Kross IPO Description – Kross is a diversified player focused on manufacturing and supplying trailer axle and suspension assembly and a wide range of forged and precision machined high-performance safety critical parts for medium and heavy commercial vehicles and farm equipment segments including axle shafts, companion flanges, anti-roll bars and stabilizer bar assembly, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels and a wide variety of tractor components for the hydraulic lift arrangement, power take-off shafts, and front axle spindles.
The company’s manufacturing capacity was 60,000 trailer axle and suspension assemblies per annum. As of 30 June 2024, the company manufactured approximately 10,145 trailer axles and suspension assemblies. As of 30 June 2024, the company’s product development team has 22 employees. Its product development capabilities are supported by design and development tools such as CAD/CAM software, forging simulation software, and finite element analysis.
In each of Fiscal 2024, Fiscal 2023, and Fiscal 2022, Kross invested INR 27.13 crore, INR 18.60 crore, and INR 12.32 crore, representing 4.37%, 3.81%, and 4.14% of the revenue from operations for the respective periods, towards capital expenditure.
Promoters of Kross – Sudhir Rai, Anita Rai, Sumeet Rai and Kunal Rai
Table of Contents
Kross IPO Details
| Kross IPO Dates | 9 – 11 September 2024 |
| Kross Issue Price | INR 228 – 240 per share |
| Fresh issue | INR 250 crore |
| Offer For Sale | INR 250 crore |
| Total IPO size | INR 500 crore |
| Minimum bid (lot size) | 62 shares (INR 14,880) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Kross Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 297.46 | 488.62 | 620.25 |
| Expenses | 281.58 | 447.65 | 560.17 |
| Net income | 12.17 | 30.93 | 44.88 |
| Margin (%) | 4.09 | 6.33 | 7.24 |
Kross Offer News
- Kross Limited RHP
- Kross Limited DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Kross Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 2.25 | 5.72 | 8.30 | 6.96 |
| PE Ratio | – | – | 27.47 – 28.92 | 32.76 – 34.48 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 16.81 | 30.29 | 30.57 |
| NAV | 13.39 | 18.88 | 27.14 |
| ROCE (%) | 14.97 | 27.51 | 28.15 |
| EBITDA (%) | 9.93 | 11.77 | 13.02 |
| Debt/Equity | 1.19 | 0.86 | 0.80 |
Kross IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 14 September 2024 | 30 | – | 1,900 |
| 13 September 2024 | 40 | – | 1,900 |
| 12 September 2024 | 50 | – | 2,100 |
| 11 September 2024 | 50 | – | 2,100 |
| 10 September 2024 | 50 | – | 2,100 |
Kross IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding of capital expenditure requirements of the company towards the purchase of machinery and equipment – INR 70 crore
- Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company, from banks and financial institutions – INR 90 crore
- Funding working capital requirements of the company – INR 30 crore
- General corporate purposes
Kross IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 43,85,964 | 32,89,474 | 76,75,439 | 1,53,50,877 |
| 11 Sep 2024 | 23.32 | 22.12 | 10.19 | 16.50 |
| 10 Sep 2024 | 0.02 | 2.87 | 3.88 | 2.56 |
| 9 Sep 2024 | 0.00 | 0.61 | 1.50 | 0.88 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Kross – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Kross | 34.48 | 8.30 | 30.57 | 27.14 | 620.25 |
| Ramkrishna Forgings | 46.55 | 20.09 | 12.72 | 148.48 | 3,954.88 |
| Jamna Auto Industries | 24.30 | 5.14 | 22.74 | 22.64 | 2,426.77 |
| Automotive Axles | 17.05 | 109.95 | 18.97 | 579.63 | 2,229.17 |
| GNA Axles | 17.32 | 23.28 | 12.47 | 186.69 | 1,506.26 |
| Talbros Automotive Components | 19.03 | 17.82 | 20.47 | 87.02 | 778.27 |
Kross IPO Allotment Status
Kross IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Kross IPO Dates & Listing Performance
| IPO Opening Date | 9 September 2024 |
| IPO Closing Date | 11 September 2024 |
| Finalization of Basis of Allotment | 12 September 2024 |
| Initiation of refunds | 13 September 2024 |
| Transfer of shares to demat accounts | 13 September 2024 |
| Kross IPO Listing Date | 16 September 2024 |
| Opening Price on NSE BSE | INR 240 per share (no change) |
| Closing Price on NSE BSE | INR 259.81 per share (up 8.25%) |
Kross IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities – Subscribe
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Dalal & Broacha –
Elite Wealth – Not rated
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe for long term
ICICIdirect –
Indsec –
Jainam Broking – Avoid
DR Choksey –
LKP Research –
Marwadi Financial –
Systematix Shares –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities – Subscribe for long term
SMC Global – 2/5
SMIFS –
Swastika Investmart – Neutral
Ventura Securities – Subscribe
Kross Offer Lead Manager
EQUIRUS CAPITAL PRIVATE LIMITED
12th Floor, C Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai 400 013, Maharashtra
Phone: +91 22 4332 0700
Email:Â [email protected]
Website:Â www.equirus.com
Kross Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel:Â +91 40 6716 2222
E-mail:Â [email protected]
Website:Â www.kfintech.com
Kross Contact Details
KROSS LIMITED
M-4, Phase VI, Gamharia, Adityapur Industrial
Area, Jamshedpur – 832108, Jharkhand, India
Phone:Â +91 0657 2203812
Email: [email protected]
Website: www.krosslimited.com
Kross IPO FAQs
How many shares in Kross IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How do you apply for a Kross Public Offer?
The best way to apply for Kross public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill out an offline IPO form and deposit it to your broker.
What is Kross IPO GMP today?
Kross IPO GMP today is INR 30 per share.
What is the Kross kostak rate today?
Kross kostak rate today is INR NA per application.
What is Kross Subject to Sauda rate today?
Kross Subject to Sauda rate today is INR 1,900 per application.
