Kross Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

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Kross Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

September 09, 2024
Kross Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

Kross Limited is coming out with an initial public offer to raise Rs. 500 crores from the market.

Below are the details of the Kross Limited IPO:

  • Issue opens – September 09 (Monday)
  • Issue closes – September 11 (Wednesday)
  • Issue size – Rs. 500 crores
  • Price band – Rs. 228 to 240 per equity share
  • Bid lot – 62 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Established in 1991, Kross Ltd. is a prominent manufacturer of a wide range of forged and machined components in India, with a growing export presence globally. It manufactures a wide range of high performance and safety critical components for the commercial vehicle and tractor segment.
  • Kross Ltd is widely recognized as one of the prominent manufacturers of trailer axles & suspension assembly in India. It is one of the few players domestically, with the competency to manufacture trailer axles and suspension assembly-in house.
  • The company has witnessed robust growth between fiscal 2021 and fiscal 2024, enabling the company to compete with major trailer axle manufacturers such as York Transport Equipment Pvt Ltd and BPW Trailer Systems India Pvt Ltd. The company utilises the latest design and manufacturing in developing products, thus enabling it to become one of the fastest growing players in the organised trailer axle manufacturing industry.
  • Kross Ltd. has a diversified product portfolio catering to the commercial vehicle and tractor industry. Key products manufactured by the company are companion flanges, axle shafts, rear end spindles, anti-roll bars, inter-axle kits, suspension linkages, universal joints and crosses, pole wheels, scam shafts and variety of tractor parts for the hydraulic lift arrangement, PTO shafts, and spindle front axles.
  • Kross Ltd. is also a prominent manufacturer of differential spiders in the MH&CV segment.
  • Kross has well equipped 5 manufacturing facilities in Jamshedpur, Jharkhand. Their manufacturing facilities (Units I to V) have obtained ISO 9001:2015 for manufacture of axle shaft, PTO shaft, lift shaft, ring gear, bevel gear assembly and related parts from TÜV NORD CERT GmbH and IATF 16949:2016 quality certifications for manufacture of axle shafts, universal joints etc. from TÜV NORD CERT GmbH.
  • Kross has backward integrated with design, process engineering, forging, casting and machining capabilities which allows them greater control over process, timelines, pricing and quality.

Issue Size : Rs. 500 Cr


Issue break-up :

QIB – 50 % of the offer – Rs. 250.00 Cr.
NIB – 15 % of the offer – Rs. 75.00 Cr.
RET – 35 % of the offer – Rs. 175.00 Cr.

Listing : BSE & NSE

Registrar : KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Wednesday, September 11th, 2024.

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