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

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.

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

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.

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

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

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.

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.