Kross Limited’s Initial Public Offering (IPO) made headlines with its launch from September 9 to September 11, 2024. The IPO was priced between ₹228 and ₹240 per share and saw its shares debut on September 16, 2024, at ₹240, aligning with the issue price. Despite a grey market premium (GMP) of ₹24-25, suggesting potential gains, the actual listing was flat. The IPO was oversubscribed by 16.81 times, with significant interest from qualified institutional buyers (QIBs), who subscribed 23.32 times. Kross Limited aims to use the IPO proceeds for machinery purchases, debt repayment, and working capital enhancement.
Kross Limited IPO Details
1. Kross Limited IPO Price
The IPO price for Kross Limited ranged from ₹228 to ₹240 per share. This range was set to attract a broad spectrum of investors while providing flexibility in pricing.
2. Kross IPO Listing Date
The shares of Kross Limited were listed on September 16, 2024. This was a significant milestone for the company, marking its transition from a private entity to a publicly traded one.
3. Kross Limited IPO Date
The IPO period lasted from September 9 to September 11, 2024. During this time, investors had the opportunity to subscribe to the shares of Kross Limited.
4. Kross Ltd IPO GMP
Before the listing, Kross Limited’s shares were trading at a grey market premium (GMP) of ₹24-25. This indicated a potential listing gain of about 10%. However, the actual listing price was flat at ₹240, not fully meeting the GMP expectations.
5. Kross Limited IPO Subscription Status
The IPO was highly successful, with an overall subscription rate of 16.81 times. The breakdown is as follows:
- Qualified Institutional Buyers (QIBs): 23.32 times
- Non-Institutional Investors: 22.24 times
- Retail Investors: 10.75 times
6. Kross Limited IPO GMP Investor Gain
Despite the positive GMP indicating a potential gain, the flat debut price of ₹240 suggested that investors might need to be patient to realize substantial returns.
Kross Limited Company Overview
Kross Limited, established in 1991, specializes in the manufacture of trailer axles, suspension assemblies, and high-performance parts for commercial vehicles and agricultural equipment. The company has a robust client base including major OEMs like Ashok Leyland and Tata International, and it has expanded its market reach internationally, serving clients in Europe and Japan.
Kross Limited Products List
Kross Limited offers a range of products:
- Trailer Axles
- Suspension Assemblies
- Safety-Critical Components for Commercial Vehicles
- Agricultural Equipment Parts
Kross Limited Company’s Financial Performance
For the fiscal year ending March 2024, Kross Limited reported impressive growth:
- Revenue: Increased by 27% to ₹620 crore
- Net Profit: Rose by 45% to ₹44.8 crore
- CAGR (Compound Annual Growth Rate): 44.4% in revenue, 65.5% in EBITDA, and 91.8% in profit after tax over the past two years
Kross Limited Company’s Future Outlook
Analysts have a positive outlook on Kross Limited, recommending that investors consider holding or subscribing for long-term gains. The IPO proceeds will be used for machinery purchases, debt repayment, and working capital, potentially enhancing the company’s operational capacity and financial stability.
Kross Share Price Predictions
While specific share price targets vary, the flat listing price suggests that investors will need to monitor the market closely. The ongoing demand for Kross’s products in the commercial vehicle sector could positively influence its future stock performance.
Conclusion
Kross Limited’s IPO laid a solid foundation despite a muted debut. As the company focuses on strategic investments and product expansion, it remains a noteworthy player in the industrial manufacturing sector. Keep an eye on Kross Limited’s share price history and future movements to make informed investment decisions.
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