KROSS LIMITED, established in 1994, is a prominent manufacturer of forging components, serving top OEMs and Tier 1 companies in India. Specializing in high-performance and safety-critical components for the commercial vehicle, tractor, and trailer axle industries, Kross is gearing up for its IPO with a fresh issue and an offer for sale totaling ₹500.00 Crores. The subscription period for this IPO is from September 9 to September 11, 2024, with shares priced between ₹228 and ₹240 each. The minimum lot size is 62 shares, and retail investors must invest a minimum of ₹14,880, while High-Net-Worth Individuals (HNIs) are required to invest at least ₹208,320 for 14 lots.

Equirus Capital Private Limited is the book-running lead manager, and KFin Technologies Limited is the registrar for the issue.

Kross Limited IPO GMP Today

The Grey Market Premium (GMP) for Kross Limited IPO is expected to range between ₹25 and ₹30. It's important to understand that GMP can fluctuate based on market demand and is not a reliable indicator of the final listing price. GMP is provided for informational purposes and should not be the sole factor in making investment decisions.

Kross Limited IPO Live Subscription Status

As of 12:06 PM on September 10, 2024, the IPO has been subscribed 1.49 times. For the most up-to-date subscription status, visit the BSE website.

Kross Limited IPO Allotment Status

The allotment for Kross Limited IPO is scheduled for September 13, 2024. Investors can check their allotment status by visiting the registrar’s website, selecting Kross Limited IPO from the dropdown list, and entering their application number, PAN, or DP Client ID.

Objectives of the IPO

The proceeds from the Kross IPO will be utilized for the following purposes:

Funding Capital Expenditure - ₹700.00 Million for purchasing machinery and equipment.

Repayment of Borrowings - ₹900.00 Million to pay off existing loans from banks and financial institutions.

Funding Working Capital Requirements - ₹300.00 Million.

General Corporate Purposes

Kross Limited IPO Review

KROSS LIMITED has a long history of excellence in the manufacturing of forging components, with a specialization in parts for commercial vehicles, tractors, and trailers. The company’s Chairman and Managing Director, Sudhir Rai, has over three decades of experience in the automotive component manufacturing industry, contributing significantly to the company’s growth.

Financially, Kross has demonstrated robust performance. Revenue increased from ₹2,978.81 Million in FY22 to ₹4,893.57 Million in FY23, reaching ₹6,214.64 Million in FY24. EBITDA also rose from ₹295.48 Million in FY22 to ₹807.58 Million in FY24, and PAT grew from ₹121.69 Million in FY22 to ₹448.81 Million in FY24.

The IPO offers shares with a pre-issue EPS of ₹8.30 and a post-issue EPS of ₹6.59. The pre-issue P/E ratio is 28.91x, and the post-issue P/E ratio is 34.53x, compared to the industry average of 24.85x. The company’s ROCE and ROE for FY24 are 28.15% and 30.57%, respectively, suggesting a fair valuation.

Despite the strong financial metrics, the IPO’s potential listing gains are estimated between 10% and 13%. Given these factors, it is advisable to approach the Kross Limited IPO with caution for short-term gains and consider long-term investment only.

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