Kronox Lab Sciences IPO Subscribed 11.15x on Day 1

The Kronox Lab Sciences IPO opened for subscription on June 3, 2024, and will close on June 5, 2024. It is a book-built issue of ₹130.15 crores, entirely an offer for sale of 0.96 crore shares.

Kronox Lab Sciences has set the price band for the IPO at ₹129 to ₹136 per share. The minimum lot size for an application is 110 Shares. The minimum amount of investment required by retail investors is ₹14,960. The minimum lot size investment for sNII is 14 lots (1,540 shares), amounting to ₹2,09,440, and for bNII, it is 67 lots (7,370 shares), amounting to ₹10,02,320.

Day Wise Subscription

On the 1st day of subscription, i.e., June 03, 2024, the IPO was subscribed 11.15x. QIBs subscribed 1.11x, NIIs 20x, and retail investors subscribed 13.09x.

Grey Market Premium

Kronox Lab Sciences IPO’s last GMP is ₹76. With a price band of ₹136.00, Kronox Lab Sciences IPO’s estimated listing price is ₹212 (cap price + today’s GMP). The expected percentage gain/loss per share is 55.88%.

About Kronox Lab Sciences Limited

Incorporated in 2008, Kronox Lab Sciences Limited manufactures high-purity specialty fine chemicals for diverse end-user industries. The company’s High-Purity Specialty Fine Chemicals are used in various applications, such as manufacturing APIs, pharmaceutical formulations, scientific research, nutraceuticals, biotech applications, agrochemical formulations, personal care products, metal refineries, and animal health products.

The company offers a wide range of over 185 products, including phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, and others. These products are supplied to customers in India and more than 20 countries worldwide. The company exports its products to countries such as the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, the United Kingdom, Belgium, the United Arab Emirates, and China.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.