The initial public offer of auto parts manufacturer Kross Ltd received 88 per cent subscription on the first day of bidding on Monday.
The initial share sale received bids for 1,34,95,044 shares against 1,53,50,877 shares on offer, according to NSE data.
The category for Retail Individual Investors (RIIs) received 1.50 times subscription while the portion for non-institutional investors got subscribed 61 per cent.
Kross Ltd on Friday said it has mobilised Rs 150 crore from anchor investors.
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 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.
The issue, with a price band of Rs 228-240 per share, will conclude on September 11.
Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, pay

The solar power plant is situated at Hyderabad Factory located at Plot No. 4, Industrial Park Kucharam Village, Manoharabad Mandal, Medak, Hyderabad, Telangana- 502336 and has become operational
now. In a strategic move to harness sustainable energy sources and mitigate electricity costs incurred during the production process.

Market regulator had directed NSE to appoint a valuer in its interim order in April

Capital markets watchdog Sebi has notified rules to streamline the framework for the registration of Foreign Venture Capital Investors (FVCIs).
Under this, the process of granting registration to FVCIs and processing other post-registration references has been delegated to designated depository participants (DDPs) in line with provisions prescribed for FPIs (Foreign Portfolio Investors).
An applicant seeking registration as an FVCI is required to engage a DDP to avail of its services for obtaining a registration certificate as FVCI and at all times the DDP and the custodian of the FVCI shall be the same entity.
At present, the processing of applications for granting registration to FVCIs and related due diligence is carried out by the Securities and Exchange Board of India (Sebi).
“No person shall buy, sell or otherwise deal in securities as a foreign venture capital investor unless it has obtained a certificate granted by a designated depository participant on behalf of the Board