Kross Share Price Highlights: Stock settles 7.3% higher after debuting at par with IPO price on NSE

4 min read | Updated on September 16, 2024, 15:41 IST

SUMMARY

Kross IPO Share Price: The Jamshedpur-based company's IPO consists of a fresh issue of shares worth ₹250 crore and an offer-for-sale (OFS) component of ₹250 crore by the promoters.

Kross is a diversified player focused on manufacturing and supplying trailer axle and suspension assembly.

Kross Share Price Live Update at 3:36 pm: Kross Ltd shares closed 7.3% higher at ₹257.6 apiece on the NSE after listing at par with the issue price.

Kross Share Price Live Update at 3:07 pm: Kross Ltd shares trade 8.8% higher at ₹261.1 apiece on the NSE.

Kross Share Price Live Update at 2:25 pm: What was Kross' CAGR growth in revenue and profit between FY22 and FY24?

Between FY22 and FY24, Kross Ltd saw a 27% CAGR (Compound annual growth rate) rise in its revenue from operations and 54.5% in its profit. Commercial vehicle sales are projected to rise at a CAGR of 3-5% for the M&HCV (Medium and heavy commercial vehicles) segment, which could benefit the company.

Kross Share Price Live Update at 1:51 pm: Trading stats

Traded volume (Lakhs): 214.42
Traded value: ₹549.94 crore
Total market capitalisation: ₹1,720.98 crore

Kross Share Price Live Update at 1:02 pm: Kross Ltd shares trade 7.2% higher at ₹257.3 apiece on the NSE.

Kross Share Price Live Update at 12:25 pm: How will the company use fresh issue proceeds?

The company plans to use the fresh issue proceeds for the purchase of machinery and equipment, debt repayment, and funding its working capital requirements. A portion will also be used for general corporate purposes.

Kross Share Price Live Update at 12:02 pm: Shares of auto parts maker Kross Ltd are trading 6.6% higher at ₹255.9 a unit on the NSE.

Kross Share Price Live Update at 11:13 am: Kross shares are trading 7% higher at ₹256.8 a unit on the NSE.

Kross Share Price Live Update at 10:40 am: Price information

Current price: ₹262 (+9.1%)
Open: ₹240
Issue price: ₹240265.9239.4
Low: ₹231.9

Kross Share Price Live Update at 10:25 am: Trading stats

Traded volume (Lakhs): 68.09
Traded value: ₹167.39 crore
Total market capitalisation: ₹1,665.83 crore

Kross Share Price Live Update at 10:13 am: After making a flat D-street debut, shares of Kross Ltd rose 7.6% to ₹258.2 apiece on the NSE.

Kross Share Price Live Update at 10:00 am: Kross shares debuted at ₹240 at par with the IPO price on the National Stock Exchange and the BSE.

Kross IPO Listing Live Update at 9:45 am: Financials

Particulars	FY22	FY23	FY24
Revenue	₹297 crore	₹488 crore	₹620 crore
Net Profit/Loss	₹12.1 crore	₹30.9 crore	₹44.8 crore

Kross IPO Listing LIVE: Shares of auto parts manufacturer Kross Limited will be listed on the NSE and the BSE today. During the subscription period from September 9 to September 11, the IPO was subscribed 16.81 times.

The public offer received bids for 25,80,21,618 equity shares against 1,53,50,877 shares on offer.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 23.32 times, while the non-institutional investors (NIIs) quota was subscribed 22.24 times. The retail investors category fetched 10.76 times the subscription.

The Jamshedpur-based company's IPO consists of a fresh issue of shares worth ₹250 crore and an offer-for-sale (OFS) component of ₹250 crore by the promoters.

Under the OFS, Sudhir Rai and Anita Rai are offloading shares worth ₹168 crore and ₹82 crore, respectively.

Also Read: Upcoming IPOs: Arkade Developers, Northern Arc Capital to open for subscription; Bajaj Housing Finance to list next week

Kross IPO has a price range of ₹228-₹240 per equity share.

Kross IPO Share Price: About the company

Kross, established in 1991, is a diversified player concentrated on manufacturing and supplying trailer axle and suspension assembly and an array of forged and precision machined high-performance safety critical parts for medium and heavy commercial vehicles and farm equipment segments.

To learn more about IPO listings, schedules, and upcoming IPOs, click here.

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About The Author

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