On September 9, the very first day of the bidding process opening, Kross IPO stood subscribed 0.95 times – in other words, almost fully. And it is quite possible that by the time you read it the issue has been oversubscribed. In the retail category the IPO has been subscribed 1.62 times. The subscription status in the other categories are Qualified Institutional Buyers (QIB) 0.00 times and 0.64 times in Non-Institutional Investors (NII).
Kross issue details
Kross is a manufacturer of trailer axles, suspensions and critical parts for medium and heavy-duty commercial vehicles and agricultural equipment. It has floated a book-built issue of Rs 500 crores comprising equal parts of fresh issue and OFS.
Bidding will close on September 11. Allotment will finalised on September 12. Listing will take place on both BSE and NSE on September 16.
Kross price, GMP
An equity share has been priced at Rs 228-240. The minimum lot size is 62 shares for a retail investor, which entails investment of Rs 14,880. According to investorgain, the GMP stood at Rs 48 on the morning of September 10. It indicates a listing gain of 20%. However, it must be remembered that GMP is an unofficial estimate only and also changes with time.
Tolins Tyres GMP, Price
According to investorgain, the GMP stood at Rs 39 on September 10, and considering the issue price of Rs 226, it indicates a listing margin of 17.25%.
The price of an equity share has been fixed at Rs 215-226. The minimum lot that a retail investor can subscribe to is 66 shares that would cost Rs 14,916 at the upper end of the price band.
Tolins Tyres issue details
This mainline IPO that opened on September 9 will close on September 11. It has a fresh issue of Rs 200 crore and OFS of Rs 30 crore. The share is to be listed both on BSE and NSE on September 16.
Tolins Tyres was set up in July 2003. It manufactures new tyres and tread rubber for two-wheelers, three-wheelers and light commercial vehicles. It offers tyre reading services across India and has as many as 40 countries in its export destinations.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Both Kross and Tolins Tyres IPO are going to list on both BSE and NSE on September 16, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
