Auto Parts Giant Kross Raises ₹150 Crore in Anchor Round Ahead of IPO—Here’s What You Need to Know

Kross Ltd, also known as Kross Manufacturers (India) Private Limited, has raised nearly ₹150 crore (₹149.99 crore) from investors in an anchor round before its initial public offering (IPO). This was confirmed in the company’s press release.

According to an exchange filing, Kross has allocated 62.49 lakh equity shares to 19 anchor investors at a price of ₹240 per share. These shares have a face value of ₹5 each.

The anchor investors include big names like EastSpring Investments, Matthews Asia Funds, LIC MF, ICICI Prudential, Axis Mutual Fund, Kotak Mahindra Trustee, Alps/Kotak India, Invesco India, Motilal Oswal, Optimix, Natixis, Edelweiss, Max Life Insurance, and BOI MF.

Some of the largest allocations went to ICICI Prudential, Kotak Mahindra Trustee, and EastSpring Investments, who received 8.67% of the anchor issue.

Of the 62.49 lakh shares allocated, 39.16 lakh were given to nine domestic mutual funds through 13 different schemes.

Kross IPO Details:

• The IPO will be open for subscription from Monday, September 9, to Wednesday, September 11.
• The price range is between ₹228 and ₹240 per share.
• Kross Ltd aims to raise ₹500 crore through the IPO, with ₹250 crore coming from fresh shares and ₹250 crore from an offer for sale (OFS).
• The funds will be used for capital expenses, repaying loans, covering working capital needs, and general corporate purposes.

Kross Ltd, based in Jamshedpur, manufactures trailer axle and suspension assemblies along with high-performance, safety-critical parts for commercial vehicles and farm equipment.

Equirus Capital Private Limited is managing the IPO, and Kfin Technologies Limited is handling the registrar duties.