Kronox Lab Sciences IPO will open for subscription from 03 June 2024. The company aims for an issue size of ₹130.15 Cr through this IPO.
Company Overview
| Full name | Kronox Lab Sciences Limited |
| Sector | Chemicals |
| Industry | Chemicals |
| Company Website | https://www.kronoxlabsciences.com/ |
About Company
Kronox Lab Sciences manufactures High Purity Speciality Fine Chemicals for a variety of industries. These chemicals are used as reactants in APIs, excipients in pharmaceuticals, reagents in research, ingredients in nutraceuticals, biotech, agrochemicals, personal care, and animal health products, as well as refining agents in metal refineries. The company produces High Purity Speciality Fine Chemicals in a range of grades with particle sizes varying from 10 mesh to 100 mesh.
The company offers a variety of over 185 products, including phosphates, sulfates, acetates, chlorides, citrates, nitrates, nitrites, carbonates, EDTA derivatives, hydroxides, succinates, and gluconates. These products are supplied to customers in India and more than 20 countries including the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, United Kingdom, Belgium, United Arab Emirates, and China, among others.
Kronox Lab Sciences operates three manufacturing facilities in Vadodara, Gujarat, which are near the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. As of 31 December 2023, these facilities have a combined installed capacity of 7,242 tonnes per annum. On the same date, the company employed 57 staff members (excluding trainees) and engaged 155 contract workers.
The Objectives of the Issue
- 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 IPO Timetable
| IPO Opening date | 03 June 2024 |
| IPO Closing | 05 June 2024 |
| Basis of Allotment | 06 June 2024 |
| Initiation Refund | 07 June 2024 |
| Credit to Demat Account | 07 June 2024 |
| Listing Date | 10 June 2024 |
Kronox Lab Sciences IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹130.15 Cr – 9,570,000 shares |
| Fresh Issue | Nil |
| Offer for sale | ₹130.15 Cr – 9,570,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹129 to ₹136 per share |
| Lot size | 110 Shares |
| Shareholding pre-issue | 37,104,000 |
| Shareholding post-issue | 37,104,000 |
| Listing Exchange | BSE & NSE |
Kronox Lab Sciences IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,960 |
| Retail (Max) | 13 | 1430 | ₹194,480 |
| S-HNI (Min) | 14 | 1,540 | ₹209,440 |
| S-HNI (Max) | 66 | 7,260 | ₹987,360 |
| B-HNI (Min) | 67 | 7,370 | ₹1,002,320 |
Kronox Lab Sciences Offer Documents
Kronox Lab Sciences IPO Reservation Details
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 2,871,000 (30.00%) | NA |
| QIB Shares Offered | 1,914,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,435,500 (15.00%) | |
| bNII > ₹10L | 957,000 (10.00%) | 621 |
| sNII < ₹10L | 478,500 (5.00%) | 310 |
| Retail Shares Offered | 3,349,500 (35.00%) | 30,450 |
| Total Shares Offered | 9,570,000 (100%) |
Kronox Lab Sciences Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 62.46 | 82.25 | 95.58 | 67.69 |
| Expenses | 50.02 | 64.99 | 75.17 | 48.23 |
| Net income | 9.73 | 13.63 | 16.62 | 15.47 |
| Margin (%) | 15.58 | 16.57 | 17.39 | 22.85 |
Kronox Lab Sciences Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 2.62 | 3.67 | 4.48 | 5.56 |
| PE Ratio | – | – | 28.8 – 30.36 | 23.2 – 24.46 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 36.29 | 33.77 | 37.19 |
| NAV | 7.23 | 10.88 | 12.04 |
| ROCE (%) | 51.78 | 46.27 | 49.86 |
| EBITDA (%) | 23.70 | 23.95 | 23.01 |
| Debt/Equity | Nil | 0.02 | – |
Company Promoters
- Jogindersingh Jaswal
- Ketan Ramani
- Pritesh Ramani.
Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 74.21% |
Kronox Lab Sciences IPO GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 8 June 2024 | 38 | – | 3,100 |
| 7 June 2024 | 40 | – | 3,500 |
| 6 June 2024 | 40 | – | 3,500 |
| 5 June 2024 | 40 | – | 3,500 |
| 4 June 2024 | 80 | – | 7,000 |
| 3 June 2024 | 80 | – | 7,000 |
| 31 May 2024 | 70 | – | 6,500 |
| 30 May 2024 | 80 | – | 7,000 |
Kronox Lab Sciences IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 19,14,000 | 14,35,500 | 33,49,500 | 66,99,000 |
| 5 Jun 2024 | 89.03 | 301.92 | 54.23 | 117.25 |
| 4 Jun 2024 | 3.39 | 52.94 | 24.55 | 24.59 |
| 3 Jun 2024 | 1.11 | 19.97 | 13.00 | 11.10 |
Kronox Lab Sciences IPO Allotment Status
Kronox Lab IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Kronox Lab Sciences IPO Listing Details
| Listing Date | 10 June 2024 |
| BSE Scrip Code | 544187 |
| NSE Symbol | KRONOX |
| ISIN | INE0ATZ01017 |
| Final Issue Price | ₹136 per share |
Kronox Lab Sciences IPO Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹136.00 | ₹136.00 |
| Open | ₹151.40 | ₹151.35 |
| Low | ₹151.40 | ₹151.35 |
| High | ₹156.20 | ₹158.20 |
| Last Trade | ₹151.40 | ₹151.35 |
Kronox Lab Sciences Lead Manager(s)
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Pantomath Nucleus House, Saki-Vihar Road,
Andheri (East)-400072, Mumbai, Maharashtra, India
Phone: 1800 889 8711
Email: kronox.ipo@pantomathgroup.com
Website: www.pantomathgroup.com
Kronox Lab Sciences Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: klsl.ipo@kfintech.com
Website: www.kfintech.com
Kronox Lab Sciences Contact Details
KRONOX LAB SCIENCES LIMITED
Block No.284, Village Ekalbara,
Padra, Vadodara 391 440, Gujarat
Phone: +91 26 6224 4077/88
Email: cs@kronoxlabsciences.com
Website: www.kronoxlabsciences.com
Kronox Lab Sciences IPO FAQs
How many shares in Kronox Lab IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for a Kronox Lab Public Offer?
The best way to apply for Kronox Lab’s public offer is through Internet banking ASBA . You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Kronox Lab IPO GMP today?
Kronox Lab IPO GMP today is ₹ 38 per share.
What is Kronox Lab’s kostak rate today?
Kronox Lab kostak rate today is ₹ NA per application.
What is Kronox Lab Subject to Sauda rate today?
Kronox Lab Subject to Sauda rate today is ₹ 3,100 per application.
Final thoughts
Kronox Lab Sciences 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
