The Kross IPO has garnered significant attention from both institutional and retail investors. As the allotment process is set to be finalized, here’s a comprehensive guide on the Kross IPO Allotment Status details and some insights about the company and market expectations.
Overview of the Kross IPO
Kross Limited, a prominent player in the manufacturing sector, recently concluded its Initial Public Offering (IPO). The subscription period for this IPO was from September 9 to September 11, and it saw an overwhelming response, being oversubscribed 17.66 times. Specifically, non-institutional investors (NIIs) showed immense interest with an oversubscription rate of 23.40 times, while the retail segment was oversubscribed 11.26 times. The shares were priced between ₹228 and ₹240, indicating strong market interest.
Given this high demand, the allotment process for shares will be done on a proportional basis for retail individual investors. For those who do not receive an allotment, the refund process will begin promptly on September 13, 2024. The shares allotted will be credited to investors’ demat accounts on the same day as the refunds. The Kross Limited stocks are expected to be listed on the BSE and NSE platforms on September 16, 2024.
How to Check Your Kross IPO Allotment Status
Checking your allotment status is straightforward and can be done via two main platforms:
Kfin Technologies Limited Website:
- Visit Kfin Technologies IPO Status.
- Select ‘Kross Limited’ from the IPO dropdown menu.
- Choose between Application No., Demat Account, or PAN to enter your details.
- Complete the Captcha and submit your information to view your allotment status.
BSE Website:
- Go to the BSE’s IPO allotment page.
- Under ‘Issue Type’, select ‘Equity’.
- Pick ‘Kross Limited’ from the ‘Issue Name’ dropdown.
- Enter your PAN or application number.
- Confirm you’re not a robot and submit to see your status.
About Kross
Kross Limited is known for its robust manufacturing capabilities, particularly in producing trailer axles, suspension assemblies, and critical safety components for medium and heavy commercial vehicles (M&HCV) as well as farm equipment. The company has established itself as a leader in the Indian market and maintains long-term relationships with major OEMs like Ashok Leyland and Tata International DLT Private Limited.
Having started its operations in 2019, Kross has seen significant growth, driven by its focus on high-performance and safety-critical components. Its strong market position is supported by partnerships with leading domestic and international clients.
Grey Market Premium (GMP) and Its Implications
The grey market premium (GMP) for Kross IPO currently stands at ₹45 per share, suggesting that the shares might list at ₹285, which is an 18.75% premium over the issue price of ₹240. GMP provides a preliminary indication of market sentiment and potential listing price, though it should not be the sole basis for investment decisions.
Disclaimer
While the IPO of Kross Limited has attracted considerable attention, it’s crucial for investors to make informed decisions. Insights from the grey market and oversubscription details are useful, but they should be combined with advice from certified financial experts. Always consider a comprehensive analysis before making investment choices.
Read more: Bajaj Housing Finance IPO: Every Details You Need to Know before Applying!
When will I get a refund if I do not receive Kross IPO?
For those who do not receive Kross IPO allotment, the refund process will begin promptly on September 13, 2024.
When are the Kross Limited stocks expected to be listed on the BSE and NSE?
The Kross Limited stocks are expected to be listed on the BSE and NSE platforms on September 16, 2024.
