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Kross IPO

  • Status: Closed
  • RHP:
  • ₹ 14,136 / 62 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    16 Sep 2024

  • Listing Price

    ₹240.00

  • Listing Change

    0.00%

  • Last Traded Price

    ₹217.90

IPO Details

  • Open Date

    09 Sep 2024

  • Close Date

    11 Sep 2024

  • IPO Price Range

    ₹ 228 to ₹ 240

  • IPO Size

    ₹ 500.00 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    16 Sep 2024

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Kross IPO Subscription Status

Last Updated: 11 September 2024 6:19 PM by 5Paisa

Last Updated: 11th September 2024, 06:17 PM by 5paisa

Kross IPO is set to open on 09 September 2024 and will close on 11 September 2024. Kross Limited is a company that produces and provides trailer axles and suspensions, along with a broad selection of high-performance forged and precision-machined parts critical for safety, designed for medium and heavy duty commercial vehicles and agricultural machinery.

The IPO includes a fresh issue of  1.04 crore shares aggregating ₹250 Cr and an offer for sale of  1.04 crore shares aggregating ₹250.00 Cr. The price range is set between ₹228 to ₹240 per share and the lot size is 62 shares. 

The allotment is scheduled to be finalized on 12 September 2024. It will go public on BSE & NSE, with a tentative listing date of 16 September 2024.

Equirus Capital Private Limited is the book-running lead manager, while Kfin Technologies Limited is the registrar. 

Kross IPO Size

Types Size (₹Cr)
Total IPO Size 500.00
Offer for Sale 250.00
Fresh issue 250.00

 

Kross IPO Lot Size

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 IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 24.55 41,66,667 10,22,81,462 2,454.76
NII (HNI) 23.31 31,25,000 7,28,40,948 1,748.18
Retail 10.82 72,91,666 7,88,90,784 1,893.38
Total 17.42 1,45,83,333 25,40,13,194 6,096.32

 

Kross IPO Anchor Allocation

Anchor Bid Date 6 September, 2024
Shares Offered 6,249,999
Anchor Portion Size (In Cr.) 150.00
Lock in Period for 50% shares (30 days) 12 October, 2024
Lock in Period for rest of shares (90 days) 11 December, 2024

 

1. Full repayment or prepayment of certain loans.
2. Funding for buying machinery and equipment.
3. Investment in subsidiaries.
4. General corporate purposes.
 

Kross Limited, originally Kross Manufacturers (India) Private Limited was founded in 1991 and specializes in making and supplying trailer axles, suspensions and various high performance parts for medium and heavy-duty commercial vehicles and agricultural equipment. Their product range includes axle shafts, anti-roll bars, suspension linkages, and many other critical components for trucks, tractors, and trailers.

The company provides these products to major manufacturers of commercial vehicles and tractors, as well as to dealers and other companies that supply these vehicles.

Kross Limited operates five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand. These facilities are equipped with advanced machinery for forging, precision machining, and heat treatment, including forging presses, high-pressure moulding lines, and robot welding systems. They also have their own painting and coating systems. As of June 30, 2024, Kross Limited employs 528 permanent staff.

Peers

● Ramkrishna Forgings Ltd.
● Jamna Auto Industries Ltd.
● Automotive Axles Ltd.
● G N A Axles Ltd
● Talbros Automotive Components Ltd.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 621.46 489.36 297.88
EBITDA 80.76  57.52  29.55
PAT 44.88 30.93 12.17
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 352 250.57 197.82
Share Capital 27.05  13.52 13.52
Total Borrowings 117.9 88.26 86.06
Particulars (in Rs. Crores) FY24(Consolidated) FY23 (Standalone) FY22 (Standalone)
Net Cash Generated From / (used in) operating activities 8.25 41.75  17.54
Net Cash Generated From / (used in) investing activities -30.40  -18.70 -11.90
Net Cash Generated From / (used in) financing activities 14.81  -10.57 -5.51
Net Increase (Decrease) In Cash And Cash Equivalents -7.34 12.38 0.03


Strengths

1. The company have long-standing partnerships with major OEMs, suppliers and domestic dealers for our trailer axle and suspension business, supported by a broad network of dealers.

2. The company is recognized as a top manufacturer of trailer axles and suspension assemblies in India, with the unique ability to produce these components in-house.

3. Its integrated manufacturing and in-house design capabilities provide scale, flexibility, and comprehensive solutions.

4. The company has shown sustained growth and strong financial performance over the last three years.
 

Risks

1. A portion of Kross Limited's revenue comes from a few major OEMs. Any reduction in orders from these customers could impact the company's financial performance.

2. Fluctuations in the cost of raw materials, especially steel, could affect profit margins and overall profitability.

3. The company faces intense competition from both domestic and international players. Failing to keep up with technological advancements could impact its market position.
 

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FAQs

Kross IPO opens from 9 September to 11 September 2024.

The size of Kross IPO is ₹500.00 crores.

The price of Kross IPO is fixed at ₹228 to ₹240 per share. 

To apply for Kross IPO, follow the steps given below:

1. Login to your 5paisa account and select the issue in the current IPO section    
2. Enter the number of lots and the price at which you wish to apply for the Kross IPO.    
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Kross IPO is 62 shares and the minimum investment required is ₹₹14,136.
 

The share allotment date of Kross IPO is 12 September 2024

The Kross IPO will be listed on 16 September 2024.

Equirus Capital Private Limited is the book-running lead manager for Kross IPO.

Kross plans to utilize the raised capital from the IPO for:

1. Full repayment or prepayment of certain loans.
2. Funding for buying machinery and equipment.
3. Investment in subsidiaries.
4. General corporate purposes.