Kross IPO Day 1: Mainboard issue subscribed 88%; check price band, offer size and other key details

Kross Limited IPO opened to a tepid demand from investors on Monday, September 9. The mainboard issue was booked only 88% across categories on the first day of bidding, as per the NSE data.

Kross Ltd IPO received bids for over 1.34 crore shares against 1.53 crore shares on offer.

Retail individual investors applied for over 1.14 crore shares against 76.75 lakh shares set aside for the category, booking the portion by 1.50%.

The issue was subscribed 61% in the Non-Institutional Investors (NIIs’) category with applications for 19.92 lakh shares against 32.89 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) portion received applications for 15,748 shares against 43.85 lakh shares reserved for the category, the NSE data showed. Investors interested in applying for Kross IPO should check these key details before applying:

Kross IPO offer size, price band and other details

Kross Ltd aims to raise ₹500 crore via its initial public offering. The mainboard offer consists of a fresh issue of 1.04 crore shares aimed at raising ₹250 crore along with an offer-for-sale (OFS) of 1.04 crore shares, aggregating to ₹250 crore.

Kross IPO price band has been fixed at ₹228 to ₹240 per share. The minimum lot size for retail investors has been fixed at 62 shares, which aggregates to an investment of ₹14,880.

Small Non-Institutional Investors (sNIIs) can place bids for a minimum lot size of 14 lots, or 868 shares, which aggregates to an investment of ₹2,08,320. Big Non-Institutional Investors (bNIIs) can place bids for 68 lots, or 4,216 shares, which aggregates to an investment of ₹10,11,840.

Kross IPO allotment status and listing date

Kross: Key Financials

Kross Limited’s revenue for FY24 increased nearly 27% to ₹621.46 crore against ₹489.36 crore in FY23. The company’s profit-after-tax grew more than 45% to ₹44.88 crore in FY24 against ₹30.93 crore in FY23. The net-worth of the company increased nearly 44% to ₹146.81 crore in FY24 from ₹102.11 crore in FY23.

Kross Ltd Promoters

Sudhir Rai and Anita Rai are the promoters of Kross Ltd. The promoters of the company jointly held 100% stake in the company before the issue.

Kross IPO registrar

The book running lead manager for Kross IPO is Equirus Capital Private Limited and Kfin Technologies Limited is the registrar for the issue.

Kross IPO objective

Kross Limited plans to use the money raised via the public issue for funding capital expenditure requirements of the company and for the purchase of machinery and equipment. The company also plans to use the money raised via the public issue for repayment or prepayment of its outstanding borrowings. A portion of the fund will also be used for funding working capital requirements and for general corporate purposes.