GAGA Share Market News

[hfe_template id='11223'] [ad_1] The shares of Kross debuted on the exchanges on Monday with a discount of 0.42%. The stock listed at Rs 239 on BSE as against an issue price of Rs 240 per share. Meanwhile, on NSE the stock traded at par with issue price of Rs 240. Ahead of the listing, the company's shares traded with a GMP of 10%. Kross Ltd has raised around Rs 150 crore from 19 anchor investors ahead of its IPO. Marquee anchor investors who participated in the anchor round include EastSpring Investments, Matthews Asia Funds, LIC MF, ICICI Prudential, Axis MF, Kotak Mahindra Trustee, Alps/ Kotak, Invesco India, Motilal Oswal among others. The IPO proceeds will be used by the management to repay debt and fund future growth which will likely boost earnings growth for the company. Kross is a prominent manufacturer of a wide range of forged and machined components in India, with a growing export presence globally. Also read: Tolins Tyres shares list at nearly 1% premium...

[hfe_template id='11223'] [ad_1] 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...