Kross IPO share allotment soon: Check status, GMP, listing date & other details

The share allotment of Kross IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE or even on the registrar's website.

Firstly, here's how you can know the status on BSE:

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company's name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.

To check the status of Kross IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the steps below:

Step 1: Visit the Kfin Technologies website (https://rtiop.kfintech.com/ipostatus/)

Step 2: Select Kross IPO

Step 3: Enter the PAN details and click search to know the status

Kross GMP

The company's shares are expected to get listed on the exchanges on September 16. In the unlisted market, the company's shares are trading with a GMP of Rs 50, which translates to a premium of 21% to the issue price.

Also Read: Western Carriers IPO opens Friday: Price band, GMP among 10 things to know before subscribing

Kross IPO subscription

The initial public offer (IPO) of Kross was subscribed nearly 17 times, driven by robust demand across categories.

The IPO proceeds will be used by the management to repay debt and fund future growth which will likely boost earnings growth for the company.

Kross is a prominent manufacturer of a wide range of forged and machined components in India, with a growing export presence globally.

It manufactures a wide range of high performance and safety critical components for the commercial vehicle and tractor segment and operates out of its five manufacturing facilities in Jamshedpur, Jharkhand which are equipped with capabilities to design, develop and manufacture its diverse product portfolio.

The company, which counts Ashok Leyland and Tata International DLT as its key clients, supplies its products to a diversified client base which includes large original equipment manufacturers (OEMs) manufacturing M&HCV and tractors, tier one suppliers to the OEMs in the M&HCV segment, domestic dealers and fabricators for its trailer axle and suspension business.

It has also attracted new customers such as Leax Falun AB, a Sweden based company manufacturing propeller shafts for commercial vehicle OEMs and a Japan based OEM manufacturing commercial vehicles.

For the year ended March 2024, revenue from operations increased 27% year-on-year to Rs 620 crore, while net profit after tax increased 45% to Rs 44.8 crore. Its revenue, EBITDA and PAT has grown at a CAGR of 44.4%, 65.5% and 91.8%, respectively over FY22-24.

Equirus Capital is the sole book running lead manager to the offer.

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