Kronox Lab Sciences IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 11, 2024Let’s have a detailed review of the company and analytics of the Kronox Lab Sciences IPO release date, IPO offer price, subscription, Kronox Lab Sciences Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 129 to Rs 136 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 110 Shares |
| Listing Date | June 10, 2024 |
| Offer for Sale | Rs 130.15 Crore |
| Fresh Issue | Rs Crore |
| IPO Size | Rs 130.15 Crore |
| Tick Size | 1 |
Kronox Lab Sciences IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Kronox Lab Sciences Share Price |
Kronox Lab Sciences IPO – Summary
They manufacture High Purity Speciality Fine Chemicals for diversified end-user industries.
Their High Purity Speciality Fine Chemicals are used mainly as (i) reacting agents and raw material in the manufacturing of Active Pharmaceutical Ingredients (APIs); (ii) excipients in pharmaceutical formulations; (iii) reagents for scientific research and laboratory testing; (iv) ingredients in nutraceuticals formulations; (v) process intermediates and fermenting agents in biotech applications.
The promoters of this company is JOGINDERSINGH JASWAL, KETAN RAMANI AND PRITESH RAMANI. The lead manager of the issue is Pantomath Capital Advisors Private Limited, and the Registrar of this issue is KFin Technologies Limited.
Kronox Lab Sciences IPO Date
The opening and closing dates of Kronox Lab Sciences IPO are June 3, 2024 and June 5, 2024, respectively.
Kronox Lab Sciences IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 3rd Jun | 0.44x | 20.11x | 13.35x | 7.91x |
| 2nd Day – 4th Jun | 3.39x | 53.10x | 24.89x | 24.80x |
| 3rd Day – 5th Jun | 89.03 | 301.92 | 54.24 | 117.25 |
| Shares Offered or Net Issue | 4,785,000 | 1,435,500 | 3,349,500 | 9,570,000 |
The shares subscribed by the public will be updated here.
Kronox Lab Sciences IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Kronox Lab Sciences Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | June 6, 2024 |
| Refunds Initiation | June 7, 2024 |
| Credit of Shares to Demat Account | June 7, 2024 |
| Share Listing Date | June 10, 2024 |
Kronox Lab Sciences IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 129 to Rs 136
Kronox Lab Sciences IPO Equity Size
This Initial Public Issue of 9,570,000 Equity Shares of Rs.10 each for cash at a price of Rs 129 to Rs 136 per equity share aggregating to Rs.130.15 Crore.
Kronox Lab Sciences IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 9,570,000 Equity Shares of Rs.10/ each.
Issue Size: 9,570,000 Equity Shares of Rs.10 each, aggregating to Rs.130.15 Crore
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Kronox Lab Sciences IPO – Live Performance
The listing date of this IPO is June 10, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Kronox Lab Sciences Share Price |
Kronox Lab Sciences IPO Grey Market Premium
The Kronox Lab Sciences Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Kronox Lab Sciences IPO – Company Overview
Their products are manufactured in accordance with industry standards like IP, BP, EP, JP, USP, FCC, LR, AR, GR and ACS in addition to custom manufacturing specifications, which differ from the industry standards, required by their customers in select cases.
They manufacture High Purity Speciality Fine chemicals of various grades in particle sizes ranging from 10 mesh to 100 mesh. They believe that their focus on product development, diversity in product offerings, meeting quality standards and customer specifications and continuous process improvement has led to repeat orders from their customers over the years.
Their range of more than 185 products spanning across the family of phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, among others, are supplied to customers in India and more than 20 countries globally.
Kronox Lab Sciences IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||||
| 31-Dec-23 | 31-Dec-22 | Mar-23 | 31-Mar-22 | 31-Mar-21 | |
| Total Assets |
669.59
|
662.52
|
540.34
|
567.88
|
376.46
|
| *Total Revenue |
684.38
|
758.85
|
974.98
|
833.40
|
632.36
|
| Total Expense |
482.26
|
575.12
|
751.72
|
649.85
|
500.15
|
| Profit After Tax |
154.69
|
140.91
|
166.17
|
136.27
|
97.30
|
Earnings per Equity Share (in Million)
| 31-Dec-23 | 31-Dec-22 | Mar-23 | 31-Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
4.17
|
3.61
|
4.30
|
3.49
|
2.40
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 166.17 Million, Rs. 136.27 Million and Rs. 97.30 Million respectively.
