Kross, a company that manufactures trailer axles and suspension assemblies, is ready to launch its Initial Public Offering (IPO) on September 9, with the subscription period ending on September 11.
Founded in 1991, Kross Limited (previously known as Kross Manufacturers India Pvt. Ltd.) specializes in making trailer axles, suspensions, and other important parts for medium and heavy-duty commercial vehicles and agricultural equipment.
The company has shown strong financial growth recently. In the financial year 2024, Kross reported a 45.1% increase in net profit, reaching ₹44.9 crore. Revenue also went up by 27%, amounting to ₹620.3 crore compared to the previous year. Their earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 40.4%, reaching ₹80.8 crore, with a margin increase of 120 basis points, making it 13% for the year.
Here are 10 important things to know before you subscribe to Kross’s IPO:
- IPO Dates: The Kross IPO opens for bidding on September 9 and closes on September 11.
- Price Band: The price band is set between ₹228 and ₹240 per share.
- Issue Size: The total IPO size is ₹500 crore, with ₹250 crore from a fresh issue of 1.04 crore shares, and ₹250 crore from an offer for sale of 1.04 crore shares.
- Lot Size: Investors need to apply for at least 62 shares, which requires a minimum investment of ₹14,880.
- Promoters: Sudhir Rai and Anita Rai are listed as the company’s promoters.
- Lead Managers: Equirus Capital Private Limited is the book-running lead manager for the IPO.
- Registrar: KFin Technologies is managing the IPO’s registration process.
- Allotment Date: The share allotment is expected to be finalized by September 12.
- Listing Date: Kross shares are expected to be listed on NSE and BSE by September 16.
- Grey Market Premium (GMP): As of now, Kross shares are trading at ₹0 in the grey market.
These points give investors a clear picture of Kross’s IPO before making any decisions.
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