Durlax Top Surface IPO Opens This Week: Here’s What the ₹15 GMP Means for You

Durlax Top Surface Limited, a company specialising in solid surface materials, is launching its Initial Public Offering (IPO) on Wednesday, 19th June 2024. The IPO will be open for bidding until Friday, 21st June 2024. The price range for the shares has been set between ₹65 and ₹68 each. This IPO includes a mix of new shares and an Offer for Sale (OFS). The shares will be listed on the NSE SME Emerge platform. Meanwhile, Durlax Top Surface shares are available on the grey market at a premium of ₹15, as per market observers.

Here’s a straightforward look at the top 10 details about the Durlax Top Surface IPO:

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1. Grey Market Premium (GMP)

• Current GMP: Durlax Top Surface shares are trading at a ₹15 premium in the grey market today, according to stock market experts.

2. IPO Dates

• Opening Date: The IPO opens on 19th June 2024.
• Closing Date: The IPO closes on 21st June 2024.

3. IPO Price

• Price Range: The shares are priced between ₹65 and ₹68 each.

4. IPO Size

• Total Fundraising: The company aims to raise ₹28.56 crore through new shares and ₹12.24 crore through the OFS, making the total IPO size ₹40.80 crore.

5. Lot Size

• Application Size: Investors can apply in lots of 2000 shares.

6. Allotment Date

• Expected Allotment: The allocation of shares is expected to be finalised by Saturday, 22nd June 2024, or possibly by Monday, 24th June 2024.

7. Registrar

• Official Registrar: Bigshare Private Ltd is handling the share allocation and refund process for the IPO.

8. Minimum Investment

• Investment Requirement: Given the lot size and share price, the minimum investment needed is ₹1,36,000 (₹68 x 2000 shares).

9. Listing Platform

• Stock Exchange: The shares will be listed on the NSE SME Emerge platform.

10. Listing Date

• Expected Listing: The shares are expected to start trading on Wednesday, 26th June 2024, following the ‘T+3’ listing rule.

Management’s Perspective

Shravan Suthar, Chairman and Managing Director of Durlax Top Surface Limited, said, “Launching our IPO is a significant step for Durlax. The funds will help expand our operations and meet the growing demand for our premium solid surface materials. We plan to use the money for working capital and strategic growth. Our factory in Vapi, with advanced technology from Germany and South Korea, shows our commitment to quality and innovation. Our brands, LUXOR and ASPIRON, provide durable and stylish solutions in various markets.”

Gaurav Jain, Founder & Director of Expert Global Consultants Private Limited, added, “The Indian solid surfaces market, especially in countertops, is set for major growth as consumers prefer higher-quality materials. This growth is supported by rising incomes and expanding e-commerce. The IPO funds aimed at boosting operational abilities and market reach will help Durlax Top Surface take advantage of these positive trends, ensuring continued growth and a competitive edge.”

The Durlax Top Surface IPO is a key opportunity for investors interested in the solid surface materials sector, with promising growth potential driven by increasing consumer demand for quality home decor products.