The three-day initial public offering (IPO) that ended on September 11 saw a strong response from all categories of investors, though qualified institutional buyers (QIBs) are leading the way.
The issue was subscribed 16.81 times, with the retail category registering 10.76 applications. Non-institutional investors (NII) and qualified institutional buyers (QIB) registered the issue 22.24 and 23.32 times, respectively.
The allotment of shares and credit to demat accounts is expected to be completed by now, while the refund process to those bidders who did not get allotted is also likely to be completed by now.
Investors obtain shares through a draw and the entire process is overseen by the registrar. On the allotment date, investors are informed of the number of shares allocated to them compared to the number of bids made.
You can check the status of the allotment through the BSE or by visiting the registrar’s website. Here is how you can check the status on the BSE or even on the registrar’s website.
First, here’s how you can find out your BSE status
Step 1:Visit the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
Step 2:Select the issue name, i.e. the company name from the drop-down menu.
Step 3:Enter the application number or PAN number to check the allotment status.
To check the status of Kross IPO assignment through the registrar, which is Intime India Link In this case, please follow the steps below.
Step 1:Visit the Kfin Technologies website (https://rtiop.kfintech.com/iposttatus/)
Step 2:Select Kross IPO
Step 3:Enter the PAN details and click on search to know the status
Kross IPO Proceeds
He IPO Proceeds will be used by management to pay down debt and fund future growth, which will likely boost the company’s earnings growth.
Kross is a leading manufacturer of a wide range of forged and machined components in India, with a growing export presence globally.
Manufactures a wide range of high-performance, safety-critical components for the commercial vehicle and the tractor segment and operates from its five manufacturing plants in JamshedpurJharkhand, which are equipped with capabilities to design, develop and manufacture their diverse product portfolio.
The company, which has Ashok Leyland and Tata International DLT As its key customers, it supplies its products to a diversified customer base that includes major Original Equipment Manufacturers (OEMs) manufacturing M&HCV and tractors, Tier 1 suppliers to OEMs in the M&HCV segment, national distributors and manufacturers for its axle and trailer suspension business.
It has also attracted new customers such as Leax Falun AB, a Sweden-based company that manufactures propeller shafts for commercial vehicle original equipment manufacturers (OEMs), and a Japan-based original equipment manufacturer (OEM) that manufactures 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 rose 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, during FY 2022-24.
Equirus Capital It is the only book that manages the offer.
(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of the Economic Times)
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