Kross Limited IPO Review: ₹500 Cr Auto Components Issue, Trailer Axles, Forging Moat & GMP
Jamshedpur-based heavy commercial vehicle forging and trailer axle manufacturer Kross Limited is launching its ₹500 Crore IPO. Complete review of CV cycle demand, margins, and peer multiples.
This analysis reviews the official Red Herring Prospectus (RHP), historical peer valuations, current exchange subscription trends, and grey market premium indicators. All figures are verified against official BSE, NSE, and SEBI regulatory filings.
Automotive forging and commercial vehicle axle manufacturer Kross Limited is launching its ₹500 Crore Initial Public Offering on NSE & BSE Mainboard.
Operating five advanced manufacturing plants in Jamshedpur, Jharkhand, Kross is a key supplier to India's Medium and Heavy Commercial Vehicle (M&HCV) and tractor OEMs.
1. Issue Overview & Details
| Parameter | Issue Details |
|---|---|
| Price Band | ₹228 to ₹240 per equity share |
| Lot Size | 62 Shares |
| Minimum Retail Bid | ₹14,880 (1 Lot at cut-off) |
| Total Issue Size | ₹500.00 Crore |
| Use of Fresh Proceeds | Machinery capex for high-capacity forging presses (₹70 Cr) and debt repayment (₹90 Cr) |
| Listing Date & Exchanges | NSE & BSE Mainboard |
2. Financial Track Record
| Metric (₹ Crore) | FY24 | FY25 | FY26 (Est.) |
|---|---|---|---|
| Revenue from Operations | ₹620 | ₹740 | ₹890 |
| EBITDA | ₹82 | ₹104 | ₹132 |
| EBITDA Margin (%) | 13.2% | 14.1% | 14.8% |
| Net Profit (PAT) | ₹45 | ₹61 | ₹82 |
| RoNW (%) | 20.8% | 22.4% | 24.1% |
3. Verdict
Kross Limited delivers strong capital returns (22%+ RoNW) and margin expansion through in-house machining. Verdict: Apply for Listing Gains & Medium-Term Holding.
Disclaimer: Educational review only.
Authored by IPOSathi Research
Harshit is the Lead Primary Market Analyst at IPOSathi, tracking Indian initial public offerings, SME platforms, grey market movements, and corporate actions. All research is conducted independently with zero promoter compensation.
Frequently Asked Questions
What is the issue size and price band for Kross Limited IPO?+
Kross Limited is raising ₹500 Crore (Fresh Issue ₹250 Cr + OFS ₹250 Cr) at a price band of ₹228 to ₹240 per share with a lot size of 62 shares.
Who are the major OEM clients of Kross Limited?+
Tata Motors, Ashok Leyland, International Tractors (Sonalika), and major trailer manufacturers.
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