Kross Limited IPO Details | Kross IPO | Kross Ltd IPO | Finance Fit
Kross Limited IPO Details | Kross IPO | Kross Ltd IPO | Finance Fit
Kross Limited, a company established in 1991 and previously known as Kross Manufacturers (India) Private Limited, specializes in manufacturing and supplying trailer axles, suspensions, and a variety of high-performance, precision-machined parts for medium and heavy-duty commercial vehicles, as well as agricultural equipment. Their product range includes axle shafts, companion flanges, anti-roll bars, suspension linkages, and many other critical components used in M&HCVs and tractors.
Kross Limited's products are widely used by major original equipment manufacturers (OEMs) in the commercial vehicle and tractor industries. The company operates five manufacturing facilities in Jamshedpur, Jharkhand, all of which are ISO 9001:2015 certified. These facilities are equipped with advanced machinery, including forging presses, high-precision machining centers, robot welding systems, and state-of-the-art painting and heat treatment systems. They have the capability to produce forgings weighing up to 40 kg.
Kross Limited is set to launch its IPO, with a total issue size of Rs 500.00 crores. The IPO consists of a fresh issue of 1.04 crore shares, raising Rs 250.00 crores, and an offer for sale of another 1.04 crore shares, also aggregating to Rs 250.00 crores. The IPO will be open for subscription from September 9, 2024, to September 11, 2024, with a price band set at ₹228 to ₹240 per share. The company’s shares are expected to list on the BSE and NSE on September 16, 2024.
Retail investors can apply for a minimum of 62 shares, requiring an investment of ₹14,880. For sNII, the minimum lot size is 14 lots (868 shares), requiring an investment of ₹208,320, while for bNII, the minimum is 68 lots (4,216 shares), amounting to ₹1,011,840. The allotment of shares is expected to be finalized on September 12, 2024. As of June 30, 2024, Kross Limited had 528 permanent employees.
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