Kronox Lab Sciences IPO Details - IPO Date, Price, GMP, Analysis & Review (2024)

June 3, 2024 - June 5, 2024

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Kronox Lab Sciences IPO Details - IPO Date, Price, GMP, Analysis & Review (5)

Kronox Lab Sciences IPO is a book built issue of Rs 130.15 crores. The issue is entirely an offer for sale of 0.96 crore shares.

Kronox Lab Sciences IPO bidding started from June 3, 2024 and ended on June 5, 2024. The allotment for Kronox Lab Sciences IPO was finalized on Thursday, June 6, 2024. The shares got listed on BSE, NSE on June 10, 2024.

Kronox Lab Sciences IPO price band is set 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 ₹209,440, and for bNII, it is 67 lots (7,370 shares), amounting to ₹1,002,320.

Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Kronox Lab Sciences IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Kronox Lab Sciences IPO RHP for detailed information.

Kronox Lab Sciences IPO Details

IPO DateJune 3, 2024 to June 5, 2024
Listing DateJune 10, 2024
Face Value₹10 per share
Price Band₹129 to ₹136 per share
Lot Size110 Shares
Total Issue Size9,570,000 shares
(aggregating up to ₹130.15 Cr)
Offer for Sale9,570,000 shares of ₹10
(aggregating up to ₹130.15 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue37,104,000
Share holding post issue37,104,000

Kronox Lab Sciences IPO Reservation

Kronox Lab Sciences IPO offers 9,570,000 shares. 1,914,000 (20.00%) to QIB, 1,435,500 (15.00%) to NII, 3,349,500 (35.00%) to RII and 2,871,000 (30.00%) to Anchor investors. 30,450 RIIs will receive minimum 110 shares and 310 (sNII) and 621 (bNII) will receive minimum 1,540 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered2,871,000 (30.00%)NA
QIB Shares Offered1,914,000 (20.00%)NA
NII (HNI) Shares Offered1,435,500 (15.00%)
bNII > ₹10L957,000 (10.00%)621
sNII < ₹10L478,500 (5.00%)310
Retail Shares Offered3,349,500 (35.00%)30,450
Total Shares Offered9,570,000 (100%)

Kronox Lab Sciences IPO Anchor Investors Details

Kronox Lab Sciences IPO raises Rs 39.05 crore from anchor investors. Kronox Lab Sciences IPOAnchor bid date is May 31, 2024.Kronox Lab Sciences IPOAnchor Investors list

Bid DateMay 31, 2024
Shares Offered2,871,000
Anchor Portion Size (In Cr.)39.05
Anchor lock-in period end date for 50% shares (30 Days)July 6, 2024
Anchor lock-in period end date for remaining shares (90 Days)September 4, 2024

Kronox Lab Sciences IPO Timeline (Tentative Schedule)

Kronox Lab Sciences IPO opens on June 3, 2024, and closes on June 5, 2024.

IPO Open DateMonday, June 3, 2024
IPO Close DateWednesday, June 5, 2024
Basis of AllotmentThursday, June 6, 2024
Initiation of RefundsFriday, June 7, 2024
Credit of Shares to DematFriday, June 7, 2024
Listing DateMonday, June 10, 2024
Cut-off time for UPI mandate confirmation5 PM on June 5, 2024

Kronox Lab Sciences IPO Lot Size

Investors can bid for a minimum of 110 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.

ApplicationLotsSharesAmount
Retail (Min)1110₹14,960
Retail (Max)131430₹194,480
S-HNI (Min)141,540₹209,440
S-HNI (Max)667,260₹987,360
B-HNI (Min)677,370₹1,002,320
Lot Size Calculator

Kronox Lab Sciences IPO Promoter Holding

The Promoters of the Company are Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani.

Share Holding Pre Issue99.98%
Share Holding Post Issue74.21%

About Kronox Lab Sciences Limited

Incorporated in 2008, Kronox Lab Sciences Limited is a manufacturer of high-purity speciality 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 United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, United Kingdom, Belgium, United Arab Emirates, China, among others.

The company has three manufacturing facilities in Vadodara, Gujarat, close to the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. The facilities cover 17,454 sq. m. and have an installed capacity of 7,242 TPA as of December 31, 2023. Unit I/II holds FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. Additionally, some products manufactured at Unit I have obtained Kosher, Halal, GMP, and GLP certifications.

As of December 31, 2023, the company is conducting research and development on 122 products.

The company has served over 592 customers in the past three years. By December 31, 2023, 141 customers of the total, placed repeat orders.

As of December 31, 2023, the company employees 212 people at various levels.

