results.
Kross IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222/18003094001
E-mail: bhfl.ipo@kfintech.com
Website: www.kfintech.com
Kross IPO Lead Manager
Equirus Capital Private Limited
12th Floor, C Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai – 400 013
Phone: +91 22 4332 0700
Email: contact@equirus.com
Website: https://www.equirus.com/
Kross Limited Contact
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/
FAQs
Additionally, The Kross IPO is a main-board offering of equity shares with a face value of ₹5, aimed at raising up to ₹500.00 crore. The issue price per share is yet to be announced. Additionally, details regarding the minimum order quantity are pending.
The Kross IPO will open for subscription on September 9, 2024, and will close on September 11, 2024.
At this time, the lot size and minimum order quantity for the Kross IPO have not been disclosed. Please check back later for updates.
The Basis of Allotment for the Kross IPO will be finalized on Thursday, September 12, 2024. Consequently, allotted shares will be credited to your demat account by Friday, September 13, 2024. You can then check the allotment status.
Although the official listing date for the Kross IPO has not been announced, it is tentatively set for Monday, September 16, 2024.
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