Kross IPO Details
Issue Date
--
Price Range
₹228 - ₹240
Lot Size
62
IPO Size
₹500.00 Cr
Kross IPO Listing Details
Listing On
16 Sep'24
Issue Price
₹240
Listed Price
₹ 240
Retail Gain/Listing Gain
▲0.00%
Schedule of Kross IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
16/09/2024
Kross Limited Company Background
Kross Limited is a manufacturer and supplier of trailer axle and suspension assembly, forged and machined high performance safety critical parts for medium and commercial vehicles, and farm equipment.
The company is widely recognized as one of the prominent manufacturers of trailer axles and suspension assembly in India (Source: CRISIL Report).
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Kross Limited Competitive Strengths
Long standing relationship with large OEMs and their tier one suppliers, domestic dealers and fabricators
In over three decades of their operations, the company has established long-standing relationships with several well established OEMs like Ashok Leyland Limited, Tata International DLT Private Limited, a leading Indian automobile OEM, Indian farm equipment OEM, and a global Tier I supplier of auto components. Their ability to customise solutions as well as maintain consistent quality has helped them serve over 200 customers in the last three fiscals.
Integrated manufacturing operations coupled with in-house product and process design capabilities which offer scale, flexibility and comprehensive solutions
The company has five manufacturing facilities in Jamshedpur, Jharkhand that can design, develop and manufacture a diverse product portfolio. They have backward integration with design, process engineering, forging, casting, and machining capabilities that allows greater control over process, delivery timelines, pricing, and quality. This reduces their dependence on third parties, streamlines production process and improves operational efficiencies.
Diversified product portfolio with a focus on continuous value addition
They manufacture and supply a wide range of forging, and machined precision components and assemblies. Further, they also manufacture high precision components like companion flanges, axle shafts, rear end spindles, anti-roll bars and stabiliser bar assembly among others. They offer comprehensive one-stop solutions to their customers including design, process engineering and high precision manufacturing including foundry, heat treatment, fabrication, machining and assembly facilities.
Risk Factors
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Their top five customers contributed a significant portion (more than 66% in each of the previous three Fiscals) of their revenues. The loss of a customer or any reduction in demand from any of them will hurt the business
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Demand for their products is linked to the growth and sales of vehicles to the end customer. Decline in sales may adversely affect the demand for their products, which in turn would hurt their business
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Any shutdown of their existing or future manufacturing facilities or any other production problems caused by unforeseen events may reduce sales and adversely affect their business
Key Strategies
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Expand capacities at their existing manufacturing facilities to increase the manufacturing scale for existing products and creation of new products
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Create manufacturing capabilities in axle beam extrusion and backward integration capabilities into the seamless tube
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Expand geographical reach through growing exports
Kross Limited Key Financials
Here are the key financials for Kross Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How To Apply for Kross Ltd IPO?
Here are the steps to apply for Kross Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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