Mumbai: Kross IPO, a book built issue of Rs 500 crore, opens for subscription on September 9, 2024 and the process will be open till September 11. The company which manufactures and supplies trailer axles and suspensions has fixed the price band in the range of Rs 228 to Rs 240 per share.
The public offer is a combination of a fresh issue of 1.04 crore shares, while offer for sale of 1.04 crore shares. The interested retail investors are required to bid for a minimum lot size of 62 shares for which minimum investment is Rs 14,880. The Non-institutional bidders (sNII) are mandated to bid for a minimum lot size of 14 lots, worth Rs 208,320, while bNIIs will have to apply for 68 lots for which the investment amount is Rs 1,011,840.
Kross IPO GMP, allotment
Investorgain reported that Kross IPO stands at Rs 0 on September 6 morning. As per the grey market price, the shares are expected to list with zero premium. However, it has to be seen if investors get interested as the IPO opens for subscription on September 9.
Kross IPO allotment is likely to take place on September 12, 2024, while the initiation of refunds process might begin on 13th September. The shares are expected to be creidted to the demat accounts of eligible shareholders on September 13. Kross shares will list on BSE, NSE with a tentative date fixed for September 16, 2024.
Kross IPO book running lead manager: Equirus Capital Private Limited. Kfin Technologies Limited is the registrar for the issue.
Kross Limited came into existence in 1994. The company specialises in manufacturing forging components for the top OEMs and Tier 1 companies. The company manufactures axles, suspensions, landing gears, king pins, hydraulic lift assembly, rear axle assembly, spindle front axle for tractors. It also makes components for trucks, like parts meant for fitting in the transmission, rear axle assembly, steering assembly, gear shifting mechanism and chassis.
Kross Ltd 2023-24 financials
PARTICULARS
(2023-2024)
(Rs in Mn)
Revenue from Operations
6202.5
Other Income
12.14
Total Revenue
6214.64
Total Expenses
5601.74
Profit Before Tax
612.9
Current Tax
154.89
Current Tax of earlier year
5.6
Deferred Tax
3.6
Profit After Tax
448.81
Basic & Diluted Earning Per Share
830
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Kross IPO to open for subscription on September 9, 2024. The IPO price has been fixed at Rs 228 to Rs 240 per share. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
