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

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

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

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

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

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Kronox Lab Sciences IPO: The initial public offering (IPO) of Kronox Lab Sciences Limited opened today. The public issue worth ₹130.15 crore will remain open for bidders till June 5th 2024. The book build issue is complete, offering for sale (OFS), which means the IPO won’t have any immediate impact on the company’s balance sheet. The company has fixed the Kronox Lab Sciences IPO price band at ₹129 to ₹136 per equity share. According to stock market observers, Kronox Lab Sciences Limited shares have become available in the grey market. They said that shares of Kronox Lab Sciences are available at a premium of ₹83 in the grey market today.

Kronox Lab Sciences IPO subscription status

The book build issue got fully subscribed within half an hour of the IPO opening. By 12:15 PM on day one of bidding, the public issue was booked 3.84 times, the retail portion was booked 5.59 times whereas the NII segment got subscribed 4.88 times.

Important Kronox Lab Sciences IPO details

1] Kronox Lab Sciences IPO GMP: Market observers say shares of the company are available at a premium of ₹83 in the grey market today.

2] Kronox Lab Sciences IPO price: The company has fixed Kronox Lab Sciences IPO price band at ₹129 to ₹136 per equity share.

3] Kronox Lab Sciences IPO date: The book build issue opened today and will remain open until June 5th, 2024.

4] Kronox Lab Sciences IPO size: The company will raise ₹130.15 crore through an entirely open-for-sale (OFS) offering.

5] Kronox Lab Sciences IPO lot size: Bidders can apply in lots, and one lot comprises 110 company shares.

6] Kronox Lab Sciences IPO allotment date: The basis of allotment is expected on Thursday, June 6th, 2024.

7] Kronox Lab Sciences IPO registrar: KFin Technologies Limited has been appointed as the official registrar of the public issue.

8] Kronox Lab Sciences IPO listing: The public issue is proposed for listing on BSE and NSE.

9] Kronox Lab Sciences IPO listing date: In the wake of the ‘T+3’ listing rule, the public issue is expected to hit Dalal Street on Monday, June 10th, 2024.

Kronox Lab Sciences IPO: Apply or not?

10] Kronox Lab Sciences IPO reviewOn whether the IPO is good or bad for the primary market investors, Asit C Mehta reports, “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.”

The CompaCompany has an in-house research, development, and testing laboratory (“RDT Laboratory”) with a team of 16 members to develop new products and test existing products against specified industry standards or customer specifications. It continues to expand its range of products to meet the changing demands of the end-user industries.

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.”

Meanwhile, Swastika Investmart has given the IPO a ‘buy’ tag, while SMC Global and JM Financial have not rated the book build issue.

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