Kross IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: When will Kross Ltd's IPO open for subscription?

The IPO subscription window is not announced yet .

Q: What minimum lot size can retail investors subscribe to?

The lot size for the IPO is yet to be announced .

IPO Details

Bidding Dates

To be announced

Minimum Investment

To be announced

Price Range

To be announced

Maximum Investment

To be announced

Retail Discount

To be announced

Issue Size

Equity shares aggregating up to ₹5,000 million

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

Kross Ltd IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

To be announced

Closing Date

To be announced

Basis of Allotment

To be announced

Initiation of Refunds

To be announced

Credit of Shares to Demat

To be announced

Listing Date

To be announced

Cut-off time for UPI mandate confirmation

To be announced

About Kross Ltd

Kross Ltd is a diversified player focused on the manufacturing and supply of a wide range of forged and precision machine parts for medium and heavy commercial vehicles (i.e. M&HCV) and farm equipment segments.

As such, they offer a diversified portfolio of high-performance and safety-critical components for the M&HCV and farm equipment segments. However, they are considered a specialist in manufacturing safety critical components for the M&HCV segment, which include axle shafts, companion flanges, anti-roll bars and stabiliser bar assembly, suspension linkages, etc. They also produce a wide variety of tractor components for the hydraulic lift arrangement, power take-off shafts and front axle spindles.

They supply their products to a diversified client base, which includes large original equipment manufacturers (OEMs) of M&HCV and tractors, as well as the top suppliers to these OEMs. They also have domestic dealers and fabricators as clients for their trailer axle and suspension business.

The MHCV industry is expected to grow at a compound annual growth rate of 2-4% between FY 2024 to FY 2029. Between the fiscal years of 2018 to 2023, the Indian tractor industry had registered a 5.4% CAGR. With the sectors that buy its products showing growth prospects, the revenue of Kross Ltd may also grow.

Kross Ltd IPO Details

Kross Ltd IPO Date

The dates for bidding for the Kross IPO are yet to be announced.

Kross Ltd IPO Price Band

Kross is a book-built IPO. The exact price is yet to be announced.

Kross Ltd IPO Lot Size

The Kross Ltd IPO lot size has not been announced yet.

Kross Ltd IPO Objectives

The proceeds from the fresh issue will be used for:

Funding of capital expenditure requirements towards the purchase of machinery and equipment.
Repayment of certain outstanding borrowings availed from banks and financial institutions.
Funding the working capital requirements of the company.
General corporate purposes.

Peer Details

The following is a listed peer company of Kross in India:

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

How To Check the Allotment Status of the Kross Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Kross Ltd

Registered office: M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur - 832108, Jharkhand, India

Phone: +91 0657 2203812

E-mail: investors@krossindia.com

Financial Performance

Particulars	Period Ending on June 30, 2023	Year Ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Income	1,438.74	4,893.57	2,978.81	1,842.05
Profit After Tax	80.01	309.31	121.69	47.67
Return on Capital Employed	6.66%	27.51%	14.97%	10.03%
Return on Equity	7.25%	30.29%	16.81%	7.96%

Know before investing

Strengths

Kross Ltd has longstanding relationships with large OEMs and their tier-one suppliers, domestic dealers and fabricators for the trailer axle and suspension business. These relationships are complemented by a diversified network of dealers for their trailer axle and suspension assembly business.
They have experienced robust growth in the past 3 years, allowing them to be recognised as a major player in the field of trailer axle and suspension manufacturing in India.
They are a diversified player manufacturing a wide range of forging and machined precision components and assemblies. Higher diversity allows them to access and experiment with multiple markets and reduce their long-term risks.

Risks

The company’s top five customers contributed more than 68% of revenue in the previous three fiscals. The loss of a major customer or reduction in demand from them may adversely affect the business.
All of their five manufacturing facilities are situated at Jamshedpur, Jharkhand. Any issues in the region can disrupt the supply chain of the company entirely.
They do not have any long-term contracts with their customers. This could pose a risk to the stability of their revenues.