Mumbai: Durlax Top Surface Limited has announced its upcoming initial public offering (IPO) with a price band fixed between ₹65 to ₹68 per share, each having a face value of ₹10. The IPO, targeted at Small and Medium Enterprises (SMEs), will open for subscription on Wednesday, June 19, 2024.
Key Dates for Durlax Top Surface IPO
Investors can subscribe to the Durlax Top Surface IPO from June 19 to June 21, 2024. The IPO allotment process is expected to be completed by Monday, June 24, 2024. The company plans to list its shares on NSE SME starting from Wednesday, June 26, 2024.
Details of Durlax Top Surface IPO
Retail investors are required to apply for a minimum of 2,000 shares, amounting to a minimum investment of ₹136,000 at the upper end of the price band. The IPO has allocated 35.00% of its shares for retail investors.
High-Net-Worth Individuals (HNIs) need to invest in at least two lots, equivalent to 4,000 shares, requiring a total investment of ₹272,000.
Objectives of Durlax Top Surface IPO
The total value of Durlax Top Surface IPO is ₹40.80 crores. It comprises an IPO of 42 lakh shares worth ₹28.56 crores and an offer-for-sale (OFS) of 18 lakh shares valued at ₹12.24 crores.
Funds raised from the IPO, excluding OFS, will be used for:
- Part financing of working capital needs
- General corporate purposes
- Meeting expenses related to the IPO
About Durlax Top Surface Ltd
Established in 2010 as Durlax Archtech Private Limited, the company operates in India, selling solid surface materials under two brands: ASPIRON and LUXOR. ASPIRON offers modified solid sheets, while LUXOR provides acrylic UV solid sheets.
Registrar, Lead Managers, and Market Makers
Expert Global Consultants Private Limited is the book running lead manager for the Durlax Top Surface IPO, with Bigshare Services Pvt Ltd serving as the registrar. Globalworth Securities acts as the market maker.
Durlax Top Surface IPO: Grey Market Premium (GMP)
Currently, the grey market premium for Durlax Top Surface IPO stands at Nil per share, indicating no additional premium being attributed by market participants to the IPO shares.
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