M-4, Phase VI, Gamharia,
Adityapur Industrial Area,
Jamshedpur - 832108
Phone: +91 0657 2203812
Email: investors@krossindia.com
Website: https://www.krosslimited.com/
Last updated on 11-Sep-2024 18:59:10
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 4166667 | 102281462 | 24.55 |
| HNIs | 3125000 | 73146918 | 23.41 |
| HNIs 10+ | 2083534 | 48355474 | 23.21 |
| HNIs 2+ | 1041466 | 24791444 | 23.8 |
| Retail | 7291666 | 82593486 | 11.33 |
| Total | 14583333 | 258021866 | 17.69 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 2400 | 11280 | 4.7 |
| HNIs (2-10L) | 1200 | 27403 | 22.84 |
| Retail | 117608 | 1311165 | 11.15 |
| Total Applications: 1349848 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 100 | 2454.76 | 24.55 |
| FIIs | - | 1406.62 | - |
| DIIs | - | 605.04 | - |
| Mutual funds | - | 160.12 | - |
| Others | - | 173.76 | - |
| HNIs | 75 | 1755.53 | 23.41 |
| HNIs 10+ | 50 | 1160.53 | 23.21 |
| HNIs 2+ | 25 | 594.99 | 23.8 |
| Retail | 175 | 1982.24 | 11.33 |
| Total | 350 | 6192.52 | 17.69 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹7.91 | @8% ₹9.04 | @9% ₹10.17 | @10% ₹11.3 | @11% ₹12.43 | @12% ₹13.56 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 62 | 14880 | 117608 |
| sHNI | 14 | 868 | 208320 | 1200 |
| bHNI | 68 | 4216 | 1011840 | 2400 |
Kross IPO Details
| 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 of ₹5 (aggregating up to ₹250.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 54,092,756 |
| Share holding post issue | 64,509,423 |
Kross IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.03% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 30.57% | 30.29% | 16.81% |
| ROCE | 28.15% | 27.51% | 14.97% |
| D/E | 1.44 | 1.74 | 1.81 |
| RONW | 30.57% | 30.29% | 16.81% |
| EPS (Diluted) | 8.3 | 5.72 | 2.25 |
| P/E Pre IPO | 28.93 | ||
| P/E Post IPO | 34.5 |
Company Financials
Kross Limited Financial Information (Restated)
Kross Limited's revenue increased by 27% and profit after tax (PAT) rose by 45% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period | Mar 2024 | Mar 2023 | Mar 2022 | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | 352 | 250.57 | 197.82 | |||||||||||||||||||||||||||
| Revenue | 621.46 | 489.36 | 297.88 | |||||||||||||||||||||||||||
| Profit | 44.88 | 30.93 | 12.17 | |||||||||||||||||||||||||||
| Net Worth | 146.81 | 102.11 | 72.4 | |||||||||||||||||||||||||||
| Reserves | 119.76 | 88.58 | 58.88 | |||||||||||||||||||||||||||
| Borrowing | 117.9 | 88.26 | 86.06 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
About Company
Kross Limited, established in 1991 and formerly known as Kross Manufacturers (India) Private Limited, specializes in manufacturing and supplying trailer axles and suspensions, as well as a diverse range of high-performance forged and precision machined components essential for medium and heavy-duty commercial vehicles (M&HCV) and agricultural equipment. Its extensive product portfolio includes axle shafts, companion flanges, anti-roll bars, stabilizer bar assemblies, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear-end spindles, pole wheels, and various tractor components such as hydraulic lift arrangement parts, power take-off (PTO) shafts, and front axle spindles. The company caters to major original equipment manufacturers (OEMs) in the M&HCV and tractor sectors, as well as domestic dealers and trailer axle and suspension manufacturers. Kross Limited operates five ISO 9001:2015 certified manufacturing facilities in Jamshedpur, Jharkhand, equipped with advanced forging presses, high-precision machining machines, a foundry with a high-pressure moulding line, and comprehensive finishing systems including a cathodic electro dip painting system, powder coating, and heat treatment. As of June 30, 2024, the company employs 528 permanent staff.
Strength
Experienced Leadership: A qualified and experienced management team drives strategic vision and effective decision-making.
Skilled Workforce: Skilled and dedicated employees ensure high-quality production and operational efficiency.
Advanced Facilities: Strategically located manufacturing plants in Jamshedpur with state-of-the-art equipment enhance production capabilities and logistics.
Weakness
Customer Concentration Risk: Over 66% of revenue comes from the top five customers, so losing a major customer could significantly impact financial performance.
End-User Industry Risk: Demand for the company's products is tied to vehicle sales by its customers. A decline in their sales could negatively affect business and financial results.
Product Concentration Risk: A large portion of revenue depends on trailer axle and suspension assemblies for M&HCV. Regulatory or technological shifts could harm revenue and cash flow.