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.
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.
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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