Durlax Top Surface IPO will open for subscription from 19 June 2024. The company aims to have an issue size of ₹40.80 Cr through this IPO.
Company Overview
| Full name | Durlax Top Surface Limited |
| Sector | Construction Materials |
| Industry | Ceramics/Marble/Granite/Sanitaryware |
| Company Website | https://www.durlax.com/ |
About Company
Durlax Top Surface specializes in crafting solid surface materials. These products are distributed throughout India via a vast network of distributors and direct customers. Additionally, they are exported to diverse locations including Dubai, Bahrain, Greece, and Nepal.
The company has two brands, LUXOR and ASPIRON. LUXOR offers acrylic UV solid sheets, while ASPIRON provides modified solid sheets. Both brands feature seamless designs with antibacterial and fire-retardant properties, ensuring a high-quality range of solid sheets. These products are ideal for residential, commercial, hospitality, healthcare, outdoor, and various other industries, offering stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and more.
The company achieved sales to distributors amounting to approximately INR 58.90 crore, accounting for 64.89% of its total sales for the financial year 2024. In this period, the company was working with 16 distributors. Durlax Top Surface employed a team of 69 individuals.
The Objectives of the Issue
- Part finance the working capital requirements;
- General corporate purposes; and
- To meet the offer expenses.
Durlax Top Surface IPO Timetable
| IPO Opening date | 19 June 2024 |
| IPO Closing | 21 June 2024 |
| Basis of Allotment | 24 June 2024 |
| Initiation Refund | 25 June 2024 |
| Credit to Demat Account | 25 June 2024 |
| Listing Date | 26 June 2024 |
Durlax Top Surface IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹40.80 Cr – 6,000,000 shares |
| Fresh Issue | ₹28.56 Cr – 4,200,000 shares |
| Offer for sale | ₹12.24 Cr – 1,800,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹65 to ₹68 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 300,000 shares |
| Shareholding pre-issue | 12,427,701 |
| Shareholding post-issue | 16,627,701 |
| Listing Exchange | NSE SME |
Durlax Top Surface IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |
Durlax Top Surface Offer Documents
Durlax Top Surface IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 592,000 (9.87%) |
| Market Maker Shares Offered | 300,000 (5.00%) |
| QIB Shares Offered | 2,252,000 (37.53%) |
| NII (HNI) Shares Offered | 856,000 (14.27%) |
| Retail Shares Offered | 2,000,000 (33.33%) |
| Total Shares Offered | 6,000,000 (100%) |
Durlax Top Surface Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 47.36 | 66.74 | 90.76 |
| Expenses | 46.64 | 64.69 | 85.63 |
| Net income | 0.48 | 2.09 | 5.05 |
Durlax Top Surface Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 0.41 | 1.75 | 4.06 |
| PE ratio | – | – | 16.01 – 16.75 |
| RONW (%) | 3.75 | 12.53 | 23.12 |
| NAV | 10.92 | 13.48 | 17.58 |
| ROCE (%) | 12.35 | 16.13 | 20.20 |
| EBITDA (%) | 13.71 | 11.69 | 11.83 |
| Debt/Equity | 3.04 | 2.21 | 2.78 |
Company Promoters
- Mr. Shravan Suthar
- Mr. Lalit Suthar
Promoter Holding
| Pre Issue Share Holding | 95.44% |
| Post Issue Share Holding | 60.35% |
Durlax Top Surface Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 25 June 2024 | 65 | – | 92,500 |
| 24 June 2024 | 60 | – | 88,000 |
| 22 June 2024 | 57 | – | 87,500 |
| 21 June 2024 | 50 | – | 75,000 |
| 20 June 2024 | 35 | – | 41,000 |
| 19 June 2024 | 25 | – | 30,000 |
| 18 June 2024 | 20 | – | 28,000 |
| 17 June 2024 | 16 | – | 21,500 |
Durlax Top Surface Offer Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 22,52,000 | 8,56,000 | 20,00,000 | 51,08,000 |
| 21 Jun 2024 | 48.29 | 414.58 | 184.83 | 163.14 |
| 20 Jun 2024 | 2.94 | 11.41 | 27.66 | 14.04 |
| 19 Jun 2024 | 2.28 | 5.13 | 10.27 | 5.88 |
Durlax Top Surface IPO Allotment Status
Durlax Top Surface IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Durlax Top Surface IPO Listing Details
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Durlax Top Surface IPO Listing Day Update
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Durlax Top Surface IPO Lead Manager(s)
EXPERT GLOBAL CONSULTANTS PRIVATE LIMITED
1511, RG Trade Tower Netaji Subhash Place,
Pitampura, New Delhi – 110 034
Phone: +91 011 4509 8234
Email: ipo@expertglobal.in
Website: www.expertglobal.in
Durlax Top Surface IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Durlax Top Surface Contact Details
DURLAX TOP SURFACE LIMITED
301, Jaisingh Commonspace, Dayal Das Road,
FP362, W.E. Highway, Vile Parle (East), Mumbai – 400057
Phone: +91-75067 99831
E-mail: cs@durlaxindia.com
Website: www.durlax.com
Durlax Top Surface IPO FAQs
What is the Durlax Top Surface offer size?
Durlax Top Surface’s offer size is ₹ 39.0 – 40.80 crores.
What is the Durlax Top Surface offer price band?
Durlax Top Surface’s public offer price is ₹ 65 – 68 per share.
What is the lot size of the Durlax Top Surface Offer?
Durlax Top Surface offer a lot size is 2,000 shares.
What is Durlax Top Surface Offer GMP today?
Durlax Top Surface IPO GMP today is ₹ 65 per share.
What is the Durlax Top Surface kostak rate today?
Durlax Top Surface kostak rate today is ₹ NA per application.
What is Durlax Top Surface Subject to the Sauda rate today?
Durlax Top Surface is Subject to the Sauda rate today is ₹ 92,500 per application.
Final thoughts
Durlax Top Surface IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
