Kross Limited IPO

Mainboard

Tyres & Rubber Products

Listed On: Sep 16, 2024 at ₹ 240.0(NSE)

₹ 14880 /62 Shares

Check Allotment

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date

Price Summary

Last Closing

175.00 (-27.08%)

52 Week High

246.60

52 Week Low

150.06

Last Update

7-Nov-2025 3:30 PM

Kross Limited IPO Issue Details

Issue Price ₹228-240 per equity share
Face Value ₹5 Per Equity Share
Total Issue Size 2,08,33,334 shares(aggregating up to ₹500 crore)
Fresh Share 1,04,16,667 shares(aggregating up to ₹250 crore)
Offer For Sale 1,04,16,667 shares(aggregating up to ₹250 crore)
Listing at BSE, NSE
List Price 240.0(NSE)
Listing Date 2024-09-16
Lead Manager Equirus Capital Private Limited
Registrar Kfin Technologies Limited

Market Lot Size

Investors can bid for a minimum of 62 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	62	₹14,880
Retail(max)	13	806	₹1,93,440

Kross Limited IPO Reservation

Kross Limited IPO offers total 2,08,33,332 shares. Out of which 41,66,667 (20%) allocated to QIB, 31,25,000 (15%) allocated to NII,72,91,666 (35%) allocated to RII, NA (NA%) allocated to employees and 62,49,999 (30%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	62,49,999 (30%)
QIB Shares Offered	41,66,667 (20%)
NII (HNI) Shares Offered	31,25,000 (15%)
bNII < ₹10L	20,83,534 (10%)
sNII < ₹10L	10,41,466 (5%)
Retail Shares Offered	72,91,666 (35%)
Total Shares Offered	2,08,33,332 (100%)

Kross Limited IPO Documents

DRHP

RHP

ANCHOR

Kross Limited IPO Details

Kross Limited IPO is a book-built issue of ₹500 crores, The total issue size is ₹500 crores. The IPO of Kross Limited is priced at ₹228-240 per equity share, which has a face value of ₹5 Per Equity Share each, IPO bidding starts from Sep 9, 2024 and ends on Sep 11, 2024. The allotment for Kross Limited IPO will be finalized on Sep 12, 2024. Kross Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 16, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 62 shares, extendable to 14,880. The book-running lead manager for the IPO is/are Equirus Capital Private Limited.

The total issue ₹500 crore, comprising a fresh issue of 1,04,16,667 shares ₹250 crore and having Offer for Sale (OFS) of 1,04,16,667 shares to mop up ₹250 crore.

The Kross Limited IPO sets its price band at 228-240 for each share. A single application for Kross Limited IPO must contain at least 62 shares. Sentiment investors need to invest a minimum of 62 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,880

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	4,166,667	3,125,000 2,083,534 1,041,466	7,291,666	14,583,333
Day 1 09-09-24 05:00 PM	0.00 x	0.59 0.38 x 1.00 x	1.49 x	0.87 x
Day 2 10-09-24 05:00 PM	0.02 x	2.87 2.35 x 3.91 x	3.87 x	2.56 x
Day 3 11-09-24 05:00 PM	23.32 x	22.15 22.05 x 22.34 x	10.31 x	16.56 x

Total No of Applications

13,01,834

Subscription on the basis of Applications

Retail:10.84x BHNI:4.70x SHNI:22.66x

Kross Limited Valuations

EPS Pre IPO 8.3

EPS Post IPO 6.96

P/E Pre IPO 28.93

P/E Post IPO 34.5

ROE 30.57%

ROCE 28.15%

Debt/Equity 0.80

RoNW 30.57%

PAT Margin 7.22

Price to Book Value 8.84

Kross Limited Company Financials

In Crs.

In Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	352.0	250.57	197.82
Revenue	621.46	489.36	297.88
Profit After Tax	44.88	30.93	12.17
Net Worth	146.81	102.11	72.4
Reserves & Surplus	119.76	88.58	58.88
Total Borrowing	117.9	88.26	86.06

About Kross Limited Company

Kross Limited, formerly known as Kross Manufacturers (India) Private Limited, established in 1991, manufactures and supplies trailer axles and suspensions and a wide range of high-performance forged and precision machined safety critical parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment.

The company's product portfolio includes 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 variety of tractor components for the hydraulic lift arrangement, power take-off (PTO) shafts and front axle spindles.

