{"id":3820,"date":"2024-09-05T15:53:27","date_gmt":"2024-09-05T10:23:27","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3820"},"modified":"2024-09-06T17:13:59","modified_gmt":"2024-09-06T11:43:59","slug":"review-of-kross-ipo","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/review-of-kross-ipo\/","title":{"rendered":"Review of Kross Limited IPO: Lot Size, Check Issue Date, Price"},"content":{"rendered":"\n

Kross IPO Price: <\/strong>\u20b9228 to \u20b9240 per share
IPO Dates:<\/strong> 9 September 2024 – 11 September 2024<\/p>\n\n\n\n

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\"Kross<\/figure>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n
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Company Overview<\/strong><\/h2>\n\n\n\n

Kross Limited, originally known as Kross Manufacturers (India) Private Limited, was established in 1991. The company specializes in the manufacturing and supply of trailer axles and suspensions, along with a wide range of high-performance, safety-critical forged and precision-machined parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment. With over three decades of experience, Kross Limited has grown to be one of the prominent manufacturers in the industry, recognized for its diverse portfolio and strong product development capabilities.<\/p>\n<\/div>\n<\/div>\n\n\n\n

Product Portfolio<\/h2>\n\n\n\n

Kross Limited offers an extensive product range, including axle shafts, companion flanges, anti-roll bars, stabilizer bar assemblies, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and various tractor components. These include parts for hydraulic lift arrangements, power take-off (PTO) shafts, and front axle spindles. The company manufactures safety-critical components for the M&HCV and agricultural equipment segments, catering to the needs of major original equipment manufacturers (OEMs) in these industries.<\/p>\n\n\n\n

Manufacturing Facilities<\/h2>\n\n\n\n

The company operates five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand. These facilities are equipped with advanced machinery, including forging presses and upsetting lines with induction heating for billets, a foundry with a high-pressure moulding line, high-precision machining tools such as turning centres, vertical and horizontal milling centers, grinding, broaching, hobbing, shaping machines, and robotic welding systems. <\/p>\n\n\n\n

Additionally, the facilities feature in-house cathodic electro dip (CED) painting systems, powder coating, spray painting, heat treatment furnaces, and induction hardening systems. Kross Limited has the capacity to manufacture forged parts weighing up to 40 kg and is expanding its production capabilities through facility enhancements and additional production lines.<\/p>\n\n\n\n

Client Base and Market Presence<\/h2>\n\n\n\n

Kross Limited supplies its products to a diversified client base, including major OEMs that manufacture M&HCVs and tractors, tier-one suppliers to OEMs in the M&HCV segment, and domestic dealers and fabricators. The company has established long-term relationships with key clients, including Ashok Leyland Limited and Tata International DLT Private Limited, due to its consistent delivery of high-quality products. In August 2023, Kross Limited commenced bulk exports to Leax Falun AB, a Sweden-based company manufacturing propeller shafts for commercial vehicle OEMs, supplying universal joint crosses with plans to expand to other critical parts.<\/p>\n\n\n\n

Growth and Expansion<\/h2>\n\n\n\n

In 2019, Kross Limited started manufacturing and selling trailer axle and suspension assemblies, witnessing robust growth between Fiscal 2021 and Fiscal 2024. The company has emerged as one of India’s fastest-growing players in the organized trailer axle manufacturing industry, competing with major manufacturers. Kross Limited\u2019s forward and backward integration capabilities, including design, process engineering, forging, casting, and machining, provide greater control over production processes, timelines, pricing, and quality.<\/p>\n\n\n\n

Certifications and Quality Standards<\/h2>\n\n\n\n

Kross Limited\u2019s manufacturing facilities have obtained several quality certifications, including ISO 9001:2015, IATF 16949:2016, ISO 14001:2015, and ISO 45001:2018 from T\u00dcV NORD CERT GmbH. These certifications cover the manufacture of various components such as axle shafts, PTO shafts, lift shafts, universal joints, differential spiders, companion flanges, bevel kit assemblies, and trailer axle assemblies, underscoring the company’s commitment to maintaining high standards in quality and safety.<\/p>\n\n\n\n

Innovation and Customer Service<\/h2>\n\n\n\n

Kross Limited leverages its in-house design capabilities and advanced technology to develop proprietary high-performance and safety-critical components. The company collaborates closely with OEMs on the design and development of products, such as anti-roll bars and stabilizer bars, ensuring tailored solutions that meet specific customer requirements. For its trailer axle and suspension assembly business, Kross Limited provides forward integration through a network of sales and service locations across key states in India. A custom service software developed by Salesforce supports accurate tracking of service complaints and service history, ensuring prompt and efficient customer service.<\/p>\n\n\n\n

Bidding Starts In<\/h2>\n\n\n<\/div>\n\n\n
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APPLY NOW<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

Kross IPO<\/strong> Specifics:<\/h2>\n\n\n\n
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IPO Date<\/td>September 9, 2024 to September 11, 2024<\/td><\/tr>
Listing Date<\/td>Monday, September 16, 2024<\/td><\/tr>
Face Value<\/td>\u20b95 per share<\/td><\/tr>
Price Band<\/td>\u20b9228 to \u20b9240 per share<\/td><\/tr>
Lot Size<\/td>62 Shares<\/td><\/tr>
Total Issue Size<\/td>20,833,334 shares
(aggregating up to \u20b9500.00 Cr)<\/td><\/tr>
Fresh Issue<\/td>10,416,667 shares
(aggregating up to \u20b9250.00 Cr)<\/td><\/tr>
Offer For Sale<\/td>10,416,667 shares
(aggregating up to \u20b9250.00 Cr)<\/td><\/tr>
Issue Type<\/td>Book Built Issue IPO<\/td><\/tr>
Listing At<\/td>BSE, NSE<\/td><\/tr>
Share holding pre issue<\/td>54,092,756<\/td><\/tr>
Share holding post issue<\/td>64,509,423<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n\n

