Kross Ltd’s IPO, priced at Rs 228-240 per share, has been oversubscribed by 6.34 times on the third and final day of bidding. Non-institutional investors (NIIs) subscribed 11.10 times, while retail investors showed a strong 7.20 times interest.
The company aims to raise Rs 500 crore through a mix of fresh share sales and an offer-for-sale. Kross, a key player in the trailer axles and suspension industry, reported a net profit of Rs 44.88 crore in FY24. The IPO’s grey market premium stands at Rs 48-50 per share.