Partner With Us NRI

Kronox Lab Sciences IPO ends with stellar subscription

Published on Jun 06, 2024 16:08

The initial public offer (IPO) of Kronox Lab Sciences received 79,19,82,620 bids for shares as against 66,99,000 shares on offer. The issue was subscribed 118.22 times.

The Non Institutional Investors (NIIs) category was subscribed 302.99 times. The Qualified Institutional Buyers (QIBs) category was subscribed 89.03 times. The Retail Individual Investors (RIIs) category was subscribed 55.72 times.

The issue opened for bidding on 3 June 2024 and it closed on 5 June 2024. The price band of the IPO was fixed at Rs 129 to 136 per share.

The offer comprised an offer for sale of 95.70 lakh equity shares aggregating to Rs 130 crore.

The promoter shareholder Jogindersingh Jaswal�s stake post-issue will decrease to 26.4% from 34.99% pre-issue shareholding, Ketan Ramani stake post-issue will decrease to 26.4% from 34.99% and Pritesh Ramani stake post-issue will decrease to 21.4% from 30%. The company will not receive any proceeds from the offer.

Ahead of the IPO, Kronox Lab Sciences on Friday, 31 May 2024, raised Rs 39.04 crore from anchor investors. The board allotted 28.71 lakh shares at Rs 136 each to 6 anchor investors.

Kronox Lab Sciences manufacture high purity speciality fine chemicals for diversified end user industries. It manufactures products compliant with reagents, pharmacopeia, and various food grade standards used in the pharmaceutical, nutraceutical, veterinary, food, biotech, chemical analysis and research, metallurgy, personal care and other specialty markets. The company�s product groups include acetates, carbonates, chlorides, citrates, hypophosphates, nitrates, nitrites, phosphates, sulphates, and other ultra-pure fine chemicals.

The firm reported a net profit of Rs 15.47 crore and total income of Rs 67.69 crore for the nine months ended on 31 December 2023.

Powered by Capital Market - Live News