Kross IPO<\/strong> Timetable (Important Dates)<\/h2>\n\n\n\n
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IPO Open Date<\/td>Monday, September 9, 2024<\/td><\/tr>
IPO Close Date<\/td>Wednesday, September 11, 2024<\/td><\/tr>
Basis of Allotment<\/td>Thursday, September 12, 2024<\/td><\/tr>
Initiation of Refunds<\/td>Friday, September 13, 2024<\/td><\/tr>
Credit of Shares to Demat<\/td>Friday, September 13, 2024<\/td><\/tr>
Listing Date<\/td>Monday, September 16, 2024<\/td><\/tr>
Cut-off time for UPI mandate confirmation<\/td>5 PM on September 11, 2024<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n\n

Kross IPO<\/strong> Lot Size<\/h2>\n\n\n\n

Bidders have the opportunity to bid for a minimum of 62 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.<\/p>\n\n\n\n

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Application<\/th>Lots<\/th>Shares<\/th>Amount<\/th><\/tr><\/thead>
Retail (Min)<\/td>1<\/td>62<\/td>\u20b914,880<\/td><\/tr>
Retail (Max)<\/td>13<\/td>806<\/td>\u20b91,93,440<\/td><\/tr>
S-HNI (Min)<\/td>14<\/td>868<\/td>\u20b92,08,320<\/td><\/tr>
S-HNI (Max)<\/td>67<\/td>4,154<\/td>\u20b99,96,960<\/td><\/tr>
B-HNI (Min)<\/td>68<\/td>4,216<\/td>\u20b910,11,840<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n\n

Kross IPO<\/strong> Reservation<\/h2>\n\n\n\n
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QIB Shares Offered<\/td>Not more than 50% of the Net offer<\/td><\/tr>
Retail Shares Offered<\/td>Not less than 35% of the Offer<\/td><\/tr>
NII (HNI) Shares Offered<\/td>Not less than 15% of the Offer<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n\n

Kross Limited IPO Financial Information<\/strong><\/h2>\n\n\n\n

Kross Limited witnessed a substantial 27% growth in its total revenue while observing a significant 45% increase in profit after tax (PAT) during the period spanning from the financial year concluding on March 31, 2024, to March 31, 2023.<\/p>\n\n\n\n

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Period Ended<\/th>31 Mar 2022<\/th>31 Mar 2023<\/th>31 Mar 2024<\/th><\/tr><\/thead>
Assets<\/td>197.82<\/td>250.57<\/td>352<\/td><\/tr>
Revenue<\/td>297.88<\/td>489.36<\/td>621.46<\/td><\/tr>
Profit After Tax<\/td>12.17<\/td>30.93<\/td>44.88<\/td><\/tr>
Net Worth<\/td>72.4<\/td>102.11<\/td>146.81<\/td><\/tr>
Reserves & Surplus<\/td>58.88<\/td>88.58<\/td>119.76<\/td><\/tr>
Total Borrowing<\/td>86.06<\/td>88.26<\/td>117.9<\/td><\/tr><\/tbody><\/table>
Amount in \u20b9 Crore<\/small><\/figcaption><\/figure>\n<\/div>\n\n\n\n

Key Performance Indicator – Kross IPO<\/strong><\/h2>\n\n\n\n
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KPI<\/th>Values<\/th><\/tr><\/thead>
Market Cap <\/td>\u20b9 1548.23 Cr.<\/td><\/tr>
EPS<\/td>\u20b98.3<\/td><\/tr>
P\/E (x)<\/td>28.93<\/td><\/tr>
ROE<\/td>30.57%<\/td><\/tr>
ROCE<\/td>28.15%<\/td><\/tr>
RoNW<\/td>30.57%<\/td><\/tr>
P\/BV<\/td>8.84<\/td><\/tr><\/tbody><\/table>
as of Mar 31, 2024<\/sup><\/sub><\/figcaption><\/figure>\n<\/div>\n\n\n\n

Objects of the Issue:<\/strong><\/h2>\n\n\n\n

The company intends to use the net proceeds for the following purposes:<\/p>\n\n\n\n

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  1. General corporate purposes.<\/li>\n\n\n\n
  2. Funding capital expenditure for the purchase of machinery and equipment.<\/li>\n\n\n\n
  3. Repaying or prepaying, either fully or partially, certain outstanding borrowings from banks and financial institutions.<\/li>\n\n\n\n
  4. Meeting the company\u2019s working capital requirements.<\/li>\n<\/ol>\n\n\n\n

    Prospectus Links:<\/strong><\/h2>\n\n\n\n

    Prospectus:<\/strong> Official documents that provide detailed information about the IPO and the company. <\/p>\n\n\n\n

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    Kross Limited IPO DRHP.<\/a><\/p>\n\n\n\n

    Kross Limited IPO RHP.<\/a><\/p>\n<\/div>\n<\/div>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Kross IPO Price: \u20b9228 to \u20b9240 per shareIPO Dates: 9 September 2024 – 11 September 2024 Company Overview Kross Limited, originally known as Kross Manufacturers (India) Private Limited, was established in 1991. The company specializes in the manufacturing and supply of trailer axles and suspensions, along with a wide range of high-performance, safety-critical forged and […]<\/p>\n","protected":false},"author":1,"featured_media":3830,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[55],"tags":[161,336,162],"class_list":["post-3820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-news","tag-ipo","tag-kross-ipo","tag-upcoming-ipo"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3820"}],"version-history":[{"count":5,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3820\/revisions"}],"predecessor-version":[{"id":3855,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3820\/revisions\/3855"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3830"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}