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.
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.
