Sign in Subscribe
Initial public offerings

Kross IPO Listing: A Flat Listing with Shares Rising to 10% Intraday High

Strategic Insights

— 1 min read

The Kross IPO, which offered a combination of fresh shares and offer for sale, was listed on the National Stock Exchange with a flat listing at Rs 240 apiece. The IPO received bids from September 09 to 11, with the shares allotment finalised on September 12. Despite a flat listing, the shares of Kross rose 10% to an intraday high of Rs 265.99. The company had raised Rs 500 crore through the IPO, with a minimum lot size of 62 shares for retail buyers.

Key Takeaways:

  • The Kross IPO was listed on the National Stock Exchange with a flat listing at Rs 240 apiece.
  • The company offered a combination of fresh shares and offer for sale, raising Rs 500 crore.
  • The IPO was open to investors for bidding from September 09 to 11, with the shares allotment finalised on September 12.
  • The shares of Kross rose 10% to an intraday high of Rs 265.99, despite the flat listing.
  • The company manufactures and supplies trailer axles and suspensions, as well as high-performance forged and precision machined safety critical parts for M&HCV and agricultural equipment.
  • Equirus Capital was the lead book runner of the Kross IPO, while Kfin Technologies was the registrar for the issue.

Statistics:

  • Rs 500 crore: The amount raised by Kross through the IPO.
  • 62 shares: The minimum lot size for retail buyers.
  • Rs 14,880: The amount required for the minimum lot size.
  • 10%: The rise in shares of Kross to an intraday high of Rs 265.99.
  • September 09-11: The period during which the IPO was open to investors for bidding.

Sources:

  • IE Online Media Services Pvt. Ltd. via Contify.com (Copyright 2024)

Read more