Durlax Top Surface IPO booked nearly 14 times on day 2: Check subscription status, price band and other key details

Durlax Top Surface Ltd IPO continued to see a strong demand on the second day of bidding on Thursday, June 20, as the public issue was booked nearly 14 times. The solid surface manufacturer’s initial public offering (IPO) was fully subscribed within hours of launch on Wednesday.

The public issue received bids for nearly 7.17 crore shares compared to 51.08 lakh shares on offer for public investors, reflecting as overall subscription of 13.94 times.

The NSE SME IPO saw highest demand from the retail investors. The retail category received bids for more than 5.53 crore shares compared to the 20 lakh shares reserved for the category, leading to a subscription of over 27.65 times. The issue received bids for 97.7 lakh shares from Non-Institutional Investors (NIIs) against 8.56 lakh shares set aside for them. The issue was subscribed 11.41 times in the NIIs’ category.

The issue received 66.1 lakh bids from the Qualified Institutional Buyers (QIBs) against 22.52 lakh shares reserved for the category, leading to a subscription of 2.93 times.

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Durlax Top Surface Limited IPO offer size

Durlax Top Surface Ltd IPO is a book-building issue worth ₹40.8 crore. The IPO consists of a fresh issue of 42 lakh shares which amount to ₹28.56 crore and an Offer-For-Sale (OFS) portion of 18 lakh shares worth ₹12.24 crore.

Durlax Top Surface Limited IPO price band and lot size

The Durlax Top Surface IPO price band has been fixed at ₹65 to ₹68 per share. Retail investors can place bids for a minimum lot size of 2,000 shares, aggregating to ₹1,36,000. High Net-worth Individuals (HNIs) can place bids for a minimum of 2 lots, amounting to a minimum investment of ₹2,72,000.

Durlax Top Surface Limited IPO listing date

The subscription window for Durlax Top Surface Ltd IPO is open from June 19 to June 21. The allotment status of the public issue is likely to be finalised on June 24. Refunds will be initiated for unsuccessful bidders and transfer of shares to the Demat accounts of successful bidders will be made on Tuesday, June 25. Durlax Top Surface’s shares are likely to get listed on the NSE SME platform on June 26.

Durlax Top Surface Limited IPO objective

Durlax Top Surface Limited will use the money raised via the public issue for partial financing of working capital requirements, meeting general corporate purposes and to meet the offer expenses.

About Durlax Top Surface Limited

Durlax Top Surface Limited, established in 2010, was formerly known as Durlax Archtech Private Limited. The company is a manufacturer of solid surface materials sold across India. The manufacturing facility of the company is located in Vapi, Gujarat.

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