Kross Limited IPO

Mainboard

Tyres & Rubber Products

Listed On: Sep 16, 2024 at ₹ 240.0(NSE)

₹ 14880 /62 Shares

Check Allotment

Price Summary

Last Closing

220.45 (-8.15%)

52 Week High

270.89

52 Week Low

158.00

Last Update

21-Nov-2024 3:30 PM

Kross Limited IPO Details

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date

Issue Price

₹228-240 per equity share

Face Value

₹5 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

List Price

240.0(NSE)

Listing Date

2024-09-16

Market Lot

Retail : 62 Shares (₹14,880/-)
S-HNI : 868 Shares (₹2,08,320/-)
B-HNI : 4,216 Shares (₹10,11,840/-)

Lead Manager

Equirus Capital Private Limited

Issue Size

Total ₹500.0 Cr :
#Fresh Issue : 10,416,667 shares(aggregating up to ₹250.0 Cr) +
#OFS : 10,416,667 shares of ₹5(aggregating up to ₹250.0 Cr)

Retail Portion

35% (Number of Retail Applications: 1,17,607 Approx),
(Number of S-HNI Applications : 1200 Approx),
(Number of B-HNI Applications : 2400 Approx)

Subscription

16.56 times

IPO Docs

DRHP RHP ANCHOR

Kross Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	4,166,667	3,125,000 2,083,534 1,041,466	7,291,666	14,583,333
Day 1 - 09-09-24 05:00 PM	0.00 x	0.59 0.38 x 1.00 x	1.49 x	0.87 x
Day 2 - 10-09-24 05:00 PM	0.02 x	2.87 2.35 x 3.91 x	3.87 x	2.56 x
Day 3 - 11-09-24 05:00 PM	23.32 x	22.15 22.05 x 22.34 x	10.31 x	16.56 x

Total No. of Applications: 13,01,834 (Approx)

Retail Subscription on the basis of Applications: Retail:10.84x BHNI:4.70x SHNI:22.66x times

Kross Limited Valuations

EPS Pre IPO

8.3

EPS Post IPO

6.96

P/E Pre IPO

28.93

P/E Post IPO

34.5

RoNW

30.57

Kross Limited Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	352.0	250.57	197.82
Revenue	621.46	489.36	297.88
Profit After Tax	44.88	30.93	12.17

About The Company

Kross Limited, formerly known as Kross Manufacturers (India) Private Limited, established in 1991, manufactures and supplies trailer axles and suspensions and a wide range of high-performance forged and precision machined safety critical parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment.

The company's product portfolio includes axle shafts, companion flanges, anti-roll bars and stabilizer bar assembly, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and a variety of tractor components for the hydraulic lift arrangement, power take-off (PTO) shafts and front axle spindles.

The company supplies its products to major original equipment manufacturers (OEMs) that manufacture M&HCVs and tractors, as well as to domestic dealers and trailer axle and suspension manufacturers that supply OEMs in the M&HCV segment.

Kross Limited has five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand, with the capacity to manufacture forgings weighing up to 40 kg. The production facilities are equipped with (i) forging presses and upsetting lines with induction heating for billets, (ii) a foundry with a high-pressure moulding line, (iii) high precision machining machines like turning centers, vertical and horizontal milling centres, Grinding, broaching, hobbing and shaping machines as well as robot welding systems, (iv) an in-house cathodic electro dip painting system (CED system), powder coating and spray painting and (v) heat treatment furnaces and induction hardening systems.

As of June 30, 2024, the company had 528 permanent employees.

Kross Limited - Strength and Weakness

Strength

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.

Weakness

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.

Kross Limited - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Kross Limited	8.84	34.5	30.57%	621
Ramkrishna Forgings	6.64	52.2	17.0%	4,068
Jamna Auto	5.52	24.2	24.5%	2,427
Automotive Axles	3.45	18.7	20.2%	2,190
GNA Axles	2.30	20.0	13.2%	1,532
Talbros Automotive	3.94	25.4	17.2%	800

Kross Limited - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

Sudhir Rai
Anita Rai

Kross Limited IPO - Issue Objectives

Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment
Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company, from banks and financial institutions
Funding working capital requirements of the Company
General corporate purposes

Kross Limited IPO - Anchor Investors

Auto parts-maker Kross raises Rs 150 Crores from anchor investors ahead of IPO.

EastSpring Investments, Mathews Asia Funds, LIC Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak Mahindra MF, Motilal Oswal MF, Edelweiss MF and Max Life Insurance Company are among the anchor investors.

Other Details

Company Contact Details

Kross Limited

M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur - 832108

Phone: +91 0657 2203812

Email: investors@krossindia.com

Website: https://www.krosslimited.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: krosslimited.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

Kross Limited IPO - FAQs

Ans. Kross Limited IPO is a Mainboard IPO. The issue is priced at ₹228-240 per equity share. The minimum order quantity is 62 Shares. The IPO opens on Sep 9, 2024, and closes on Sep 11, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

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

Ans. The size of Kross Limited IPO is Total ₹500.0 Cr : #Fresh Issue : 10,416,667 shares(aggregating up to ₹250.0 Cr) + #OFS : 10,416,667 shares of ₹5(aggregating up to ₹250.0 Cr).

Ans. The IPO price band is set between ₹228-240 per equity share.

Ans. To apply for Kross Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Kross Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Kross Limited IPO is Sep 12, 2024.

Ans. The Kross Limited IPO will be listed on Sep 16, 2024.

Ans. Follow the steps to check the allotment status for Kross Limited IPO here.