Kronox Lab Sciences IPO: GMP, review, subscription status, other details. Apply or not?

Kronox Lab Sciences Limited launched its initial public offering (IPO) today. The public issuance of ₹130.15 crore will be open for bids till June 5th, 2024. The book build issuance has been completed and offered for sale (OFS), hence the IPO will have no immediate impact on the company’s balance sheet. Kronox Lab Sciences’ IPO price range is set at ₹129-₹136 per equity share. According to stock market experts, Kronox Lab Sciences Limited shares have become available on the gray market. Kronox Lab Sciences shares currently trade at a ₹83 premium in the gray market.

Kronox Lab Sciences’ IPO subscription status

The book build issue was completely subscribed within half an hour of the IPO’s debut. By 12:15 PM on the first day of bidding, the public issue had been booked 3.84 times, the retail component had been booked 5.59 times, and the NII section had been subscribed 4.88 times.

Important details about Kronox Lab Sciences’ initial public offering 

  • Kronox Lab Sciences’ IPO GMP shares are currently trading at a premium of ₹83 in the gray market.
  • Kronox Lab Sciences IPO pricing range: ₹129 to ₹136 per equity share.
  • Kronox Lab Sciences IPO date: The book build issue began today and will be open until June 5th, 2024.
  • Kronox Lab Sciences plans to raise ₹130.15 crore through an open-for-sale (OFS) offering.
  • Kronox Lab Sciences IPO lot size: Bidders can apply in lots, with each lot containing 110 company shares.
  • Kronox Lab Sciences IPO allotment date: The basis of allotment is scheduled for Thursday, June 6th, 2024.
  • Kronox Lab Sciences IPO registrar: KFin Technologies Limited has been appointed as the official registrar for the public offering.
  • Kronox Lab Sciences IPO listing: The public offering is planned for listing on the BSE and NSE.
  • Kronox Lab Sciences IPO listing date: Following the implementation of the ‘T+3’ listing rule, the public offering is projected to hit Dalal Street on Monday, June 10, 2024.

Kronox Lab Sciences IPO: Apply or not?

Review of the IPO of Kronox Lab Sciences: Whether the is beneficial or detrimental to investors in the primary market, Asit C Mehta writes, “Kronox Lab Sciences Ltd. manufacture and market High Purity Speciality Fine Chemicals used as reacting agent in the manufacturing of Active Pharmaceutical Ingredients (APIs), as excipients in pharmaceutical formulations, as nutritional ingredients in nutraceuticals formulations, as ingredients in personal care products, as reagents for scientific research and laboratory testing, as refining agents in metal refineries, as ingredients in animal health products and as fermenting agents in biotech applications, among others, for use across the global.”

With a staff of sixteen, the CompaCompany’s internal research, development, and testing laboratory (dubbed the “RDT Laboratory”) creates new goods and tests current ones against client or industry standards. It keeps broadening its product offering in response to the shifting needs of the end-user sectors.

Speaking on the fundamentals of the company, Axis Capital said, “The company’s Revenues from operations grew at CAGR of 23.70% between Fiscal 2021 to 2023, from ₹62.46 crore to ₹95.58 crore, while its EBITDA grew at a CAGR of 21.90 percent from ₹14.80 crore to ₹21.99 crore during the same period. The company’s PAT grew at a CAGR of 30.68 percent between Fiscal 2021 to Fiscal 2023 from ₹9.73 crore to ₹16.62 crore. Further, the company is a zero-debt company with a strong balance sheet and cash flow position.”

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