Kross IPO
Kross IPO — date, price band, lot size & details 2024
Kross listed on 16 Sep 2024 at ₹240, flat to the ₹240 issue price.
Kross makes trailer axles and suspension assemblies and forged and machined safety critical parts for commercial vehicles and farm equipment. Its total income was Rs 621.46 crore in FY2024.
Stock price
Kross is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 09 Sep 2024
- Close 11 Sep 2024
- Allotment 12 Sep 2024
- Refund/credit 13 Sep 2024
- Listing 16 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Sep, 2024 |
|---|---|
| Price Band | ₹228 – ₹240 |
| Face Value | ₹5 |
| Lot Size | 62 Shares |
| Issue Size | ₹500 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,880 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 62 shares at the ₹240 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 62 | ₹14,880 |
| Retail (max) | 13 | 806 | ₹1,93,440 |
| S-HNI (min) | 14 | 868 | ₹2,08,320 |
| S-HNI (max) | 67 | 4,154 | ₹9,96,960 |
| B-HNI (min) | 68 | 4,216 | ₹10,11,840 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 297.88 crore in FY2022 to Rs 621.46 crore in FY2024.
- 02Profit after tax rose from Rs 12.17 crore in FY2022 to Rs 44.88 crore in FY2024.
- 03The pre-issue P/E was 28.93 at the upper band of Rs 240, based on EPS of Rs 8.30.
- 04Rs 250.00 crore of the issue was fresh capital for machinery and debt repayment.
- 05The source puts return on net worth at 30.57%.
Risks · 5
- 01Demand follows the commercial vehicle and farm equipment cycles, and the source puts the PAT margin at 7.22%.
- 02Total borrowing rose from Rs 86.06 crore on 31 March 2022 to Rs 117.90 crore on 31 March 2024.
- 03Half of the Rs 500 crore issue was offer for sale by the promoters.
- 04Steel prices drive costs, and a few large OEMs drive much of the business. Debt to equity was 0.80 as per the source.
- 05Promoters held 100% before the issue and 67.7% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Kross offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 352.00 | 250.57 | 197.82 |
| Total Income | 621.46 | 489.36 | 297.88 |
| Profit After Tax | 44.88 | 30.93 | 12.17 |
| NET Worth | 146.81 | 102.11 | 72.40 |
| Reserves and Surplus | 119.76 | 88.58 | 58.88 |
| Total Borrowing | 117.90 | 88.26 | 86.06 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Kross RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Kross IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.30 | ₹6.96 |
| P/E Ratio (x) | 28.93 | 34.50 |
| Market Cap at Offer Price (₹ Cr) | ₹1,297.73 | ₹1,547.59 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹240 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹236.19 Cr of the issue is earmarked to named objects.
Kross IPO Anchor Investors
19 anchor investors across 15 fund houses committed ₹150.00 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its products serve the medium and heavy commercial vehicle and farm equipment segments. As per CRISIL, it is widely recognised as one of the prominent makers of trailer axles and suspension assemblies in India.
Its promoters are Sudhir Rai and Anita Rai.
The IPO was Rs 500 crore, with Rs 250.00 crore of fresh issue and Rs 250.00 crore of offer for sale by the promoters. Rs 90.00 crore was planned for repaying borrowings and Rs 70.00 crore for machinery and equipment.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Kross IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Equirus Capital Pvt.Ltd.
36 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Kross?
The current Grey Market Premium is ₹30, or 12% over the issue price.
What is the Kross IPO price band?
₹228 to ₹240, on a face value of ₹5.
When is the allotment?
The basis of allotment is 12 September 2024, with listing on 16 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
