Kross Limited has officially listed on the stock market today, September 16, 2024, with its Initial Public Offering (IPO) priced at ₹240 per share. The stock opened flat at ₹240 on the National Stock Exchange (NSE), showing no immediate gains for investors.
Key Details
- IPO Price: ₹240
- Latest Grey Market Premium (GMP): ₹24.5 (approximately 10%)
- Listing Price on NSE: ₹240 (+0%)
- Retail Per Application Profit: ₹0
- HNI Per Application Profit: ₹0
The IPO was open for subscription from September 9 to September 11, 2024, and was oversubscribed 6.35 times overall. Retail investors subscribed 7.21 times their allotted shares, while the high net worth individual (HNI) category saw a subscription of 11.12 times.
Kross Limited manufactures trailer axles and suspension assemblies for medium and heavy commercial vehicles, as well as farm equipment. The company serves various original equipment manufacturers (OEMs) and has been expanding its presence in both domestic and international markets.
For the fiscal year ending March 2024, Kross Limited reported a 27% increase in revenue from operations, totaling ₹620 crore, with a net profit after tax rising by 45% to ₹44.8 crore.
