Kross Shares Listed at Rs 240, No Gains for Investors

Incorporated in 1994, Kross Limited is one of the leading manufacturers and suppliers of trailer axles, suspension assemblies, and critical safety parts for medium and heavy commercial (M&HC)Vehicles and farm equipment. Backed with more than three decades of expertise, Kross Limited has emerged as one of the leading companies within the field of automotive components in India. 

The Kross Limited IPO was open for subscription from September 9, 2024, to September 11th, 2024, It is set to be listed on exchanges like NSE and BSE on September 16, 2024. The company had issued 20,833,334 shares. Out of these, 10,416,667 shares worth Rs.250 Crores are offered through a fresh issue, and 10,416,667 shares worth Rs.250 Crores are offered through an offer for sale. 

The IPO was subscribed 17.66 times the issue price leading to the last grey market premium(GMP) of Rs.24.50. The issue price of Kross Limited was at a price band of Rs. 228-240 and the company was listed in the exchange at Rs.240  which is a 0.00% increase from the allotment price.

To understand more about this stock you can check out our article on Kross Limited IPO analysis on Rupeezy’s Blog. The article explores the company’s financial health, competitive advantages, and the reasons behind the strong market response to its IPO. This analysis is crucial for investors aiming to make informed decisions.

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