Kronox Lab Sciences IPO Price: ₹129 to ₹136
IPO Date Range: 3 June 2024 - 5 June 2024
Incorporated in 2008, Kronox Lab Sciences Limited is a leading manufacturer of high-purity specialty fine chemicals serving diverse industries.
The company’s extensive product portfolio includes over 185 chemicals, such as phosphates, sulphates, acetates, chlorides, citrates, nitrates, nitrites, carbonates, EDTA derivatives, hydroxides, succinates, and gluconates. These high-purity chemicals are essential for various applications, including manufacturing APIs, pharmaceutical formulations, scientific research, nutraceuticals, biotech applications, agrochemical formulations, personal care products, metal refineries, and animal health products.
Kronox Lab Sciences Limited has established a significant global presence, exporting its products to over 20 countries. Key export markets include the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, the United Kingdom, Belgium, the United Arab Emirates, and China. The company’s ability to cater to international clients underscores its commitment to quality and reliability, making it a trusted supplier of specialty fine chemicals worldwide.
The company operates three state-of-the-art manufacturing facilities located in Vadodara, Gujarat, covering a total area of 17,454 square meters with an installed capacity of 7,242 TPA as of December 31, 2023. Strategically situated near the seaports of Mundra, Kandla, Hazira, and Nhava Sheva, these facilities hold several prestigious certifications, including FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
Additionally, Unit I has products that are Kosher, Halal, GMP, and GLP certified. As of the end of 2023, Kronox Lab Sciences Limited is actively engaged in research and development of 122 new products, reinforcing its commitment to innovation and quality.
| IPO Date | June 3, 2024 to June 5, 2024 |
| Listing Date | Monday, June 10, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹129 to ₹136 per share |
| Lot Size | 110 Shares |
| Total Issue Size | 9,570,000 shares (aggregating up to ₹130.15 Cr) |
| Offer For Sale | 9,570,000 shares (aggregating up to ₹130.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 37,104,000 |
| Share holding post issue | 37,104,000 |
Bidders have the opportunity to bid for a minimum of 110 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,960 |
| Retail (Max) | 13 | 1,430 | ₹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 |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| IPO Open Date | Monday, June 3, 2024 |
| IPO Close Date | Wednesday, June 5, 2024 |
| Basis of Allotment | Thursday, June 6, 2024 |
| Initiation of Refunds | Friday, June 7, 2024 |
| Credit of Shares to Demat | Friday, June 7, 2024 |
| Listing Date | Monday, June 10, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 5, 2024 |
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Between the fiscal years ending March 31, 2022, and March 31, 2023, Kronox Lab Sciences Limited experienced a notable surge in revenue, marking a 16.99% increase. Additionally, the company's post-tax profit (PAT) saw a substantial rise of 21.94%.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 31 Dec 2023 |
|---|---|---|---|---|
| Assets | 37.65 | 56.79 | 54.03 | 66.96 |
| Revenue | 63.24 | 83.34 | 97.50 | 68.44 |
| Profit After Tax | 9.73 | 13.63 | 16.62 | 15.47 |
| Net Worth | 26.81 | 40.35 | 44.68 | 60.28 |
| Reserves & Surplus | 26.57 | 40.11 | 7.58 | 15.56 |
| Total Borrowing | 0.01 | 0.64 |
| KPI | Values |
|---|---|
| Market Cap | Rs 504.61 Cr. |
| ROCE | 33.15% |
| ROE | 25.66% |
| EPS | Rs 4.48 |
| P/E (x) | 30.37 |
| RoNW | 25.66% |
The objectives of this offer include:
Additionally, the company anticipates that the proposed listing will bolster visibility and brand image, offer liquidity to current shareholders, and establish a public market for equity shares in India.
Prospectus: Official documents that provide detailed information about the IPO and the company. Kronox Lab Sciences IPO DRHP and Kronox Lab Sciences IPO RHP
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Kronox Lab Sciences Limited" IPO is ₹129 to ₹136 per share.
The "Kronox Lab Sciences Limited" IPO is expected to be listed on Monday, 10 June 2024.
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