Kross IPO receives 2.56 times subscription on second day of offer

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Kross IPO receives 2.56 times subscription on second day of offer - Business Standard

Quick Summary:

The Jamshedpur-based company's IPO is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer-for-Sale (OFS) aggregating up to Rs 250 crore by the promoters.

The initial share sale of auto parts manufacturer Kross Ltd received 2.56 times subscription on the second day of bidding on Tuesday.

The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai.