Kronox Lab Sciences IPO

Kronox Lab Sciences IPO

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

DetailsInformation
IPO DateJune 3, 2024 to June 5, 2024
Listing DateJune 10, 2024
Face Value₹10 per share
Price Band₹129 to ₹136 per share
Lot Size110 Shares
Total Issue Size9,570,000 shares (₹130.15 Cr)
Offer for Sale9,570,000 shares (₹130.15 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Pre-issue Shareholding37,104,000 shares
Post-issue Shareholding37,104,000 shares

IPO Reservation

Investor CategoryShares Offered
QIB (Qualified Institutional Buyers)Not more than 50% of the Net Issue
Retail InvestorsNot 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:

EventDate
IPO Open DateJune 3, 2024
IPO Close DateJune 5, 2024
Basis of AllotmentJune 6, 2024
Initiation of RefundsJune 7, 2024
Credit of Shares to DematJune 7, 2024
Listing DateJune 10, 2024
UPI Mandate Confirmation5 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:

ApplicationLotsSharesAmount
Retail (Min)1110₹14,960
Retail (Max)131430₹194,480
sNII (Min)141,540₹209,440
sNII (Max)667,260₹987,360
bNII (Min)677,370₹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 Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets (₹ Cr)66.9654.0356.7937.65
Revenue (₹ Cr)68.4497.5083.3463.24
PAT (₹ Cr)15.4716.6213.639.73
Net Worth (₹ Cr)60.2844.6840.3526.81
Reserves (₹ Cr)15.567.5840.1126.57

Key Performance Indicators

KPIValues
ROE25.66%
ROCE33.15%
RoNW25.66%
P/BV8.37
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:

  1. Offer for Sale: Up to 95,70,000 Equity Shares by the Promoter Selling Shareholders.
  2. 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.

FAQs about Kronox Lab Sciences IPO

1. What is the Kronox Lab Sciences IPO price band?

The IPO price band is set between ₹129 to ₹136 per share.

2. When will Kronox Lab Sciences IPO be listed?

The IPO is expected to list on BSE and NSE on June 10, 2024.

3. How many shares are offered in the Kronox Lab Sciences IPO?

A total of 9,570,000 shares are offered, aggregating up to ₹130.15 crores.

4. What is the minimum investment required for retail investors?

Retail investors need to invest a minimum of ₹14,960 for 110 shares.

5. Who is the lead manager for the Kronox Lab Sciences IPO?

Pantomath Capital Advisors Pvt Ltd is the book-running lead manager for this IPO.

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