Kross IPO Subscription Status

Kross Limited's initial public offering (IPO) has garnered moderate investor interest, with subscription rates climbing steadily over the three days. Starting modestly on day one, the IPO witnessed a gradual increase in demand, resulting in a 4.27 times oversubscription by the close of day three. This response underscores the market appetite for Kross Limited's shares and sets the stage for its upcoming listing.

The IPO opened on 9th September 2024 and has seen increasing investor participation across most categories. In particular, the Non-Institutional Investors (NII) and Retail segments have shown strong demand, while the Qualified Institutional Buyers (QIB) category has demonstrated limited interest.

This response to Kross IPO comes amid the current sentiment in the Indian stock market, particularly towards automotive and agricultural equipment components companies. The company's diverse product portfolio and established presence in manufacturing safety-critical parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment appear to have attracted attention from certain investor segments.

Subscription Status of Kross Limited IPO for Days 1, 2, and 3:

On day 1, Kross Limited IPO was subscribed 0.95 times. By the end of day 2, the subscription status had risen to 2.73 times; on day 3, it reached 4.27 times.

Here are the subscription details for Kross Limited IPO as of Day 3 (11th September 2024 at 11:11:08 AM):

Total Applications: 3,17,890

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• ** The portion of anchor investors is not included in the total number of shares offered.

Key Highlights:

• The IPO of Kross Limited is currently subscribed 4.27 times, with strong demand from NII and Retail investors.
• NII have shown significant interest with a subscription ratio of 6.29 times.
• Retail investors have shown solid interest, with a subscription ratio of 5.84 times.
• QIB interest has been more modest, with a subscription ratio of 0.03 times.
• The overall subscription trend shows steady demand across investor categories.

Kross Limited IPO - Day 2 Subscription at 2.73 Times

Key Highlights:

• On Day 2, Kross Limited's IPO was subscribed 2.73 times, with strong demand from Retail Individual Investors (RII) and Non-Institutional Investors (NII).
• Retail investors showed increased interest with a subscription ratio of 4.15 times, more than doubling their subscription from the previous day.
• Non-Institutional Investors (NII) showed significantly increased interest with a subscription ratio of 3.03 times.
• Qualified Institutional Buyers (QIB) showed minimal interest with a subscription ratio of 0.03 times.
• The overall subscription trend indicated building momentum, with retail and NII categories showing increased participation.

Kross Limited IPO - Day 1 Subscription at 0.95 Times

Key Highlights:

• On Day 1, Kross Limited's IPO was subscribed 0.95 times, with initial demand primarily from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 1.62 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 0.64 times.
• Qualified Institutional Buyers (QIB) showed no initial interest with a subscription ratio of 0.00 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Kross Limited Ltd:

Kross Limited, established in 1991 (formerly known as Kross Manufacturers (India) Private Limited), is a leading manufacturer and supplier of trailer axles, suspensions, and a wide range of high-performance forged and precision machined safety-critical parts for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment.

Key features of Kross Limited:

• Product portfolio includes axle shafts, companion flanges, anti-roll bars, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and various tractor components
• Five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand
• Capability to manufacture forgings weighing up to 40 kg
• Advanced production facilities with forging presses, foundry, high-precision machining, in-house cathodic electro dip painting system, and heat treatment furnaces
• 528 permanent employees as of 30th June 2024
• Major clients include OEMs manufacturing M&HCVs and tractors, as well as domestic dealers and trailer axle and suspension manufacturers

Read About Kross IPO

Highlights of the Kross IPO:

• IPO Date: 9th September 2024 to 11th September 2024
• Listing Date: 16th September 16, 2024 (Tentative)
• Face Value: ₹5 per share
• Price Band: ₹228 to ₹240 per share
• Lot Size: 62 Shares
• Total Issue Size: 20,833,334 shares (aggregating up to ₹500.00 Cr)
• Fresh Issue: 10,416,667 shares (aggregating up to ₹250.00 Cr)
• Offer for Sale: 10,416,667 shares (aggregating up to ₹250.00 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE
• Book Running Lead Manager: Equirus Capital Private Limited
• Registrar: Kfin Technologies Limited