Fri Sep 13 03:19:51 UTC 2024: ## Kross Limited IPO Allotment Finalized Today, Expected to List on September 16th

**Mumbai, September 12, 2024:** The much-anticipated initial public offering (IPO) of Kross Limited has concluded with the allotment process finalized today. Investors can now check their allotment status via the registrar, Kfin Technologies Limited, or the BSE website.

The IPO, which garnered significant interest from investors, was oversubscribed by a healthy 17.66 times. Notably, the non-institutional investor (NII) segment witnessed an impressive 23.40 times oversubscription, while the retail portion was oversubscribed 11.26 times.

Due to the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do 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 mainboard IPO is expected to be listed on the BSE and NSE platforms with a tentative date of September 16th, 2024. Kross Limited plans to utilize the net proceeds from the IPO for various purposes, including capital expenditure for machinery and equipment, debt repayment, working capital requirements, and general corporate purposes.

Kross is a prominent manufacturer of trailer axles, suspension assemblies, and a range of forged and precision-machined high-performance safety-critical parts for medium and heavy commercial vehicles (M&HCV) and farm equipment segments. The company has established strong relationships with major Indian and global OEMs, including 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 a potential listing price of ₹285, representing an 18.75 per cent premium over the issue price of ₹240.

**Disclaimer:** The grey market premium is a preliminary indicator and should not be the sole basis for investment decisions. Consult with certified experts before making any investment decisions.

Read More