The company supplies its products to major original equipment manufacturers (OEMs) that manufacture M&HCVs and tractors, as well as to domestic dealers and trailer axle and suspension manufacturers that supply OEMs in the M&HCV segment.

Kross Limited has five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand, with the capacity to manufacture forgings weighing up to 40 kg. The production facilities are equipped with (i) forging presses and upsetting lines with induction heating for billets, (ii) a foundry with a high-pressure moulding line, (iii) high precision machining machines like turning centers, vertical and horizontal milling centres, Grinding, broaching, hobbing and shaping machines as well as robot welding systems, (iv) an in-house cathodic electro dip painting system (CED system), powder coating and spray painting and (v) heat treatment furnaces and induction hardening systems.

As of June 30, 2024, the company had 528 permanent employees.

Kross Limited - Promoter(s)

Sudhir Rai

Anita Rai

Pre Issue Share Holding : 100%

Post Issue Share Holding : 67.7%

Kross Limited IPO - Issue Objectives

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

General corporate purposes

Kross Limited IPO - Anchor Investors

Auto parts-maker Kross raises Rs 150 Crores from anchor investors ahead of IPO.

EastSpring Investments, Mathews Asia Funds, LIC Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak Mahindra MF, Motilal Oswal MF, Edelweiss MF and Max Life Insurance Company are among the anchor investors.

Kross Limited IPO - Peers Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
Kross Limited	8.3	8.3	27.14	N/A	30.57	N/A	Standalone
Ramkrishna Forgings Ltd.	20.27	20.09	148.48	46.55	12.72	N/A	Consolidated
Jamna Auto Industries Ltd.	5.15	5.15	22.64	24.3	22.74	N/A	Consolidated
Automotive Axles Ltd.	109.95	109.95	579.63	17.05	18.97	N/A	Consolidated
G N A Axles Ltd	23.28	23.28	186.69	17.32	12.47	N/A	Consolidated
Talbros Automotive Components Ltd.	17.82	17.82	87.02	19.03	20.47	N/A	Consolidated

Notes:

Basic EPS and Diluted EPS refer to the Basic EPS and Diluted EPS sourced from the financial statements of the respective company.
The P/E Ratio has been computed based on the closing market price of equity shares on BSE on August 14, 2024, divided by the Diluted EPS provided.
Return on net worth (RoNW) is computed as profit for the year attributable to common shareholders of the parent divided by net worth (excluding non-controlling interest), as of March 31, 2024.
NAV per equity share has been computed as the Net Worth attributable to common shareholders (excluding non-controlling interest) divided by the total number of shares outstanding, as of March 31, 2024.

Strength

Kross Ltd has longstanding relationships with large OEMs and their tier-one suppliers, domestic dealers and fabricators for the trailer axle and suspension business. These relationships are complemented by a diversified network of dealers for their trailer axle and suspension assembly business.

They have experienced robust growth in the past 3 years, allowing them to be recognised as a major player in the field of trailer axle and suspension manufacturing in India.

They are a diversified player manufacturing a wide range of forging and machined precision components and assemblies. Higher diversity allows them to access and experiment with multiple markets and reduce their long-term risks.

Weakness

The company’s top five customers contributed more than 68% of revenue in the previous three fiscals. The loss of a major customer or reduction in demand from them may adversely affect the business.

All of their five manufacturing facilities are situated at Jamshedpur, Jharkhand. Any issues in the region can disrupt the supply chain of the company entirely.

Contact Details

Kross Limited

M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur - 832108

+91 0657 2203812

investors@krossindia.com

https://www.krosslimited.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

krosslimited.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/

Kross Limited IPO - FAQs

Ans. Kross Limited IPO is a Mainboard IPO. The issue is priced at ₹228-240 per equity share. The minimum order quantity is 62 Shares. The IPO opens on Sep 9, 2024, and closes on Sep 11, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Kross Limited IPO opens on Sep 9, 2024 and closes on Sep 11, 2024.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Kross Limited IPO is Total ₹500.0 Cr : #Fresh Issue : 10,416,667 shares(aggregating up to ₹250.0 Cr) + #OFS : 10,416,667 shares of ₹5(aggregating up to ₹250.0 Cr).

Ans. The Kross Limited IPO price band is set between ₹228-240 per equity share.

Ans. To apply for Kross Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Kross Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Kross Limited IPO is Sep 12, 2024.

Ans. The Kross Limited IPO will be listed on Sep 16, 2024.

Ans. Follow the steps to check the Kross Limited IPO allotment status online.