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Initial public offerings

Kross IPO Opens Today: Key Takeaways and Statistics

Strategic Insights

— 1 min read

The Kross IPO opened for subscription on September 9, with the company offering 30% of the issue to anchor investors and 35% to retail investors, the highest allocation to retail investors in the company's history. Kross aims to raise Rs 500 crore through a combination of fresh capital and the sale of secondary shares. The company's shares are trading at a grey market premium of 21% on the unofficial grey market.

Key Takeaways:

  • Kross IPO opened for subscription on September 9, with a price band of Rs 228 to Rs 240 per equity share.
  • The company allocated 30% of the issue to anchor investors and 35% to retail investors, the highest allocation to retail investors in the company's history.
  • The allotment of shares is likely to be finalised by September 12, and the listing is expected to take place on NSE and BSE on September 16.
  • A retail participant must apply for a minimum of one lot, which has 62 shares, amounting to Rs 14,880.
  • Small Non-Individual Investors (NIIs) need to invest at least Rs 2,08,320, while big NIIs must invest Rs 10,11840.
  • Equirus Capital Pvt Ltd is the lead book runner of the Kross IPO, while Kfin Technologies has been chosen as the registrar for the issue.

Statistics:

  • 30% of the Kross IPO was allocated to anchor investors.
  • 35% of the Kross IPO was allocated to retail investors, the highest allocation to retail investors in the company's history.
  • The grey market premium of Kross shares is 21% on September 9.
  • The IPO price band is Rs 228 to Rs 240 per equity share.
  • A retail participant must apply for a minimum one lot of 62 shares, amounting to Rs 14,880.
  • Small NIIs must invest at least Rs 2,08,320, while big NIIs must invest Rs 10,11840.

Sources:

  • Contify.com - 2024 (Copyright IE Online Media Services Pvt. Ltd.)
  • IE Online Media Services Pvt. Ltd. - 2024 (distributed by Contify.com)

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