Kross set for Monday debut. Check GMP to know the potential listing price

After a strong response to the IPO, the shares of Kross Ltd will debut on the exchanges on Monday. Ahead of the listing, the company’s shares are trading with a grey market premium (GMP) of Rs 24.5.

With the upper price band set at Rs 240, the stock is anticipated to list at a 10% premium to the issue price.

However, it is important to note that grey market premiums are only indicators of how the company's shares are perceived in the unlisted market and can change rapidly.


The IPO proceeds will be used by the management to repay debt and fund future growth, which is expected to enhance the company’s earnings growth.

Kross is a prominent manufacturer of a diverse range of forged and machined components in India, with an expanding global export presence.


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

Kross counts Ashok Leyland and Tata International DLT among its key clients. It supplies products to a varied client base, including large original equipment manufacturers (OEMs) of medium and heavy commercial vehicles (M&HCVs) and tractors, tier-one suppliers to these OEMs, as well as domestic dealers and fabricators for its trailer axle and suspension business.


It has also attracted new customers, including Leax Falun AB, a Sweden-based company that manufactures propeller shafts for commercial vehicle OEMs, and a Japan-based OEM that produces commercial vehicles.


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

Equirus Capital acted as the sole book-running lead manager to the offer.