IPO - Check IPO Date, Price, Lot Size

Kross Ltd IPO

Kross Limited is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide range of forged and precision machined high performance safety critical parts for medium and heavy commercial vehicles (M&HCV) and farm equipment segments. The Company is widely recognized as one of the prominent manufacturers of trailer axles and suspension assembly in India. In 2019, The company commenced manufacture and sale of trailer axle and suspension assemblies and has witnessed robust growth between Fiscal 2021 and Fiscal 2024.

Kross Ltd IPO Details

Total Shares Offered

₹ 2,08,33,333

Offer to Public

1,04,16,666

Retail Max (Shares)

₹ 72,91,666

Pre Issue Promoters Holding

₹ 5,40,91,956

Exchange

BSE

Issue size

₹ 500 Cr

IPO Open Date

Sep 9, 2024

Close Date

Sep 11, 2024

Lot Size

Min Investment

₹ 14,136

Issue Type

Book Building

Listing Date

Sep 16, 2024

Kross Ltd IPO Dates

Sep 9, 2024

Opening date

Sep 11, 2024

Closing date

Sep 12, 2024

Basis of Allotment

Sep 13, 2024

Initiation of Refunds

Sep 13, 2024

Credit of Shares

Sep 16, 2024

Listing date

Details

Sector	Type
Sector	Auto Ancillaries
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	10416667
NII	0x	3125000
Retail	0x	7291666
Employee	0x	0
Total	0x	20833333

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

10416667

3125000

7291666

20833333

Kross Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	74.24	67.08	46.03
EBITDA	81.09	72.87	50.35
PAT	48.03	44.88	30.93
Total Assets	386.82	236.16	151.38
Share Capital	32.26	27.05	13.52
Total Borrowings	52.98	147.64	109.56
Operating Activities (Net Cash)	54.88	50.67	35.25
Investing Activities (Net Cash)	5.51	-4.87	0.14
Financing Activities (Net Cash)	52.98	147.64	109.56
Net Cashflow	84.28	10.51	14.25

About Kross Ltd

Kross Limited was incorporated as Kross Manufacturers (India) Private Limited, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated May 9, 1991, issued by the Registrar of Companies, Bihar at Patna. Thereafter, the Registered Office of the Company was changed from 214, Ashiana Centre Adityapur, Jamshedpur - 831013 to M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur - 832108, Jharkhand, India. Subsequently, the name of the Company was changed from Kross Manufacturers (India) Private Limited to Kross Private Limited pursuant to a fresh certificate of incorporation issued by the Registrar of Companies Jharkhand at Ranchi dated September 26, 2016. Further, the name of the Company was changed upon conversion from a private limited company Kross Private Limited, to a public limited company Kross Limited pursuant to a special resolution passed by its shareholders on January 13, 2017 and a fresh certificate of incorporation issued by the Registrar of Companies Jharkhand at Ranchi dated January 17, 2017.

In fiscal year 2024, the M&HCV segment exhibited a de-growth of 3% over the fiscal year 2023. In fiscal year 2023, MHCV sales recorded a growth of 40%, this recovery brought MHCV sales to approximately 90% of the level recorded in fiscal year 2019, a notable milestone. The resurgence in economic activities across various sectors played a pivotal role in driving this recovery. Tractor trailers were the fastest-growing category in the MHCV segment, witnessing a growth of 71% CAGR between fiscals 2021 and 2024, followed by the MCV haulage and MAV haulage segments at 50% CAGR and 32% CAGR, respectively. Tippers grew at 14% CAGR, whereas ICVs clocked 1% growth during the same period.

Peer Comparison:

Ramkrishna Forgings Ltd
Jamna Auto Industries Ltd
Automotive Axles Ltd
GNA Axles Ltd
Talbros Automotive Components Ltd

Kross Ltd Key Points

Strengths

Long standing relationship with large OEMs and their tier one suppliers, domestic dealers and fabricators for its trailer axle and suspension business complemented by a diversified network of dealers for its trailer axle and suspension assembly business.

Wide recognition as one of the prominent manufacturers of trailer axles and suspension assemblies in India and one of the few players domestically with the competency to manufacture trailer axles and suspension assembly in-house.

Diversified product portfolio with a focus on continuous value addition.

Integrated manufacturing operations coupled with in-house product and process design capabilities which offer scale, flexibility and comprehensive solutions.

Track record of sustained growth and strong financial performance.

Risk

Customer concentration risk - its top five customers contributed a significant portion (more than 66.00% in each of the previous three Fiscals) of its revenues. The loss of a major customer or reduction in demand for its products from any of its major customers may adversely affect its business, financial condition, results of operations and prospects.

End-user industry risk - Demand for its products is linked to growth and trends in sales of vehicles by its customers. Decline in sales of its customers may adversely affect the demand for the company products which in turn would adversely impact its business, financial condition, results of operations and prospects.

Product concentration risk - the company derives a portion of its revenue from the sale of trailer axle and suspension assemblies for medium and heavy commercial vehicles (M&HCV). Any reduction in demand for its key products on account of regulatory changes or changes in technologies including but not limited to shift in renewable/ green energy would have a material adverse effect on its business, financial condition, results of operations and cash flows.

Strategy

Expand capacities at its existing manufacturing facilities to increase manufacturing scale for its existing products and creation of new products.

Create manufacturing capabilities in axle beam extrusion and backward integration capabilities into the seamless tube.

Expand its geographical reach through growing exports.

Continuing focus on reduce operating costs and improving operational efficiency.

Improve its financial profile.

How To Apply for Kross Ltd IPO Online?

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Kross Ltd IPO?

Kross Ltd's IPO offers shares for up to 250 It begins on Sep 9, 2024 and ends on Sep 11, 2024.

What is the price of the Kross Ltd IPO?

The price of Kross Ltd IPO ranges between ₹228 to ₹240 per share.

What are the open and close dates for the Kross Ltd IPO?

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

When will the Kross Ltd IPO be allotted?

The allotment for the Kross Ltd IPO will be finalised on Sep 12, 2024. The shares will be listed on BSE and NSE on Sep 16, 2024.

What is the minimum lot size required for Kross Ltd IPO?

The minimum lot size for Kross Ltd IPO is 62 shares, priced between ₹228 to ₹240 per share.

What is the GMP of Kross Ltd IPO?

The GMP (Grey Market Premium) of Kross Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Kross Ltd IPO?

To check the allotment status of Kross Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Kross Ltd IPO getting listed?

The Kross Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 9, 2024, and closes on Sep 11, 2024. The allotment is finalised on Sep 12, 2024.

How do you apply for the Kross Ltd IPO?

To apply for the Kross Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.