PINAKI MAJUMDAR
Jamshedpur, Dec 9: Adityapur-based Kross Ltd has submitted a draft prospectus with the Securities and Exchange Board of India (SEBI) for raising funds through an Initial Public Offering (IPO) of shares.
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The Rs 500 crore worth IPO comprises fresh issues worth up to Rs 250 crore, and an offer for sale aggregating up to Rs 250 crore by the promoters – Sudhir Rai and Anita Rai.
The promoters of the company include Sudhir Rai, chairman and managing director; Anita Rai, Whole Time Director; Sumeet Rai, Whole Time Director, and Kunal Rai, Chief Financial Officer.
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Kross is a specialist in manufacturing forging components for the top OEMs and Tier 1 companies in India.
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It manufactures a wide range of high-performance and safety critical components for the commercial vehicles and tractor segments and operates out of its five manufacturing facilities in Jharkhand.
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