Kross IPO opens today. Should you subscribe to this Rs 500 crore issue?
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The IPO of Kross is set to open for subscription on Monday and will close on September 11. The Rs 500 crore IPO of the Jamshedpur-based company comprises a fresh equity sale of up to Rs 250 crore and an offer for sale (OFS) of up to Rs 250 crore by the promoter selling shareholders. Under the OFS, Sudhir Rai and Anita Rai will offload part stakes in the company. Kross IPO price band The company has fixed a price band of Rs 228-240 per share, where investors can bid for 62 shares in one lot. Kross IPO GMP Ahead of the issue opening, the company's shares had no GMP in the grey market. Kross IPO review "At the upper price band of Rs 240, the company is valued at FY24 P/E multiple of 34.5x based on its post issue capital. The issue appears to be fairly valued given the healthy growth track record of the company. We recommend subscribing to the issue for a long term investment horizon," said SBI Securities. "Despite a slight...