Kross IPO
Kross Limited (KROSS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 September 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -3.9% (likely range -13% to +9%), day's high +4.2%, chance of a gain 33%. Actual: 0.0% at the open, +12.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 43,85,964 | 10,22,81,462 | 23.3x | |
| NII (HNI) total | 32,89,474 | 7,31,46,918 | 22.2x | |
| Big NII (above ₹10 lakh) | 21,92,983 | 4,83,55,474 | 22.1x | |
| Small NII (₹2-10 lakh) | 10,96,491 | 2,47,91,444 | 22.6x | |
| Retail | 76,75,439 | 8,25,93,486 | 10.8x | |
| Total | 1,53,50,877 | 25,80,21,866 | 16.8x |
Bids on NSE and BSE together, as published by NSE, as of 11 Sep 2024, 07:00 PM. Shares offered exclude the anchor portion. 28% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Kross's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Suraj Estate DevelopersDec 2023 | 24.3x | 18.9x | 9.30x | 15.6x | ₹424 Cr | -5.6% | -1.5% |
| EPACK DurableJan 2024 | 25.5x | 28.1x | 6.29x | 16.4x | ₹652 Cr | -3.9% | -2.4% |
| Jana Small Finance BankFeb 2024 | 38.7x | 25.1x | 5.46x | 18.5x | ₹590 Cr | -4.3% | -1.2% |
| Muthoot MicrofinDec 2023 | 17.5x | 13.2x | 7.61x | 11.5x | ₹1,009 Cr | -5.4% | -3.4% |
| Windlas BiotechAug 2021 | 24.4x | 15.7x | 24.3x | 22.5x | ₹401 Cr | -5.0% | -1.7% |
| Signatureglobal (India)Sep 2023 | 12.7x | 13.5x | 6.82x | 11.9x | ₹794 Cr | +15.3% | +23.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Equirus Capital | 34 | +21.3% | 74% |
Offer documents (NSE)
Frequently asked
What is the Kross IPO price band and lot size? ₹228–240 per share, with a lot of 62 shares, so the smallest retail bid is ₹14,880.
How many times has it been subscribed? 16.8x overall: QIB 23.3x, NII 22.2x, retail 10.8x.
How did it list? It opened at ₹240, +0.0% against the issue price of ₹240, and closed its first day +8.2%.
