Kross IPO GMP, Price, Date, Allotment

Last updated on September 16, 2024

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

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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

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Kross Financial Performance

	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

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Kross Offer News

• Kross Limited RHP
• Kross Limited DRHP
• ASBA IPO Forms
• Live IPO Subscription Status
• IPO Allotment Status

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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

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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

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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

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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.

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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

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Kross IPO Allotment Status

Kross IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.

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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 257.65 per share (up 7.35%)

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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
Choice Broking – Subscribe with Caution
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

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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: [email protected]
Website: www.equirus.com

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Kross Offer Registrar

KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com

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Kross Contact Details

KROSS LIMITED
M-4, Phase VI, Gamharia, Adityapur Industrial
Area, Jamshedpur – 832108, Jharkhand, India
Phone: +91 0657 2203812
Email: [email protected]
Website: www.krosslimited.com

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Kross IPO FAQs