Kronox Lab Sciences IPO: Launching June 3rd; Check Price Band, Issue Size

Key Points:

  • IPO Launch: Kronox Lab Sciences IPO is set to open on June 3rd.
  • Price Band: The floor price is 12.90 times the face value, while the cap price is 13.60 times the face value.
  • Issue Size: No fresh issue; only an offer-for-sale (OFS) of 95.7 lakh equity shares.
  • Allocation: 15% for non-institutional investors (NII), 35% for retail investors, and 50% for qualified institutional buyers (QIB).
  • Basis of Allotment: Tentatively finalized on June 6th, with refunds initiated on June 7th.
  • Listing Date: Shares expected to be listed on BSE and NSE on June 10th.

About Kronox Lab Sciences:

  • The company specializes in producing high-purity specialty fine chemicals for various industries.
  • Their products are used in pharmaceuticals, nutraceuticals, scientific research, agrochemicals, and more.
  • They offer over 185 products, serving customers in India and over 20 other countries worldwide.

Financial Highlights:

  • From March 2022 to March 2023, the company’s profit after tax (PAT) rose by 21.94%, with revenue increasing by 16.99%.

IPO Details:

  • The IPO comprises only an offer-for-sale (OFS) of 95.7 lakh equity shares by selling shareholders.
  • The promoters, Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani, are each offloading 31.9 lakh shares.
  • Book Running Lead Manager: Pantomath Capital Advisors Pvt Ltd; Registrar: Kfin Technologies Limited.

Grey Market Premium (GMP) Today:

  • The GMP for Kronox Lab Sciences IPO stands at +80, indicating a premium of ₹80 in the grey market.
  • Expected Listing Price: ₹216 apiece, 58.82% higher than the IPO price of ₹136.

‘Grey market premium’ reflects investors’ willingness to pay more than the issue price.

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