Company name: Kross Limited

IPO Size: Fresh issue of Rs 250 Crores and Offer for Sale of Rs 250 Crores

IPO Dates: 9 September, 2024 - 11 September, 2024

Price Band: 228-240

Lot Size: 62 Shares and in multiple thereof

Lead manager: Equirus Capital Private Limited

Registrar: KFin Technologies Limited

About the company:

Kross Limited, originally established as "Kross Manufacturers (India) Private Limited" on May 9, 1991, in Bihar, India, has steadily evolved over the years into a significant player in the manufacturing sector. The company initially operated as a private limited entity, focusing on producing, assembling, and servicing a broad spectrum of machinery and components. These include critical parts for the automotive industry, such as those used in motor vehicles, trucks, and tractors. Over time, Kross Limited expanded its operations to include original equipment manufacturing, subcontracting, and exporting, which allowed it to diversify its product offerings and enhance its market presence. The company transitioned to a public limited company, officially adopting the name "Kross Limited" on January 17, 2017. Today, its registered office is strategically located in the Adityapur Industrial Area of Jamshedpur, Jharkhand, a hub for industrial activity in the region. The company's long-standing commitment to quality and innovation has positioned it as a trusted name in the manufacturing industry.

Clientele:

Kross Limited serves a diverse range of clients, primarily within the automotive sector, though specific client names are not explicitly listed in the document. The company's clientele likely includes major automotive manufacturers, vehicle assembly plants, and other industrial players requiring high-quality machinery and components. Through its extensive manufacturing capabilities and commitment to service excellence, Kross Limited has built strong relationships with its clients, catering to both domestic and international markets. These clients rely on Kross Limited not only for their manufacturing needs but also for their expertise in assembling and servicing complex machinery, ensuring the longevity and reliability of the products they deliver. The company's ability to meet the stringent demands of its clientele is a testament to its robust operational framework and its focus on continuous improvement and customer satisfaction.

Financial Performance: (Figures in Rupees Crores)
Top Management:

Sudhir Rai, Chairman and Managing Director of our company. He holds a Bachelor of Science degree from the University of Delhi and a Diploma in Business Administration from the Xavier Institute of Management. He is currently serving as a Director at Tuff Seals Private Limited, where he has been on the board since 1982. Previously, he was a Director at Narbheram & Co Limited from September 20, 2004, to August 06, 2007, and at TSF Limited from October 18, 2005, to September 01, 2015. Sudhir Rai has been involved with our company since its inception, primarily focusing on policy matters.

Anita Rai, Whole-time Director of our company. She holds a Bachelor's degree in Education from the University of Delhi and a Postgraduate Certificate in Logistics and Supply Chain Management from XLRI Jamshedpur, School of Business and Human Resources. She has been with our company since its inception, primarily overseeing store and purchasing activities.

Objectives of the issue:

The Company intends to use the Net Proceeds for the following purposes:

  1. Financing capital expenditures for the purchase of machinery and equipment.

  2. Repaying or prepaying, either in full or in part, certain outstanding borrowings from banks and financial institutions.

  3. Providing for the Company's working capital needs.

  4. Covering general corporate expenses.

DISCLAIMER: All the information above is for educational purposes only and in any way is not a recommendation.