Kross IPO: GMP What signals the focus changes on the stock listing date

The Kross IPO, an auto component manufacturer, has garnered a fair amount of interest from investors. With the IPO allocation already finalized, attention now shifts to the upcoming listing of Kross shares next week.

Kross Ipo listing Date

The listing date for Kross Ltd’s IPO is scheduled for September 16. Investors can expect to see Kross shares listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Kross Ipo gmp Today

The gray market premium (GMP) for Kross IPO shares today has dropped to ₹38 per share, according to market observers. This suggests that Kross shares are trading at a ₹38 premium in the gray market, above the issue price.

Kross Stock Price Estimate

Based on today’s GMP and the IPO price band, Kross shares are estimated to list around ₹278 per share. This represents a 16% premium over the issue price, which is set at ₹240 per share.

Kross IPO Bidding Details

The bidding period for the Kross IPO started on Monday, September 9, and closed on Wednesday, September 11. The IPO share allocation was completed on September 12, and the listing date is September 16, with shares set to trade on both BSE and NSE.

Kross IPO Price Band and Fundraising

The Kross IPO price band was set between ₹228 and ₹240 per share. At the upper end of the price range, the company raised ₹500 crore, with ₹250 crore from a fresh issue of 1.04 crore shares and another ₹250 crore from an Offer for Sale (OFS).

Kross IPO Subscription Response

The Kross IPO was well-received, with the issue being oversubscribed 16.81 times overall. The retail category saw a subscription of 10.76 times, while the non-institutional investor (NII) segment was subscribed 22.24 times. The qualified institutional buyers (QIBs) category received the highest subscription, at 23.32 times.

Kross IPO Lead Managers

Equirus Capital Pvt Ltd acted as the book-running lead manager for the Kross IPO, while Kfin Technologies served as the IPO registrar.