Kross Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹228 - ₹240
- Lot size
- 62 shares
- Issue amount
- ₹500 cr
- Total subscription
- 17.69×
- Opens
- 9 Sept 2024
- Closes
- 11 Sept 2024
- Allotment
- 12 Sept 2024
- Listing
- 16 Sept 2024
Offer at a glance
Issue overview
- Issue size
- 2,08,33,332 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹14,136
- Fresh issue
- ₹250 cr
- Offer for sale
- ₹250 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,880
- Issue type
- Bookbuilding IPO
- Shares before issue
- 5,40,92,756
- Shares after issue
- 6,45,09,423
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 62 | ₹14,880 |
| sHNI | 14 | 868 | ₹2,08,320 |
| bHNI | 68 | 4,216 | ₹10,11,840 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs(10L +) | 2,400 | 11,280 |
| HNIs (2-10L) | 1,200 | 27,403 |
| RETAIL | 1,17,608 | 13,11,165 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 100 | 2,454.76 |
| RETAIL | 175 | 1,982.24 |
| NIB | 75 | 1,755.53 |
| HNIs 2+ | 25 | 594.99 |
| HNIs 10+ | 50 | 1,160.53 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 8.3 | 5.72 | 2.25 |
| ROE | 30.57 | 30.29 | 16.81 |
| ROCE | 28.15 | 27.51 | 14.97 |
| RONW | 30.57 | 30.29 | 16.81 |
| PRE IPO(PE) | 28.93 | 0 | 0 |
| POST IPO(PE) | 34.5 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Kross Limited, established in 1991 and formerly known as Kross Manufacturers (India) Private Limited, is a specialized manufacturer of trailer axles, suspensions, and a wide range of high-precision forged and machined components used in medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment. Its product lineup includes axle shafts, companion flanges, anti-roll bars, stabilizer bar assemblies, suspension linkages, bevel gears, differential spiders, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and various tractor components such as hydraulic lift arrangement parts, PTO shafts, and front axle spindles. Serving leading OEMs in the M&HCV and tractor segments, along with domestic dealers and trailer axle manufacturers, the company operates five ISO 9001:2015 certified manufacturing units in Jamshedpur, Jharkhand. These facilities feature advanced forging presses, precision machining systems, a modern foundry with a high-pressure moulding line, and robust finishing capabilities including cathodic electro dip painting, powder coating, and heat treatment. As of June 30, 2024, Kross Limited employs 528 permanent staff members.
Strengths
- Experienced Leadership: Our knowledgeable and experienced management team guides the company with a clear vision and smart decision-making.
- Skilled Workforce: Our talented and dedicated employees deliver top-quality products with efficient operations.
- Advanced Facilities: Our modern manufacturing plants in Jamshedpur, equipped with the latest technology, boost production and ensure smooth logistics.
Risk factors
- Customer Dependency Risk: More than 66% of the company's revenue comes from its top five customers. Losing any major customer could seriously affect the company's earnings.
- Industry Demand Risk: The company's products are mainly used in vehicles. If vehicle sales by its customers drop, it could hurt the company's business and profits.
- Product Reliance Risk: A big share of the company's revenue comes from trailer axle and suspension assemblies for medium and heavy commercial vehicles (M&HCV). Changes in regulations or technology could impact sales and cash flow.
Promoters
Sudhir Rai
Anita Rai
Registrar & documents
Lead manager
Equirus Capital Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur - 832108
+91 0657 2203812
[email protected]Company website ↗Understanding KROSS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.