Kronox Lab Sciences Limited IPO Detail
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.
Company Promoters
Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani.IPO Details
| IPO Opening Date | Jun 03, 2024 |
| IPO Closing Date | Jun 05, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹129 - 136 per equity share |
| Market Lot | 110 Shares |
| Min Order Quantity | 110 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹130.15 Cr |
| Fresh Issue | - |
| Offer for Sale | ₹130.15 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.11x | 28.47x | 15.93x | 20.11x | 13.35x | 11.30x |
| Day 2 | 3.39x | 68.93x | 45.18x | 53.10x | 24.89x | 24.80x |
| Day 3 | 89.03x | 261.22x | 322.26x | 301.92x | 54.24x | 117.25x |
IPO Tentative Timetable
The Kronox Lab Sciences Limited IPO open date is Jun 03, 2024, and the close date is Jun 05, 2024. The issue may list on Jun 10, 2024.
| IPO Open Date | Jun 03, 2024 |
| IPO Close Date | Jun 05, 2024 |
| Basis of Allotment Date | Jun 06, 2024 |
| Initiation of Refunds | Jun 07, 2024 |
| Credit of Shares to Demat Account | Jun 07, 2024 |
| IPO Listing Date | Jun 10, 2024 |
IPO Lot Size
The Kronox Lab Sciences Limited IPO market lot size is 110 shares. A retail-individual investor can apply for up to 13 lots (1430 shares or ₹194480).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 110 | ₹14960 |
| Maximum | 13 | 1430 | ₹194480 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 37.65 | 63.24 | 9.73 |
| 31-Mar-22 | 56.79 | 83.34 | 13.63 |
| 31-Mar-23 | 54.03 | 97.50 | 16.62 |
| 31-Dec-23 | 66.96 | 68.44 | 15.47 |
Objects of the Issue:
The Objects of the Offer are to:
- Carry out the Offer for Sale of up to 95,70,000 Equity Shares by the Promoter Selling Shareholders; and
- 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 Limited IPO Registrar:
KFin Technologies Limited
Kronox Lab Sciences Limited IPO Lead Manager(s):
Pantomath Capital Advisors Pvt Ltd
Company Contact Information:
Kronox Lab Sciences Limited
Block No. 353,
Village Ekalbara, Padra,
Vadodara-391440
