Kross IPO: Kross, engaged in the business of trailer axle and suspension assembly, has finalised shares allotment for its Rs 500 crore-IPO. Investors can check their application status online through various mediums such as stock exchanges, and the registrar of the IPO, KFin Technologies' website. On the final day, Kross IPO received strong demand with the issue oversubscribing by 16.81x.
KROSS IPO Allotment Status:
The allotment of shares was finalised on September 12, Thursday by the Kross. Investors can now check their application status via:
KfinTech IPO Allotment:
Step 1: Click On the KfinTech website link - https://kosmic.kfintech.com/ipostatus/
Step 2: Select the Other IPOs box. You will have the option of selecting any 1 of the 5 links on the website. Once clicked, you will be directed to the IPO allotment status page.
Step 3: Select the IPO Option. Click on KROSS Limited.
Step 4: You can check your application status through three identification data. Either via 'Application No.' Or 'Demat Account' Or 'PAN card number'
Step 5: Enter the details of Application No, Demat Account Or PAN, and put the captcha code.
Step 6: Click on submit, and you will be directed to a new page which will indicate your status in the IPO.
Kross IPO Subscriptions:
The 500 crore IPO opened on September 9 and ended on September 11. The IPO oversubscribed by 16.81x with bids of 25,80,21,866 equity shares as against the offered size of 1,53,50,877 equity shares.
By end of the final day, strong demand for the IPO was from Qualified Institutional Buyers (QIBs) and Non Institutional Investors (NIIs). The portion reserved for QIBs oversubscribed by 23.32x, while NIIs category oversubscribed by 22.24x, and that of retail individual investors (NII) portion oversubscribed by 10.76x.
KROSS IPO GMP:
As per Investo Grain data, Kross IPO last GMP is ₹37.50, last updated Sep 13th 2024 10:29 AM. With the price band of 240.00, Kross IPO's estimated listing price is ₹277.5 (cap price + today's GMP).The expected percentage gain/loss per share is 15.62%.
KROSS IPO Listing Date:
The IPO is likely to be listed on September 16. Post the IPO, the company's proposed shares will be listed on BSE and NSE.
KROSS Share:
As per SMIFS, KROSS is a good long term investment as the company's capacity ramp up - both existing and fresh additions to come up in future - aid growth along with healthy return ratios combined with attractive valuations at the issue price and steady to low raw material costs aiding margins.
The brokerage stated that Kross plans to continue leveraging its expanded production capabilities to sustain growth, enhance market presence, and further improve profitability. The company is also reducing its debt through the net proceeds which will drive its bottom line growth positively. The company's revenue from operations grew 26.94% YoY to INR 6202.50 million in FY24. EBITDA grew 40.39% YoY to INR 807.58 million in FY24 with EBITDA margin of 13.02%. Kross PAT was reported at INR 448.81 which grew 45.10% YoY in FY24. ROE and ROCE was 30.57% and 28.15% in FY24.
KROSS 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.
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