Kross IPO allotment status: Here’s how to check status on NSE, Kfin Technologies

Kross Limited IPO shares allotment status is expected to be finalised on Thursday, September 12, after the subscription closed with a strong demand. The mainboard issue was open for subscription from September 9 to September 11.

Kross IPO was booked 16.81 times on the last day of bidding as investors across categories applied for more than 25.8 crore shares against 1.53 crore shares on offer.

The retail portion of the IPO was booked 10.76 times while the Non-Institutional Investors (NIIs) booked their category 22.24 times. The Qualified Institutional Buyers (QIBs) showed the highest demand in the initial public offer by subscribing their quota 23.32 times.

Investors waiting for the Kross IPO allotment status can check the details online after the company finalises the share allocation. The IPO share allotment status can be checked on the websites of the NSE, BSE and the registrar, Kfin Technologies.

Steps to check Kross IPO share allotment status on registrar’s website

• Open the website of Kfin Technologies https://www.kfintech.com/
• Click on ‘Products’ on the main menu and go to ‘IPO Allotment Status’ link
• On the IPO Allotment Status page select any of the links from 5 options.
• Enter your PAN details, Demat account number or IPO application number
• Enter Captcha and click on the search option
• The share allocation details will appear on screen

How to check Kross IPO share allotment status on NSE website

• Visit NSE IPO allotment status page at www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Sign up or log in with your details. Investors mandatorily need to register on the NSE website to check IPO allotment status.
• Select Kross Limited from the list for issue names
• Enter your PAN
• Enter application number
• Click submit to view details

You can also check the share allotment status on the BSE website by entering necessary details like your PAN and IPO application number. It’s important to note that the name of the company will appear on the list for issue names only after the share allocation details are finalised.

Kross IPO details

Kross IPO was a book-building issue worth ₹500 crore. The initial public offering comprised a fresh issue of 1.04 crore shares, aggregating to ₹250 crore, and an offer-for-sale (OFS) component of size aimed at raising ₹250 crore.

The Kross IPO price band was set at ₹228 to ₹240 per equity share. The minimum lot size was 38 shares, meaning a retail investor would have to pay ₹14,880 to apply for the IPO. On September 13, refunds for unsuccessful bidders and credits of shares to Demat accounts for the allottees will be made.

The listing date for Kross Limited IPO has been tentatively fixed as September 16. Shares of Kross Limited will be listed on the NSE and BSE.

Kross IPO objectives

Kross Limited plans to allocate the funds raised from the public issue towards financing capital expenditures, acquiring machinery and equipment. It will also use the proceeds for repaying or prepaying existing borrowings. Additionally, a portion of it will be used to support working capital needs and for general corporate purposes.

About Kross Limited

Established in 1991, Kross Limited is a diversified company specialising in the production and supply of trailer axles and suspension assemblies. It also focuses on the production and supply of a broad array of forged and precision-machined high-performance safety-critical components for medium and heavy commercial vehicles, as well as farm equipment.