KROSS Limited Files Q3FY26 Monitoring Agency Report on IPO Proceeds Utilization
KROSS Limited filed its Q3FY26 monitoring agency report showing utilization of ₹2,197.04 million from its ₹2,500.00 million IPO proceeds. The report confirms no deviation from stated objects, with funds deployed across capital expenditure (₹553.29 million), debt repayment (₹900.00 million), working capital (₹144.80 million), and general corporate purposes (₹468.15 million). Unutilized proceeds of ₹302.96 million are invested in bank fixed deposits earning 4.25%-6.70% returns annually.
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KROSS Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, detailing the utilization of proceeds from its Initial Public Offer (IPO). The report, filed with BSE and NSE on January 29, 2026, was prepared by India Ratings & Research Private Limited as the appointed monitoring agency.
IPO Details and Fund Utilization
The company's IPO, conducted from September 9-11, 2024, comprised a fresh issue of ₹2,500.00 million and an offer for sale of ₹2,500.00 million, totaling ₹5,000.00 million. The fresh issue involved 1,04,16,666 equity shares of face value ₹5 each, priced at ₹240.00 per share.
| IPO Component | Amount (₹ Million) |
|---|---|
| Fresh Issue Size | 2,500.00 |
| Offer for Sale | 2,500.00 |
| Total Issue Size | 5,000.00 |
| Issue Price per Share | 240.00 |
Fund Deployment Status
As of December 31, 2025, KROSS Limited has utilized ₹2,197.04 million from the IPO proceeds across four primary objectives. The monitoring agency confirmed no deviation from the objects stated in the offer document.
| Object | Original Allocation (₹ Million) | Amount Utilized (₹ Million) | Unutilized Amount (₹ Million) |
|---|---|---|---|
| Capital Expenditure for Machinery | 700.00 | 553.29 | 146.71 |
| Debt Repayment | 900.00 | 900.00 | 0.00 |
| Working Capital Requirements | 300.00 | 144.80 | 155.20 |
| General Corporate Purposes | 469.19 | 468.15 | 1.04 |
| Offer Related Expenses | 130.81 | 130.81 | 0.00 |
| Total | 2,500.00 | 2,197.04 | 302.96 |
Investment of Unutilized Proceeds
The company has deployed the unutilized IPO proceeds of ₹302.96 million in fixed deposits with Axis Bank and HDFC Bank. These investments are earning annualized returns ranging from 4.25% to 6.70%, with maturity dates extending from January 2026 to February 2027.
Key Investment Details:
- Total amount invested in FDs: ₹283.76 million
- Cash balance in monitoring account: ₹27.59 million
- Return on investment range: 4.25% - 6.70% per annum
Implementation Progress and Timeline
The monitoring agency noted delays in certain object implementations. The capital expenditure for machinery and equipment shows significant progress with ₹553.29 million utilized against the allocated ₹700.00 million. However, the completion timeline has been extended to Fiscal 2026, as approved by the Board of Directors.
The debt repayment objective was completed by September 30, 2024, with the full allocated amount of ₹900.00 million utilized. Working capital funding remains ongoing with ₹144.80 million deployed so far.
Regulatory Compliance
The report was filed pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and Regulation 41(4) of SEBI (Issue of Capital Disclosure Requirements) Regulations 2018. The monitoring agency confirmed that all utilization aligns with disclosures in the offer document, with no material deviations requiring shareholder approval.
KROSS Limited, engaged in manufacturing automobile parts, operates from its registered office in Jamshedpur, Jharkhand. The company maintains ISO certifications including IATF 16949, ISO 9001, ISO 14001, and ISO 45001, reflecting its commitment to quality and environmental standards.
Historical Stock Returns for Kross
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.93% | +3.45% | -0.20% | +9.09% | +9.30% | -25.09% |