Kronox Lab Sciences Limited Financial Information (Restated)

Kronox Lab Sciences Limited's revenue increased by 16.99% and profit after tax (PAT) rose by 21.94% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets66.9654.0356.7937.65
Revenue68.4497.5083.3463.24
Profit After Tax15.4716.6213.639.73
Net Worth60.2844.6840.3526.81
Reserves and Surplus15.567.5840.1126.57
Total Borrowing0.640.01
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Kronox Lab Sciences IPO is Rs 504.61 Cr.

KPI as of December 31, 2023.

KPIValues
ROE25.66%
ROCE33.15%
RoNW25.66%
P/BV8.37
PAT Margin (%)22.6

Check Kronox Lab Sciences IPO Peer Comparison here.

Pre IPOPost IPO
EPS (Rs) 4.485.56
P/E (x) 30.3724.47

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latestFY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FYearnings of December 31, 2023 that is available in RHP.

Objects of the Issue (Kronox Lab Sciences IPO Objectives)

The Objects of the Offer are to:

  1. Carry out the Offer for Sale of up to 95,70,000 Equity Shares by the Promoter Selling Shareholders; and
  2. Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of the Equity Shares will enhance the visibility and brand image, provide liquidity to its existing Shareholders, and provide a public market for Equity Shares in India.

Kronox Lab Sciences IPO Review (Apply)

[Dilip Davda] The company is in high-purity speciality chemical segment and enjoys virtual monopoly in certain products. Its product portfolio currently has 185 products and another 122 is in the pipeline. Based on FY24 annualized earnings, the issue appears fully priced. Investors may park funds for the medium to long term rewards. Read detail review...

Kronox Lab Sciences IPO Subscription Status (Bidding Detail)

The Kronox Lab Sciences IPO is subscribed 117.25 times on June 5, 2024 6:19:05 PM. The public issue subscribed 54.24 times in the retail category, 89.03 times in the QIB category, and 301.92 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB89.03
NII301.92
bNII (bids above ₹10L)322.26
sNII (bids below ₹10L)261.22
Retail54.24
Total117.25

Total Application : 1,528,029 (50.18 times)

Kronox Lab Sciences IPO Prospectus

Kronox Lab Sciences IPO Rating

5

3.2

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Kronox Lab Sciences IPO Listing Details

Listing DateJune 10, 2024
BSE Script Code544187
NSE SymbolKRONOX
ISININE0ATZ01017
Final Issue Price₹136 per share

Pre-Open Session - NSEPre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹136.00
₹151.40
₹151.40
₹156.20
₹151.40
NSE
₹136.00
₹151.35
₹151.35
₹158.20
₹151.35

Check IPO Performance…

Kronox Lab Sciences Limited Contact Details

Kronox Lab Sciences Limited
Block No. 353,
Village Ekalbara, Padra,
Vadodara-391440
Phone: +91 26 6224 4077/88
Email: cs@kronoxlabsciences.com
Website: https://www.kronoxlabsciences.com/

Kronox Lab Sciences IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: klsl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

Kronox Lab Sciences IPO - Buy or Not

Kronox Lab Sciences IPO Recommendation Summary

Review BySubscribeNeutralAvoid
Brokers410
Members300

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Kronox Lab Sciences IPO Lead Manager(s)

  1. Pantomath Capital Advisors Pvt Ltd (Past IPO Performance)

Lead Manager Reports

  • IPO Lead Manager Performance Summary
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Kronox Lab Sciences IPO FAQs

Kronox Lab Sciences IPO is a main-board IPO of 9,570,000 equity shares of the face value of ₹10 aggregating up to ₹130.15 Crores. The issue is priced at ₹129 to ₹136 per share. The minimum order quantity is 110 Shares.

The IPO opens on June 3, 2024, and closes on June 5, 2024.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Kronox Lab Sciences IPO using UPI as a payment gateway. Zerodha customers can apply in Kronox Lab Sciences IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Kronox Lab Sciences IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Kronox Lab Sciences IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Kronox Lab Sciences IPO opens on June 3, 2024 and closes on June 5, 2024.

Kronox Lab Sciences IPO lot size is 110 Shares, and the minimum amount required is ₹14,960.

You can apply in Kronox Lab Sciences IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Kronox Lab Sciences IPO will be done on Thursday, June 6, 2024, and the allotted shares will be credited to your demat account by Friday, June 7, 2024. Check the Kronox Lab Sciences IPO allotment status.

The Kronox Lab Sciences IPO listing date is on June 10, 2024.

