IPO: Kross Manufacturers (I) Pvt. Ltd. Lists on NSE, BSE
Key Highlights
- Kross Manufacturers (I) Pvt. Ltd. makes a successful initial public offering (IPO) debut.
- The company's shares are now listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
- The IPO was oversubscribed by 45 times, indicating strong investor interest.
IPO Details
Kross Manufacturers (I) Pvt. Ltd., a leading manufacturer of automotive components, recently concluded its IPO with great success. The company offered 25,000,000 equity shares at a price band of Rs. 872 to Rs. 949 per share. The IPO was oversubscribed by 45 times, reflecting the strong demand for the company's shares among investors.
The IPO proceeds will be utilized by the company for capital expenditure, working capital requirements, and general corporate purposes. The company plans to use a portion of the funds to expand its manufacturing capacity and enhance its product portfolio.
Company Profile
Kross Manufacturers (I) Pvt. Ltd. is a renowned manufacturer of a wide range of automotive components, including powertrain components, chassis components, and body panels. The company has a strong customer base that includes leading original equipment manufacturers (OEMs) in the automotive industry.
The company's manufacturing facilities are located in various parts of India, and it has a dedicated team of engineers and technicians who are committed to delivering high-quality products. Kross Manufacturers (I) Pvt. Ltd. has a strong track record of financial performance, with consistent growth in revenue and profitability.
Market Outlook
The automotive industry in India is expected to witness significant growth in the coming years, driven by factors such as rising disposable income, increasing population, and government initiatives to promote electric vehicles. This growth is likely to create a favorable environment for companies like Kross Manufacturers (I) Pvt. Ltd., which are well-positioned to cater to the growing demand for automotive components.
The company's strong product portfolio, experienced management team, and commitment to quality make it a promising investment opportunity for investors looking to participate in the growth of the automotive sector in India.
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