Dark
Light
Today: June 23, 2024
May 29, 2024

Kronox Lab Sciences IPO to Open June 3; Price Band Set at Rs 129-136 Per Share

Specialty chemical company Kronox Lab Sciences has announced that its initial public offering (IPO) will open for public subscription on June 3. The price band for the IPO has been set at Rs 129-136 per share. This three-day offering will close on June 5, with bids for anchor investors opening for a day on May 31, as outlined in the company’s Red Herring Prospectus (RHP).

The entire issue consists of an offer-for-sale (OFS) of 95.7 lakh equity shares by the company’s promoters: Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani. If the shares are sold at the upper end of the price band, the IPO is expected to raise approximately Rs 130.15 crore.

Kronox Lab Sciences, based in Vadodara, Gujarat, is a prominent manufacturer of specialty fine chemicals. Its products are utilized across a diverse range of industries, including pharmaceuticals (both formulations and active ingredients), biotech, scientific research, personal care, agrochemicals, animal health, and metallurgy.

The company operates three manufacturing facilities and a dedicated Research, Development, and Testing (RDT) laboratory, all located in Vadodara. Kronox is also expanding its production capacity with the acquisition of land in Dahej, Gujarat, where it plans to establish a new manufacturing plant. The company exports its products to over 20 countries, with significant markets in the United States, the United Kingdom, Mexico, Australia, and Egypt.

In terms of the IPO allocation, 50% of the issue size is reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. Prospective investors can bid for a minimum of 110 equity shares and in multiples of 110 shares thereafter.

Pantomath Capital Advisors is acting as the sole book-running lead manager for this IPO. Upon successful subscription and allotment, the equity shares of Kronox Lab Sciences will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Kronox Lab Sciences’ IPO comes at a time when the specialty chemicals sector is seeing robust demand due to its critical role in various high-growth industries. The company’s strong export portfolio and ongoing expansion efforts highlight its potential for future growth and its strategic importance in the global market. Investors looking to capitalize on the growth in specialty chemicals and related industries may find this IPO particularly attractive.

The opening of this IPO presents a significant opportunity for investors to participate in the growth story of a well-established company with a diverse product portfolio and a strong international presence.

Jhumpa Lahiri

Jhumpa Lahiri

At our news portal, we strive to be your go-to destination for staying informed about the latest developments, breaking news, and insightful analysis across a diverse range of topics. Whether you're interested in politics, technology, health, entertainment, or global affairs, we've got you covered with comprehensive coverage and in-depth reporting.

Previous Story

DiFACTO Secures Rs 40 Crore from Stakeboat Capital to Drive Robotic Automation in India

Next Story

Lauritz Knudsen to Invest Rs 850 Crore in India: A Strategic Move by Schneider Electric Group

Latest from Blog

Go toTop

Don't Miss

Walmart’s IPO Plans for Flipkart and PhonePe: A Look Ahead

Walmart is strategically planning the initial public offerings (IPOs) of

Stellantis Appoints Shailesh Hazela as CEO and Managing Director of India Operations

Automaker Stellantis announced on Saturday the appointment of Shailesh Hazela