The Kross IPO opens on September 9, 2024, and closes on September 11, 2024. This IPO follows a Book Built Issue process, with the company aiming to raise approximately ₹500 crores. This includes a fresh issue of ₹250 crores and an offer for sale of up to ₹250 crores, with a total of 10,416,667 equity shares offered at a face value of ₹5 per share.
The price band for the Kross IPO is set between ₹228 and ₹240 per share. The retail investor quota is 35%, while Qualified Institutional Buyers (QIB) have a 50% quota, and High Net-worth Individuals (HNI) have a 15% quota. Kross shares are expected to list on the BSE and NSE on September 16, 2024, with the allotment date set for September 12, 2024.
In terms of financial performance, the company reported a revenue of ₹621.46 crores in 2024, up from ₹489.36 crores in 2023. Their profit for 2024 stands at ₹44.88 crores, compared to ₹30.93 crores in 2023. Given the company’s financial trajectory, long-term investors may find the IPO a worthwhile opportunity.
Kross IPO Details
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹228 to ₹240 Per Share |
| Issue Size: | Approx ₹500 Crores |
| Fresh Issue: | Approx ₹250 Crores |
| Offer for Sale: | Approx 10,416,667 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
Kross IPO Objectives:
The company plans to use the net proceeds from the IPO for the following purposes:
Funding the capital expenditure required for purchasing machinery and equipment.
Repaying or prepaying, either partially or fully, certain outstanding loans from banks and financial institutions.
Meeting the company’s working capital requirements.
Supporting general corporate purposes.
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Kross IPO Review (Should You Apply?)
Review coming soon.
Kross IPO Lot Size:
The minimum lot size for the Kross IPO is 62 shares, with a required investment of ₹14,880. Retail investors can apply for a maximum of 13 lots, totaling 806 shares, which requires an investment of ₹193,440.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 62 | ₹ 14,880 |
| Retail Maximum | 13 | 806 | ₹ 1,93,440 |
| S-HNI Minimum | 14 | 868 | ₹ 2,08,320 |
| B-HNI Minimum | 68 | 4,216 | ₹ 10,11,840 |
Kross IPO Timeline:
The Kross IPO will open on September 9 and close on September 11, 2024. Share allotment is expected to be finalized by September 12, 2024, with the company’s listing scheduled for September 16, 2024.
| 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 |
Promoters of Kross IPO
Kross Limited is promoted by Sudhir Rai and Anita Rai.
About Kross Limited
Established in 1994, Kross Limited specializes in manufacturing high-performance safety components for the tractor, trailer axle, and commercial vehicle industries. The company operates five state-of-the-art manufacturing facilities in Jamshedpur, Jharkhand, outfitted with advanced machinery like upsetters, forging presses, precision machining tools, foundries, and specialized software for customized solutions.
Kross Limited caters to a wide range of clients, including major original equipment manufacturers (OEMs), domestic dealers, and fabricators. The company produces a wide variety of components and can manufacture forged parts weighing up to 40 kg. Kross is also expanding its current facilities and adding new production lines to enhance its product offerings and increase capacity.
Kross IPO Company Financial Report
In 2024, the company reported revenue of ₹621.46 crores, up from ₹489.36 crores in 2023. Profits also grew, with a reported ₹44.88 crores in 2024 compared to ₹30.93 crores in 2023.
| Amount in cr | ||||
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹ 297.88 | ₹ 281.57 | ₹ 12.17 | ₹ 197.82 |
| 2023 | ₹ 489.36 | ₹ 447.65 | ₹ 30.93 | ₹ 250.57 |
| 2024 | ₹ 621.46 | ₹ 560.17 | ₹ 44.88 | ₹ 352.00 |
Kross IPO Valuation – FY2024
Check Kross IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 30.57% |
| ROCE: | 28.15% |
| EBITDA Margin: | 13.02% |
| PAT Margin: | 7.22% |
| Debt to equity ratio: | 0.8 |
| Earning Per Share (EPS): | ₹8.30 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.57% |
| Net Asset Value (NAV): | ₹ 27.14 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Ramkrishna Forgings Limited | 20.27 | 46.55 | 12.72 | 148.48 | 3954.88 Cr. |
| Jamna Auto Industries Limited | 5.15 | 24.3 | 22.74 | 22.64 | 2426.77 Cr. |
| Automotive Axles Limited | 109.95 | 17.05 | 18.97 | 579.63 | 2229.17 Cr. |
| GNA Axles Limited | 23.28 | 17.32 | 12.47 | 186.69 | 1506.26 Cr. |
| Talbros Automotive Components Limited | 17.82 | 19.03 | 20.47 | 87.02 | 778.27 Cr. |
Kross IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: krosslimited.ipo@kfintech.com
Website: KFin Technologies IPO Status
IPO Lead Manager (Merchant Banker)
Equirus Capital Private Limited
Company Address
Kross Limited
M-4, Phase VI, Gamharia,
Adityapur Industrial Area,
Jamshedpur – 832108
Phone: +91 0657 2203812
Email: investors@krossindia.com
Website: Kross Limited
Kross IPO FAQs
What are the Kross IPO opening and closing dates?
The Kross IPO will open on September 9, 2024, and close on September 11, 2024.
What is the Kross IPO price band?
The price band is set between ₹228 and ₹240 per share.
What is the lot size for the Kross IPO?
The minimum lot size is 62 shares, requiring an investment of ₹14,880.
How much can a retail investor apply for in the Kross IPO?
Retail investors can apply for up to 13 lots, totaling 806 shares, or ₹193,440.
What is the allocation for different investor categories?
The allocation is 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).
When will the Kross IPO allotment be finalized?
The allotment of shares is expected to be finalized on September 12, 2024.
When will Kross shares be listed on stock exchanges?
Kross Limited shares are scheduled for listing on the BSE and NSE on September 16, 2024.
What is the total issue size of the Kross IPO?
The total issue size is approximately ₹500 crores, with ₹250 crores as a fresh issue and an offer for sale of up to ₹250 crores.
Who are the promoters of Kross Limited?
The promoters are Sudhir Rai and Anita Rai.
