Kross IPO Subscribed 2.56 Times On Day 2

Key Points

• The public offer of Kross footwear received bids for 25.56 crore equity shares against the offer size of 10 crore equity shares.
• The portion set aside for retail investors was subscribed 3.54 times, while the quota for non-institutional investors was subscribed 1.61 times.
• The issue comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale of up to 44,36,453 equity shares by existing shareholders.

In-depth Analysis

The initial public offering (IPO) of Kross footwear was subscribed 2.56 times on the second day of bidding. The public offer received bids for 25.56 crore equity shares against the offer size of 10 crore equity shares. The portion set aside for retail investors was subscribed 3.54 times, while the quota for non-institutional investors was subscribed 1.61 times.

The issue comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale of up to 44,36,453 equity shares by existing shareholders. The company plans to utilize the net proceeds from the fresh issue towards funding capital expenditure requirements, working capital requirements, and general corporate purposes.

The IPO is being managed by ICICI Securities, Edelweiss Financial Services, and SBI Capital Markets. The shares are proposed to be listed on the BSE and NSE.