 "Kronox Lab Sciences IPO opens today for bids; check price bands, GMP")
Kronox Lab Sciences initial public offering (IPO) is set to open for subscription on Monday, June 03, 2024. This is a book-built issue aiming to raise Rs 130.15 crores comprising entirely a fresh issue of 0.96 crore shares.
The company is a manufacturer of specialty fine chemicals for diverse end-user industries. The company's chemicals are used in applications such as manufacturing APIs, pharmaceutical formulations, scientific research, and nutraceuticals among other products.
Here are the key details Kronox Lab Sciences IPO
Kronox Lab Sciences IPO price bands
Kronox Lab Sciences IPO price band is set at Rs 129 to Rs 136 per share. The minimum lot size for an application is 110 shares. The minimum amount of investment required by retail investors is Rs 14,960. The minimum lot size investment for SNIIs is 14 lots (1,540 shares), amounting to Rs 2,09,440, and for BNIIs, it is 67 lots (7,370 shares), amounting to Rs 10,02,320.
Kronox Lab Sciences IPO key dates
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Kronox Lab Sciences IPO opens for subscription on June 3, 2024, and closes on June 5, 2024. The allotment for the Kronox Lab Sciences IPO is expected to be finalised on Thursday, June 6, 2024. Kronox Lab Sciences IPO will list on BSE, NSE with a tentative listing date fixed as Monday, June 10, 2024.
Kronox Lab Sciences IPO GMP
According to IPO platform Chittorgarh IPO, the latest grey market premium (GMP) for Kronox Lab Sciences IPO is Rs 82. With a price band of Rs 136, the estimated listing price for the IPO is Rs 218, projecting an expected listing gain of 60.29 percent per share.
Kronox Lab Sciences IPO financials
The company’s revenue increased by 16.8 percent to Rs 97.50 crore in FY23 from Rs 83.34 crore in FY22. It reported a profit after tax (PAT) of Rs 16.62 crore in FY23, up 23 per cent year on year compared to Rs 13.63 crore in FY22.
Kronox Lab Sciences IPO lead book runners
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Kronox Lab Sciences IPO, while Kfin Technologies Limited is the registrar for the issue.
Kronox Lab Sciences IPO allotment
The company has allocated not more than 50 percent of the shares offered of the net Issue for QIB (qualified institutional buyers) investors. Not less than 35 percent of the net Issue is reserved for retail buyers, and not less than 15 percent is earmarked for NII (Non-institutional investors).
About Kronox Lab Sciences IPO
Founded in 2008, Kronox Lab Sciences Limited manufactures high-purity specialty fine chemicals for diverse industries. Offering over 185 products, it supplies to India and over 20 countries, including the US, Australia, and China. With three facilities in Vadodara, Gujarat, it exports via seaports. Certified for quality standards, it conducts R&D on 122 products and serves 592 customers, with 141 being repeat clients. Employing 212 individuals, it strives for continued growth and excellence in chemical manufacturing.