Kross IPO subscription status started on September 09, 2024, and closed on September 11, 2024. The company aims to raise approximately ₹500 crore via this IPO. The retail quota is 35%, NII 15% and QIB is 50%. The price band is fixed at ₹228 to ₹240 per equity share.
The IPO consists of a minimum market lot of 62 Shares requiring an application amount of ₹14,880. Kross IPO is a Mainboard IPO, and it will be listed on the NSE & BSE.
Table of contents
IPO Overview
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.
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We advise investors to consider applying for an IPO with a long-term perspective. It’s also important to review the QIB, NII, and Retail subscription figures before making an investment decision.
Kross IPO Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00 | 0.03 | 24.55 |
| NII | 0.64 | 3.03 | 23.40 |
| RII | 1.62 | 4.15 | 11.26 |
| Total | 0.95 | 2.73 | 17.66 |
Kross IPO Investor Categories
- Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, Mutual Funds
- Non-Institutional Investors (NII): Individual Investors, NRIs, Companies, Trusts, etc.
- Retail Individual Investors (RII): Retail Individual Investors or NRIs
- Employee (EMP): Eligible Employees
- Others: Eligible Shareholders
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Kross IPO Form
To apply for the Kross IPO, use ASBA via your bank’s online portal or download and submit IPO forms through your bank or broker.
FAQs
The IPO subscription starts on September 09, 2024, for NII, QIB, and Retail Investors.
You can apply through ASBA and non-ASBA options via your bank account, broker, or UPI app.
Visit our portal for live IPO subscription numbers updated hourly. Live data is also available on the official IPO page.
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