The Kross Ltd IPO, an automobile component manufacturer, has gained attention from investors. With the share allotment process now complete, investors are eagerly awaiting the listing of Kross Ltd shares next week.
Kross IPO Listing Date
The shares of Kross Ltd are set to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 16. Investors who have been allotted shares are now closely watching the grey market premium (GMP) to get an idea of the potential listing price.
GMP Today
Today, the grey market premium (GMP) for Kross IPO has dropped to ₹38 per share. This means that shares are trading ₹38 higher in the grey market compared to the issue price. Based on this, the estimated listing price of Kross shares is ₹278 per share, which is 16% higher than the issue price of ₹240.
Kross IPO Details
The bidding for Kross IPO opened on September 9 and closed on September 11. Allotments were finalized on September 12, and the shares will be listed on September 16. The price band for the IPO was set between ₹228 and ₹240 per share. At the upper price band, the company raised ₹500 crore. The offering included both a fresh issue of 1.04 crore shares worth ₹250 crore and an offer-for-sale (OFS) of the same amount.
IPO Subscription
The Kross IPO received strong demand from investors, with the overall subscription reaching 16.81 times. The retail investor portion was subscribed 10.76 times, non-institutional investors (NII) subscribed 22.24 times, and qualified institutional buyers (QIBs) subscribed 23.32 times.
Equirus Capital Pvt Ltd is the lead manager for the Kross IPO, and Kfin Technologies is serving as the IPO registrar.
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