Thu Sep 12 18:57:32 UTC 2024: ## Kross Limited IPO Allotment Finalized Today, Over 17 Times Oversubscribed

**Mumbai, India – September 12, 2024:** The highly anticipated initial public offering (IPO) of Kross Limited, a leading manufacturer of trailer axles and suspension assemblies for commercial vehicles and farm equipment, has concluded with allotments being finalized today. The IPO, which opened for subscription from September 9th to 11th, was met with strong investor interest, being oversubscribed by 17.66 times.

The non-institutional investor (NII) segment saw the highest demand, with an oversubscription of 23.40 times. Retail investors also displayed strong enthusiasm, oversubscribing the retail portion by 11.26 times. Consequently, shares will be allocated to retail individual investors (RIIs) on a proportional basis.

Investors can check their allotment status through the IPO registrar, Kfin Technologies Limited, or the BSE website. Those who did not receive an allotment can expect refund processing to begin on September 13th, 2024. Allotted shares will be credited to investors’ demat accounts on the same day as the refunds.

The Kross Limited IPO is expected to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 16th, 2024. The company plans to utilize the net proceeds from the IPO for various purposes, including funding capital expenditure for new machinery and equipment, repaying outstanding borrowings, meeting working capital requirements, and general corporate purposes.

Kross Limited, recognized as a prominent player in the Indian trailer axle and suspension assembly market, has witnessed significant growth over the past three years. The company has established long-term partnerships with major OEMs such as Ashok Leyland Limited and Tata International DLT Private Limited.

The grey market premium (GMP) for the Kross IPO currently stands at ₹45 per share, indicating an anticipated listing price of ₹285, a premium of 18.75% over the issue price of ₹240. However, it is important to remember that GMP is a preliminary indicator and should not be solely relied upon for investment decisions.

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