Kross Ltd shares debut with 0.5% discount over issue price on BSE
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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...