Countdown begins: Kross, Tolins Tyres IPOs end today; should you bid?

IPO deadline alert! The three-day subscription window to bid for the initial public offerings (IPOs) of Kross, and Tolins Tyres ends today. The grey market premium (GMP) for both IPOs has remained upbeat, reflecting favorable market sentiments for these public issues. Here are the key details that one should know before placing a bid for them on the last day.
 

Kross IPO 
 

The initial public offering of Kross has received strong demand from investors since its inception. The issue, which ends today, has been subscribed 5.64 times. According to data available on the NSE, Kross IPO has received bids for 4,22,23,896 shares against 74,88,372 shares offered, as of around 11:18 am on Wednesday. Retail Individual Investors (RIIs) placed the highest bids at 9.19 times, followed by Non-Institutional Investors (NIIs) at 4.27 times and Qualified Institutional Buyers (QIBs) at 0.46 times.

 

Meanwhile, the unlisted shares of Kross are commanding a grey market premium (GMP) of Rs 50, or 21 per cent at the upper end of the issue price, indicating favourable investor sentiment for the public issue.

The Kross IPO comprises a fresh issue of 10,416,667 shares and an offer for sale of 10,416,667 shares, with a face value of Rs 5 apiece. It is available at a price band of Rs 228-240, with a lot size of 62 shares. Accordingly, investors can bid for a minimum of 62 shares and in multiples thereof.

The three-day subscription window for the Kross IPO concludes today. Following the closure of the subscription window, the allotment of Kross shares is scheduled for Thursday, September 12, 2024. Subsequently, the company’s shares will be credited to demat accounts on Friday, September 13, 2024.

Kross shares are slated to make their debut on the bourses on Monday, September 16, 2024, by listing on the BSE and NSE.

Should you subscribe to Kross IPO?
 

The public issue of Kross has garnered favourable reviews from noted brokerages, including SBI Securities, Deven Choksey Research, and BP Wealth Management. READ MORE

Tolins Tyres IPO

The subscription window for the initial public offering of Tolins Tyres, which has so far received 6.09 times subscription, concludes today. Tolins Tyres has received bids for 4,56,08,244 shares against 74,88,372 shares offered via public issue, as per NSE data.

The IPO has garnered 9.55 times bidding from Retail Individual Investors (RIIs), while Non-Institutional Investors bid for 5.54 times. Meanwhile, Institutional Investors placed bids 0.46 times for the Tolins Tyres IPO.

With the IPO, Tolins Tyres is offering a fresh issue of 8,849,558 shares and an offer for sale of 1,327,434 shares, with a face value of Rs 5 apiece. The Tolins Tyres IPO is available at a price band of Rs 215-226, with a lot size of 66 shares. Thus, investors can bid for a minimum of 66 shares and in multiples thereof.

Adding to the buzz, the unlisted shares of Tolins Tyres are trading at a premium of Rs 39, or 17.26 per cent, from the upper end of the IPO price of Rs 226.

The allotment date for the Tolins Tyres IPO is likely to take place on Thursday, September 12, 2024. Subsequently, the company’s shares will be credited to demat accounts on Friday, September 13, 2024.

Shares of Tolins Tyres are expected to list on the BSE and NSE tentatively on Monday, September 16, 2024.

Should you bid for Tolins Tyres IPO?  

Brokerage firm Swastika Investmart recommends that investors seeking long-term exposure to the tyre industry may consider applying for the Tolins Tyres IPO.  READ MORE