Kronox Lab Sciences IPO booked over 78 times on day 3: Check subscription status, price band and listing date

Kronox Lab Sciences IPO continued to see strong demand on the third and final day of bidding on Thursday, June 5. The initial public offer has been book 78 times so far on the last day of subscription, as per the NSE data.

The mainboard public issue received bids for over 52.40 crore shares against 66.99 lakh shares on offer, the NSE data till 2:45 pm showed.

The non-institutional investors (NIIs) segment saw the higher demand with the segment receiving bids for more than 31.57 crore shares against over 14.35 lakh shares on offer for the segment. The NIIs’ portion was booked 220 times.

Retail investors placed bids for more than 14.8 crore shares compared to the 33.49 lakh shares reserved for the segment leading to an overall subscription of 44.19 times.

In the qualified institutional buyers’ (QIBs) category the public issue received applications for 6.02 crore shares against 19.14 lakh shares on offer. The QIBs’ category was booked 31.48 times.

Kronox Lab Sciences IPO is a book-building issue worth ₹130.15 crore, consisting entirely of an offer for sale (OFS) of 96 lakh shares.

Kronox Lab Sciences IPO price band and lot size

The price band for Kronox Lab Sciences is fixed at ₹129 to ₹136 per share. The minimum lot size for subscription. Retail investors can bid for one lot of 110 shares, amounting to a minimum investment of ₹14,960.

The book-running lead manager for the issue is Pantomath Capital Advisors Pvt Ltd and Kfin Technologies Limited is the registrar for the issue.

Pre-issue the promoters of the company Joginder Singh Jaswal, Ketan Ramani and Pritesh Ramani hold 99.98% of the company’s shares, post issue their shareholding will reduce to 74.21%.

Kronox Lab Sciences IPO dates

The subscription window for the Kronox Lab Sciences IPO opened on Monday, June 3 and closes today on Wednesday, June 5. The IPO share allotment status is expected to be finalised on Thursday, June 6, the refunds and the credit of shares to Demat accounts will take place on June 5. Shares of Kronox Lab Sciences are likely to list on the NSE and BSE on Monday, June 10.

Kronox Lab Sciences IPO objectives

Kronox Lab Sciences aims to achieve the benefits of listing its equity Shares on the Stock Exchanges additionally the company anticipates that the listing of the shares will improve the company’s visibility and brand image.

About Kronox Lab Sciences

Kronox Lab Sciences is a Gujarat based manufacturer of high-purity speciality fine chemicals.

The company has three manufacturing facilities in Vadodara, Gujarat. The company offers a diverse range of 185 products which are exported to the United States, Argentina, Mexico, among other countries.