Kross IPO Listing Date Announced: What GMP Signals Ahead of Share Debut
Kross IPO Listing Date and GMP
Kross footwear, a leading Indian footwear brand, has finally announced its much-awaited IPO listing date. The company plans to list its shares on both the BSE and NSE on August 5, 2023. The IPO price band has been set at Rs. 850-900 per share. The IPO comprises a fresh issue of shares worth Rs. 500 crore and an offer for sale (OFS) of shares by existing shareholders worth Rs. 300 crore.
Ahead of the IPO listing, the company's Grey Market Premium (GMP) has been trading in a range of Rs. 100-110. This indicates a positive sentiment among investors towards the IPO, and suggests that the shares could list at a premium to the issue price.
Key Details of Kross IPO
- IPO opens: July 25, 2023
- IPO closes: July 27, 2023
- Listing date: August 5, 2023
- Price band: Rs. 850-900 per share
- Fresh issue: Rs. 500 crore
- OFS: Rs. 300 crore
- GMP: Rs. 100-110
Key Risks Associated with Kross IPO
While the Kross IPO offers a potential opportunity for investors, there are also some key risks to consider. These risks include:
- Competition: The footwear industry is highly competitive, with several established players. Kross faces competition from both domestic and international brands.
- Dependence on Wholesale Channels: Kross relies heavily on wholesale channels for its sales. Any disruption in these channels could impact the company's revenue.
- Rising Input Costs: The cost of raw materials used in footwear manufacturing has been rising in recent years. This could squeeze Kross's margins.
Conclusion
The Kross IPO is a significant event for the Indian footwear industry. The company has a strong brand presence and a loyal customer base. However, investors should carefully consider the risks involved before investing in the IPO.
Comments