The allotment status for the much-anticipated Kross Limited IPO is set to be finalized today. Investors eager to know their allotment status can check it online via the registrar, Kfin Technologies Limited, or the BSE website.

IPO Overview and Subscription Details

The Kross Limited IPO, which opened for subscription between September 9 and September 11, has generated an overwhelming response, being oversubscribed by 17.66 times. The non-institutional investor (NII) segment saw a remarkable 23.40 times subscription, while the retail portion was oversubscribed 11.26 times. The price band for the IPO was set between ₹228 and ₹240 per share.

Due to the high level of oversubscription, especially in the retail segment, shares will be allocated on a proportional basis. Investors who are not allotted shares will receive refunds starting September 13, 2024. Shares that are allotted will be credited to investors’ demat accounts on the same day as the refunds, with the IPO expected to list on the BSE and NSE on September 16, 2024.

How to Check Your Allotment Status

To check the allotment status, follow these steps:

On the Registrar’s Website:

  1. Visit the Kfin Technologies IPO status page: Kfin IPO Status
  2. Select ‘Kross Limited’ from the ‘Select IPO’ dropdown menu.
  3. Choose between Application No., Demat Account, or PAN.
  4. Enter the relevant details based on your selection.
  5. Complete the Captcha code and click ‘Submit.’

On the BSE Website:

  1. Visit the BSE IPO allotment page: BSE IPO Allotment
  2. Select ‘Equity’ under ‘Issue Type.’
  3. Choose the IPO from the ‘Issue Name’ dropdown.
  4. Enter your PAN or application number.
  5. Verify your identity by selecting ‘I am not a robot,’ then click ‘Submit.’

About Kross Limited

Kross Limited specializes in the manufacturing and supply of trailer axles, suspension assemblies, and high-performance safety-critical components for medium and heavy commercial vehicles (M&HCV) as well as farm equipment. Established as a leading manufacturer in India, Kross began operations in 2019 and has experienced significant growth. It boasts long-term associations with major OEMs such as Ashok Leyland and Tata International DLT Private Limited.

Grey Market Premium and Expected Listing Gains

Currently, the grey market premium (GMP) for Kross Limited shares is ₹45 per share, indicating a potential listing price of approximately ₹285. This represents an 18.75% premium over the issue price of ₹240 per share. The GMP reflects investor sentiment and expected demand, though it should not be solely relied upon for investment decisions.

Investment Disclaimer

The opinions expressed in this article are those of individual analysts and do not represent the views of Mint. Investors are advised to consult with certified financial experts before making any investment decisions.

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