Kronox Lab Sciences IPO fully subscribed on first day: Check price band, lot size and other key details

Kronox Lab Sciences Ltd IPO: The public issue of Kronox Lab Sciences Ltd has been fully subscribed within hours of launch on Monday, June 3. Retail investors are driving demand for Kronox Lab Sciences Ltd’s shares.

The initial public offering (IPO) of the speciality chemicals maker was subscribed 6.05 times until 2:00 pm on the first day of bidding, according to NSE data. The issue received bids for more than 4 crore shares against the 66.99 lakh shares on offer for public investors.

Retail investors applied for more than 2.7 crore shares compared to 33.49 lakh shares reserved for the category, which translates to an overall subscription of 8.31 times. Non-institutional investors (NIIs) placed bids for more than 1.23 crore shares compared to 14.35 lakh shares set aside for the category, leading to an overall subscription of 8.64 times. The Qualified Institutional Buyers’ (QIBs) category saw muted demand as it was booked 60% with bids for 11.5 lakh shares compared to 19.14 lakh shares reserved for the segment.

Kronox Lab Sciences Ltd IPO price band, lot size and other details

Kronox Lab Sciences Ltd IPO is a mainboard issue worth ₹130.15 crore. Kronox Lab Sciences Ltd IPO is a book-built issue comprising only an offer-for-sale (OFS) of 96 lakh shares.

The price band for the public issue has been set at ₹129 to ₹136 per share. Retail investors can bid for a minimum lot size of 110 shares, which amount 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.

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Kronox Lab Sciences Ltd IPO dates

The Kronox Lab Sciences Ltd IPO opened for subscription on Monday, June 3 and will close on Wednesday, June 5. The allotment of shares of the specialty chemicals maker will be finalised by Thursday, June 6. The refunds will be initiated on Friday, June 7 and shares will be credited to the Demat accounts of successful bidders the same day.

Shares of Kronox Lab Sciences Ltd are likely to debut on the NSE and BSE on Monday, June 10.

Kronox Lab Sciences Financial snapshot

Kronox Lab Sciences Ltd IPO objective

Kronox Lab Sciences aims to carry out its offer for sale of 95.7 lakh shares and also benefit from listing on the NSE and BSE. The company expects that the listing of shares on the exchanges is likely to enhance its visibility and brand image.

About Kronox Lab Sciences Ltd Limited

Kronox Lab Sciences is a manufacturer of speciality fine chemicals. The company’s product portfolio comprises 185 products and the company sells its products in India and more than 20 countries. The company has three manufacturing facilities in Vadodara, Gujarat. The speciality chemicals firm employed 212 workers at various levels, as of December 31, 2023.

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