On Thursday, September 12, Kross Ltd. is expected to finalize the share allotment basis. On Friday, or at the latest, during the weekend, bidders will receive notifications, alerts, or emails regarding the debiting of their funds or the revocation of their IPO mandate. Investor response to the car accessory company issue had been subdued over the three days of bidding.Bidding on Kross’s initial public offering (IPO) was open from September 9 to September 11. With a lot size of 62 shares, the Jamshedpur-based company had offered its shares at a fixed price range of Rs 228–240 per share.The company raised Rs 500 crore through its primary offering, which included an offer-for-sale (OFS) of up to 1.04 crore equity shares and a new share sale of Rs 250 crore.Kross Ltd.’s Grey Market Premium (GMP) remains unchanged despite divergent responses to the matter throughout the bidding process. As of the last hearing, the business was asking a premium of Rs 50 per share, indicating a potential listing price increase for investors of almost 21%. It has stayed close to these levels during the issue’s bidding process.
The issue was subscribed to 16.81 times overall and witnessed strong bidding. There were 23.32 bookings of the qualified institutional bidders’ (QIBs’) quota. The portion set aside for retail investors saw bidding for 10.75 during the bidding process, while the quota for non-institutional investors was subscribed 22.24 times.
Founded in 1991, Kross Ltd, formerly known as Kross Manufacturers (India), specializes in the manufacturing and sale of trailer axles, suspensions, and a variety of precision-machined, high-performance forged components that are critical for safety. These parts cater to medium- and heavy-duty commercial vehicles (M&HCV) as well as agricultural machinery.
Brokerages were largely optimistic about the problem and advised investors to sign up for a lengthy period of time, citing its stable financial situation, long-standing connections with significant domestic and international clientele, and market position. The company’s main dangers, meanwhile, are the car sector downturn and high valuations.
The registrar of the Kross IPO is Kfin Technologies, while the book running lead manager is Equirus Capital. The company’s shares will be listed on the NSE and BSE, with
Investors who placed a bid for the Kross offering can visit the Bombay Stock Exchange (BSE) website to view the status of their allocation:
2) Select Equity under Issue Type.
3) In the dropbox, choose Kross Ltd. under the issue name.
4) Put the application number in writing.
The PAN card ID is added.
6) Select “I am not a Robot” and press “Submit.”
The registrar is a Sebi-registered firm, qualified to function as such and which electronically processes all applications and carries out the allocation process, as per the prospectus. The registrar is in charge of sending and uploading refunds, responding to investor-related inquiries, and maintaining the electronic credit of shares to qualified applicants within the allotted timeframe.
1) Visit KFin Technologies Limited’s website.
2) Choose the Dropbox IPO, the name of which will appear only after the allotment is confirmed.
3) One of the following three ways may be necessary for you to choose: PAN ID, Demat Account number, or Application number.
