KROSS LIMITED INITIAL PUBLIC OFFERING TO OPEN ON MONDAY, SEPTEMBER 9, 2024

Mumbai, September 06, 2024: Kross Limited (“The Company”), shall open its Bid/Offer in relation to its initial public offering of Equity Shares on Monday, September 9, 2024.

The total offer size (“Offer”) includes a Fresh Issue aggregating up to ₹ 250 crore (“Fresh Issue”) and an Offer for Sale aggregating up to ₹ 250 crore. (“Offer for Sale”)

The Anchor Investor Bidding date shall be on Friday, September 6, 2024 and the Bid Offer will be closed on Wednesday, September 11, 2024.

The Price band of the offer is ₹ 228 to ₹ 240 per Equity Share. (“Price Band”).

Bids can be made for a minimum of 62 Equity Shares and in multiples of 62 Equity Shares thereafter. (“Bid Lot”).

The Company proposes to utilize net proceeds from the Fresh Issue towards (i) Funding of capital expenditure requirements towards purchase of machinery and equipment estimated to be ₹ 70 crore, (ii) Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed from banks and financial institutions estimated to be ₹ 90 crore; (iii) Funding working capital requirements estimated to be ₹ 30 crore; and balance amount towards General corporate purposes. (“Objects of Offer”)

The Offer for Sale (“Offer for Sale”) comprises of Equity shares aggregating up to ₹168 crore by Sudhir Rai and Equity shares aggregating up to ₹ 82 crore by Anita Rai. (“Promoter Selling Shareholders”)

The Equity Shares are being offered through the Red Herring Prospectus of the Company dated September 2, 2024 (“Red Herring Prospectus” / “RHP”) filed with the Registrar of Companies, Jharkhand at Ranchi (“ROC”), SEBI and the Stock Exchanges.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the stock exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, and together with the BSE, the “Stock Exchanges”). For the purposes of the Offer, the Designated Stock Exchange shall be NSE.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, “QIB Portion”) provided that our Company may, in consultation with the BRLM, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders out of which (a) one third of such portion shall be reserved for applicants with application size of more than ₹ 0.20 million and up to ₹ 1.00 million; and (b) two third of such portion shall be reserved for applicants with application size of more than ₹1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders.

Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Accounts and UPI ID in case of UPI Bidders using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, please refer to the section titled “Offer Procedure” on page 370.

Equirus Capital Private Limited is the Book Running Lead Manager to the Offer (“BRLM”)