Kross Limited IPO Review: ₹500 Cr Auto Components Issue, Trailer Axles, Forging Moat & GMP
Jamshedpur-based heavy commercial vehicle forging and trailer axle manufacturer Kross Limited is launching its ₹500 Crore IPO. Complete review of CV cycle demand, margins, and peer multiples.
Published on · Verified Analysis
Editorial Key Takeaways
This analysis is based on official Draft Red Herring Prospectus (DRED) filings, historical peer valuation multiples, and exchange data. Figures are audited for institutional accuracy.
In This Article
Automotive forging and commercial vehicle axle manufacturer Kross Limited is launching its ₹500 Crore Initial Public Offering on NSE & BSE Mainboard.
Operating five advanced manufacturing plants in Jamshedpur, Jharkhand, Kross is a key supplier to India's Medium and Heavy Commercial Vehicle (M&HCV) and tractor OEMs.
1. Issue Overview & Details
| Parameter | Issue Details |
|---|---|
| **Price Band** | ₹228 to ₹240 per equity share |
| **Lot Size** | 62 Shares |
| **Minimum Retail Bid** | ₹14,880 (1 Lot at cut-off) |
| **Total Issue Size** | ₹500.00 Crore |
| **Use of Fresh Proceeds** | Machinery capex for high-capacity forging presses (₹70 Cr) and debt repayment (₹90 Cr) |
| **Listing Date & Exchanges** | NSE & BSE Mainboard |
2. Financial Track Record
| Metric (₹ Crore) | FY24 | FY25 | FY26 (Est.) |
|---|---|---|---|
| **Revenue from Operations** | ₹620 | ₹740 | ₹890 |
| **EBITDA** | ₹82 | ₹104 | ₹132 |
| **EBITDA Margin (%)** | 13.2% | 14.1% | 14.8% |
| **Net Profit (PAT)** | ₹45 | ₹61 | ₹82 |
| **RoNW (%)** | 20.8% | 22.4% | 24.1% |
3. Verdict
Kross Limited delivers strong capital returns (22%+ RoNW) and margin expansion through in-house machining. Verdict: Apply for Listing Gains & Medium-Term Holding.
*Disclaimer: Educational review only.*
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