Kross Ltd has filed the Draft Red Herring Prospectus DRHP to SEBI for IPO launch. The company provides safety parts for the vehicles along with some farming equipment. Here is the Kross Ltd IPO date, price band, review, and GMP. They have reached good turnover and are ready to issue the shares to the public. The company is looking to raise Rs. 500 crores. It will have both Offer For Sale and Fresh Shares. Sudhir Rai and Anita Rai are the promoters.
Kross Ltd IPO Date, Price Band, Review
Kross Ltd deals in automobile safety parts along with some farming equipment. They are all ready to launch the IPO. The company will issue fresh shares of Rs. 250 Crores and an Offer for Sale of Rs. 250 crores. The Promoters are offering OFS. The Kross Ltd IPO may open in January 2024. The price band is The total amount raised will be Rs. 500 crores. Sudhir Rai and Anita Rai are the promoters of the company. Sudhir Rai will dilute Rs 168 Crore of shares while Anita Rai will dilute shares of Rs 82 crore. The company will use the shares mainly for the purchase of new machinery. The total spent will be Rs. 70 crores. Rs. 30 crores will be added to the capital. Around Rs. 90 crores will be used for debt payments. The shares will be available on both BSE and NSE.
Kross Ltd IPO EBITDA and Financial Report
The face value of the equity shares will be Rs. 5 per share. The company was profitable for the last year. They made a revenue of Rs. 489 crores with a net profit of Rs. 31 Crores. The company has growth in the EBITDA margin by 52.27%. The net worth has seen a growth of 18.26%. The company has run successfully since 1991. It is around 32 years of Kross Ltd in the field. Let us have more details about the Kross Ltd growth below.
Late Shri Dayanand Munjal is the founder of Kross Limited. The company established the first manufacturing unit in Ludhiana. The headquarters of the Kross LTD. is located in Jamshedpur, India. The company has capital worth Rs. 1500 lakhs. Everyone is eager to know the market performance of the company. If everything goes well, the company launch its IPO by mid-2024. There are several other IPOs to be released in December month. If you are looking for more details on other IPOs, do visit our site. We hope you get enough information about the Kross Ltd IPO.