Kross IPO will open for subscription from 09 September 2024. The company aims for an issue size of ₹500 Cr through this IPO.
Company Overview
| Full name | Kross Limited |
| Sector | Automobile & Ancillaries |
| Industry | Auto Ancillary |
| Company Website | https://www.krosslimited.com/ |
About Company
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.
The Objectives of the Issue
- Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
- 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;
- Funding working capital requirements of the Company; and
- General corporate purposes
Kross IPO Timetable
| IPO Opening date | 09 September 2024 |
| IPO Closing | 11 September 2024 |
| Basis of Allotment | 12 September 2024 |
| Initiation Refund | 13 September 2024 |
| Credit to Demat Account | 13 September 2024 |
| Listing Date | 16 September 2024 |
Kross IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹500.00 Cr – 20,833,334 shares |
| Fresh Issue | ₹250.00 Cr – 10,416,667 shares |
| Offer for sale | ₹250.00 Cr – 10,416,667 shares |
| Face value | ₹05 per share |
| Price Band | ₹228 to ₹240 per share |
| Lot size | 62 Shares |
| Shareholding pre-issue | 54,092,756 |
| Shareholding post-issue | 64,509,423 |
| Listing Exchange | BSE & NSE |
Kross IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 62 | ₹14,880 |
| Retail (Max) | 13 | 806 | ₹193,440 |
| S-HNI (Min) | 14 | 868 | ₹208,320 |
| S-HNI (Max) | 67 | 4,154 | ₹996,960 |
| B-HNI (Min) | 68 | 4,216 | ₹1,011,840 |
Kross Offer Documents
Kross IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
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 |
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 – 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 |
Company Promoters
- Sudhir Rai
- Anita Rai
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Kross Offer GMP Update
Coming Soon
Kross IPO Subscription Update
Coming Soon
Kross IPO Allotment Status
Kross IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Kross IPO Listing Details
| Listing Date | 16 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Kross Listing Day Update
| Listing Exchange | BSE & NSE |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
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| Last Trade |
Kross IPO Lead Manager(s)
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: kross.ipo@equirus.com
Website: www.equirus.com
Kross 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: krosslimited.ipo@kfintech.com
Website: www.kfintech.com
Kross Contact Details
KROSS LIMITED
M-4, Phase VI, Gamharia, Adityapur Industrial
Area, Jamshedpur – 832108, Jharkhand, India
Phone: +91 0657 2203812
Email: investors@krossindia.com
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. 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 ₹ NA per share.
What is the Kross kostak rate today?
Kross kostak rate today is ₹ NA per application.
What is Kross Subject to Sauda rate today?
Kross Subject to Sauda rate today is ₹ NA per application.
Final thoughts
Kross IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
