Explore and learn about KROSS LIMITED's IPO, Share Price, GMP, and Lot Size at PrimeNewsly.
Share with social media
Kross Limited was founded in 1994 and has gained recognition as a leading manufacturer of forging components for leading OEMs and Tier 1 firms in India. We produce a large variety of high performance and safety-critical parts for the trailer axle, tractor, and commercial vehicle industries.
Axles
Suspensions
Landing Gears
King Pins
We make components for various applications on the tractor: the hydraulic lift assembly, rear axle assembly, spindle front axle
Truck components:
We produce parts for heavy-duty and medium-duty trucks. Our extensive selection of parts is installed in the gear changing mechanism, rear axle assembly, steering assembly, gearbox, and chassis.
Who are our customers?
Our principal customers are Tata International DLT Private Limited and Ashok Leyland.
According to the company's 2023–2024 financial statements, Kross Limited generated Rs 489 crores in operational revenue and Rs 31 crores in profit after taxes (PAT).
The company located in Jamshedpur plans to use the net proceeds of the new issuance to pay off debt, buy machinery and equipment, and finance the company's working capital needs.
Along with certain farming equipment, Kross Ltd. sells auto safety parts. Everybody is prepared to start the IPO. In addition to issuing new shares worth Rs. 250 crores, the corporation will also make a Rs. 250 crores offer for sale.
Offering OFS are the Promoters. January 2024 could see the opening of the Kross Ltd. IPO. The range of prices is 500 crores rupees will be raised in total. Details of the IPO have not yet been made public. Anita Rai and Sudhir Rai are the company's promoters. Anita Rai would dilute shares worth Rs 82 crore, while Sudhir Rai will dilute shares worth Rs 168 crore.
The lot size denotes the minimum number of shares to be purchased.
The primary purpose of the shares will be for the corporation to buy new machinery. Seventy crores rupees would be spent in total. The capital will be increased by Rs. 30 crores. To pay off debt, about Rs. 90 crores would be allocated. Both the BSE and NSE will have the shares available.
According to the Draft Red Herring Prospectus (DRHP) submitted on Thursday, the Jamshedpur-based company's first public offering consists of an offer for sale (OFS) by promoters of shares totaling up to Rs 250 crore and a new issue of shares valued up to Rs 250 crore.
The business may place up to Rs 50 crore worth of its securities prior to an initial public offering. Should this placement be made, the size of the new issue will be less.
Kross intends to use the net proceeds of the new offering to pay down debt, support the company's working capital needs, and buy machinery and equipment.
If such placement is undertaken, the fresh issue size will be reduced. The issue's book running lead manager is Equirus Capital. It is suggested that the equity shares be listed on the NSE and BSE stock markets.
Kross Limited intends to use the net proceeds of the new issue to finance the company's capital expenditure needs, which include the acquisition of machinery and equipment, with a total estimated cost of Rs70 crore. The company plans to use up to Rs90 crore to repay or prepay all or a portion of certain outstanding loans that it has obtained from banks and other financial institutions.
In addition to using the money for general corporate reasons, the company plans to spend Rs30 crore to cover its working capital requirements. The company's promoters are Kunal Rai, Chief Financial Officer; Anita Rai, Whole-Time Director; Sumeet Rai, Whole-Time Director; and Sudhir Rai, Chairman and Managing Director.
Products are supplied to a diverse client base by Kross Ltd., which counts Ashok Leyland and Tata International DLT Private Limited as its important clients. This comprises major original equipment manufacturers (OEMs) that produce tractors and M&HCVs, as well as domestic dealers and fabricators for their trailer axle and suspension business. Tier one suppliers to the OEMs in the M&HCV market are also included.
It has also drawn in new clients, including a Japanese OEM that makes commercial vehicles and Leax Falun AB, a Swedish company that makes propeller shafts for commercial vehicle OEMs.
Kross Ltd 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 and farm equipment segments.
As of FY23, the company's revenue from operations was Rs489 crore with a profit after tax of Rs31 crore. It was established in 1991 and operates out of its five manufacturing facilities in Jamshedpur, Jharkhand which are equipped with capabilities to design, develop and manufacture its diverse product portfolio.
Each equity share will have a face value of five rupees. The previous year was profitable for the business. They brought in Rs. 489 crores in revenue and Rs. 31 crores in profit. The EBITDA margin for the company has increased by 52.27%. The increase in net worth is 18.26%.
The business has operated profitably since 1991. Kross Ltd. has been in the industry for around 32 years.
Here is the new upcoming IPO list for December 2023 (tentative):
ALSO READ: 
Indegene IPO GMP, Price, Lot Size, Date and Subscription
BSE Limited IPO has lot size of 18 Shares, the minimum amount required is Rs14,508.
100 share units: A lot is the number of units of a financial instrument that's traded on an exchange.
Average annual salary in Kross limited is INR 4.9 lakhs.
From today, investors will be able to bet on the Indegene IPO. Investors will have the opportunity to bet on this IPO until May 8. The Rs 1, 841.76 crore IPO comprises fresh issuance of shares worth up to Rs 750 crore,
Bharti Hexacom IPO: The total size of Bharti Hexacom IPO is Rs 4,275 crore. Through this IPO, the company will sell 7.5 crore shares. You can invest in this IPO from 3 to 5 April.
Explore the SRM Contractors IPO GMP, Lot Size, Price, and Date at PrimeNewsly. There is good news for investors looking at GMP. The SRM Construction IPO will open next week. The company has raised Rs 39 crore from anchor investors.
Gopal Snacks IPO GMP: The IPO of Gopal Snacks has opened for subscription from today. It will remain open till March 11. The company has fixed the price band of the IPO at Rs 381-401 per equity share.