Kronox Lab Sciences IPO Details - IPO Date, Price, GMP, Analysis & Review (7)

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  • Kronox Lab Sciences IPO FAQs

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Kronox Lab Sciences IPO Details - IPO Date, Price, GMP, Analysis & Review (2024)

FAQs

Kronox Lab Sciences IPO Details - IPO Date, Price, GMP, Analysis & Review? ›

The Kronox Lab Sciences IPO will be open for subscription from June 3 to June 5, 2024. Share allotment is expected on June 6, with a tentative listing

listing
In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, subject to conditions.
https://en.wikipedia.org › wiki › Listing_(finance)
date on the BSE and NSE set for June 10, 2024. As of June, 2024, the Kronox Lab Sciences IPO GMP is hovering around ₹80-₹82.

How true is GMP for IPO? ›

It is a useful indicator of the listing gains an investor might make. If the GMP is high, it could mean that the share price may list at a higher price on the stock exchange. A high GMP could indicate high demand for the IPO and vice versa. However, the GMP is not always accurate, and it can be volatile.

How much should IPO GMP be? ›

The IPO GMP price can be positive or negative. If the GMP value is positive or very high, this indicates that the IPO may perform better on listing or bumper listing. Example: If the IPO issue price is Rs 500 and the GMP is Rs 150, the listing is likely to be at Rs 650 (30% gain).

How do you read IPO GMP? ›

What is GMP? Grey market premium or GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges. For instance, LIC fixes its IPO price at Rs 90 per share and its IPO GMP is 50, then the organisation will get listed at Rs 140.90.

Why is GMP important in IPO? ›

The GMP is what determines the degree of interest in an IPO among investors. However, there cannot be any guarantee that the Grey Market Premium will accurately predict the listing price. However, it is one of the tools to verify before investing in an IPO.

What GMP is good? ›

GMP defines quality measures for both production and quality control and defines general measures to ensure that processes necessary for production and testing are clearly defined, validated, reviewed, and documented, and that the personnel, premises and materials are suitable for the production of pharmaceuticals and ...

Is GMP certification enough? ›

GMP certification is crucial, and now you know why. It positions you as an industry leader and helps you meet consumer needs, abide by FDA regulations, and beat out the competition. Not to mention, GMP certification helps your business improve its manufacturing processes' safety and efficiency.

How to check if an IPO is good or bad? ›

Public demand is a great way to gauge an IPO. If the demand for a public issue is high, it will most likely be oversubscribed. On the other hand, if the demand is low, the issue will mostly be undersubscribed. Investing in undersubscribed issues is not ideal at all since there has not been much of public interest.

Which is the best IPO to buy today? ›

  • Vraj Iron and Steel Limited. Subscribed Times. 118.31x. Price Range. ₹ 195 - ₹ 207. ...
  • Allied Blenders and Distillers Limited. Subscribed Times. 21.82x. Price Range. ₹ 267 - ₹ 281. ...
  • Stanley Lifestyles Limited. Subscribed Times. 95.10x. Price Range. ...
  • SME IPO - Dindigul Farm Product Limited. Subscribed Times. 180.58x. Price Range.

What is grey market in IPO? ›

Grey Market IPO is an unofficial market where individuals buy/sell IPO shares or applications before they are officially launched for trading on the stock exchange. As it is an unofficial over-the-counter market, there are no regulations around it. All transactions are done in cash on a personal basis.

What is the cut-off price in IPO? ›

The "cut-off price" in an IPO is the price determined based on evaluation of the company's financials, market conditions, and demand for its shares. It is the price at which investors can place bids for shares during the IPO subscription period.

Can we sell IPO on listing day? ›

On the day the company is listed on the stock market, you can only start trading after 10:00 a.m., and the session lasts until 3:30 p.m. You can sell your IPO shares on the listing day and enjoy significant profits, but you will have to trade between this five-and-a-half-hour period.

How to increase chances of IPO allotment? ›

How To Get Allotment In IPO
  1. 18 January, 2024. ...
  2. Methods to increase chances of IPO allotment. ...
  3. If you're wondering how to get an IPO allotted successfully, follow these strategies: ...
  4. Make multiple submissions using different Demat Accounts. ...
  5. Opt for a cut-off price or higher price band bidding. ...
  6. Timely IPO subscription matters.
Jan 18, 2024

How reliable is grey market Premium? ›

Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account and start trading today. The grey market premium is not always reliable, but if tracked correctly, can give an indication of the listing.

What are the issues with GMP? ›

GMP regulations address issues including record keeping, personnel qualifications, sanitation, cleanliness, equipment verification, process validation, and complaint handling.

Are GMP products safe? ›

Yes, the FDA regulates GMP in the United States. The FDA enforces GMP requirements by inspecting manufacturing facilities to ensure that they adhere to the set guidelines and are compliant with safety practices.

Who approves GMP? ›

The Food and Drug Administration (FDA) regulates the quality of pharmaceuticals very carefully. The main regulatory standard for ensuring pharmaceutical quality is the Current Good Manufacturing Practice (CGMP) regulations for human pharmaceuticals.

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