Kronox Lab Sciences IPO: Date, Price, GMP, Review, and Details

Kronox Lab Sciences is gearing up for its IPO, a book-built issue worth ₹130.15 crores. If you’re considering investing in this IPO, here’s everything you need to know, including the IPO date, price, GMP, review, and more.

IPO Overview

Kronox Lab Sciences is launching an IPO entirely as an offer for sale, with a total of 0.96 crore shares up for grabs. The subscription window opens on June 3, 2024, and closes on June 5, 2024. Post allotment, the shares are expected to list on BSE and NSE by June 10, 2024.

Key Details

Details	Information
IPO Date	June 3, 2024 to June 5, 2024
Listing Date	June 10, 2024
Face Value	₹10 per share
Price Band	₹129 to ₹136 per share
Lot Size	110 Shares
Total Issue Size	9,570,000 shares (₹130.15 Cr)
Offer for Sale	9,570,000 shares (₹130.15 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Pre-issue Shareholding	37,104,000 shares
Post-issue Shareholding	37,104,000 shares

IPO Reservation

Investor Category	Shares Offered
QIB (Qualified Institutional Buyers)	Not more than 50% of the Net Issue
Retail Investors	Not less than 35% of the Net Issue
NII (Non-Institutional Investors)	Not less than 15% of the Net Issue

IPO Timeline

The tentative schedule for Kronox Lab Sciences IPO is as follows:

Event	Date
IPO Open Date	June 3, 2024
IPO Close Date	June 5, 2024
Basis of Allotment	June 6, 2024
Initiation of Refunds	June 7, 2024
Credit of Shares to Demat	June 7, 2024
Listing Date	June 10, 2024
UPI Mandate Confirmation	5 PM on June 5, 2024

Investment Details

Minimum and Maximum Investment

Investors can apply for shares in lots, with each lot comprising 110 shares. Here’s a breakdown of the investment required for different investor categories:

Application	Lots	Shares	Amount
Retail (Min)	1	110	₹14,960
Retail (Max)	13	1430	₹194,480
sNII (Min)	14	1,540	₹209,440
sNII (Max)	66	7,260	₹987,360
bNII (Min)	67	7,370	₹1,002,320

About Kronox Lab Sciences

Kronox Lab Sciences Limited, established in 2008, is a leading manufacturer of high-purity specialty fine chemicals. These chemicals cater to diverse industries such as pharmaceuticals, nutraceuticals, biotech, agrochemicals, and more.

The company boasts a wide product range of over 185 items, including phosphates, sulphates, chlorides, and more. Kronox Lab Sciences exports its products to over 20 countries, including the USA, UK, China, and Australia.

Manufacturing Facilities

Kronox Lab Sciences has three manufacturing units in Vadodara, Gujarat, covering an area of 17,454 sq. m. These facilities have a combined installed capacity of 7,242 TPA and hold various certifications like ISO 9001:2015, ISO 14001:2015, and FSSC 22000.

Financial Performance

The company has shown consistent growth over the years. Here’s a snapshot of its financials:

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets (₹ Cr)	66.96	54.03	56.79	37.65
Revenue (₹ Cr)	68.44	97.50	83.34	63.24
PAT (₹ Cr)	15.47	16.62	13.63	9.73
Net Worth (₹ Cr)	60.28	44.68	40.35	26.81
Reserves (₹ Cr)	15.56	7.58	40.11	26.57

Key Performance Indicators

KPI	Values
ROE	25.66%
ROCE	33.15%
RoNW	25.66%
P/BV	8.37
PAT Margin (%)	22.6

Promoters

The company is promoted by Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani, holding a pre-issue stake of 99.98%.

IPO Objectives

The primary objectives of the IPO are:

Offer for Sale: Up to 95,70,000 Equity Shares by the Promoter Selling Shareholders.
Listing Benefits: Enhance the company’s visibility, brand image, and provide liquidity to existing shareholders.

Review and Recommendation

The IPO has received positive feedback, particularly due to the company’s strong position in the high-purity specialty chemical segment. Given the consistent financial growth and robust market presence, investors might find this IPO an attractive opportunity for medium to long-term rewards.