Kronox Lab Sciences IPO – Promoters
The Promoter of this company is:
- JOGINDERSINGH JASWAL,
- KETAN RAMANI
- PRITESH RAMANI
List of Related Parties (Key Managerial Personnel)
- Jogindersingh Jaswal, Chairman and Managing Director
- Ketan Ramani, Whole-time Director
- Pritesh Ramani, Whole-time Director
- Satish Kumar, Independent Director
- Krutika Negandhi, Independent Director
Kronox Lab Sciences IPO – Promoters Holding
- Pre-Issue Share Holding – 99.98%
- Post-Issue Share Holding – 74.21%
Kronox Lab Sciences IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 9,570,000 Equity Shares aggregating up to Rs.130.15 Crore |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than 33,49,500 Equity Shares |
| Other than Retail Individual Investors | Not more than 14,35,500 Equity Shares |
| Equity Shares outstanding prior to the Issue | 3,71,04,000 Equity Shares |
| Equity Shares outstanding after the Issue | 3,71,04,000 Equity Shares |
Kronox Lab Sciences IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- To carry out the Offer for Sale of up to 95,70,000 Equity Shares aggregating up to ₹ [●] million by the Promoter Selling Shareholders; and
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges
Kronox Lab Sciences IPO – Business Strategy
- Expand their product portfolio, increasing the supply of their products to their existing customers
- Expand their capacity for existing products and diversify into new products
- Explore newer applications for their existing products and develop new products that are in synergy with their current and future operations
Kronox Lab Sciences IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Wide range of products finding applications in diversified end-user industries
- Long-standing relationship with customers
- High entry and exit barriers due to long customer approval cycles and strict product standards
- Focus on R&D and Quality Control
- Zero debt company with strong and consistent financial performance
- Strategically located manufacturing facilities providing supply chain efficiencies
- Experienced Promoters and Senior Management with extensive domain knowledge
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 4.30 | 37.19 |
12.04
|
| 31-Mar-22 | 3.49 |
33.77
|
10.34 |
| Mar-21 | 2.40 |
36.29
|
6.87 |
Kronox Lab Sciences IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Kronox Lab Sciences Limited | 10 | [●] | 4.30 |
37.19
|
974.98
|
| Listed Peers | |||||
| Tatva Chintan Pharma Chem Limited | 10 |
57.57
|
19.45 |
8.84
|
4,293.56
|
| Tanfac Industries Limited | 10 |
39.15
|
56.27
|
30.46
|
3,828.70
|
Kronox Lab Sciences IPO Lead Managers
| Lead Managers |
| Pantomath Capital Advisors Private Limited Pantomath Nucleus House, Saki Vihar Road, Andheri East, Mumbai -400072 Maharashtra, India Tel: 1800 889 8711E-mail:kronox.ipo@pantomathgroup.com Website: www.pantomathgroup.com Investor grievance e-mail: investors@pantomathgroup.com Contact Person: Kaushal Patwa SEBI Registration No.: INM000012110 |
Kronox Lab Sciences IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Limited Selenium Tower B, Plot No. 31-32, Gachibowli Financial District, Nanakramguda, Serilingampally, Hyderabad 500 032, Telangana, India Telephone:+91 40 6716 2222/ 1800 309 4001 Email:klsl.ipo@kfintech.com Investor grievance email:einward.ris@kfintech.com Website:www.kfintech.com Contact Person: M Murali Krishna SEBI Registration No.:INR000000221 |
Kronox Lab Sciences IPO – Other Details
- Statutory Auditor – Mahesh Udhwani & Associates, Chartered Accountants
- Legal Counsel to the Company – Desai & Diwanji
- Bankers to the Company – HDFC Bank Limited and Bank of India
Kronox Lab Sciences IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Kronox Lab Sciences Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Kronox Lab Sciences IPO Review FAQs
Check out various FAQs related to Kronox Lab Sciences IPO:
What is the Issue Size of Kronox Lab Sciences IPO?
The Company is making an initial public offer of 9,570,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Kronox Lab Sciences IPO?
The price band for this particular IPO ranges between Rs 129 to Rs 136. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Kronox Lab Sciences IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on June 3, 2024, while the closing date is set at June 5, 2024.
What is the Kronox Lab Sciences IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on June 6, 2024, refund initiation is on June 7, 2024, credit of shares is on June 7, 2024, and share listing date is on June 10, 2024.
What is the Kronox Lab IPO Listing Date?
Shares of this company shall be listed in the exchanges on June 10, 2024. The date, when the listing would be done, is stagnant on June 10, 2024.
Who is the Registrar of Kronox Lab IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Kronox Lab IPO?
Here are the promoters of this IPO – JOGINDERSINGH JASWAL, KETAN RAMANI AND PRITESH RAMANI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Kronox Lab IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Kronox Lab IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Kronox Lab Sciences Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 166.17, 2022 is 136.27, and 2021 is 97.30. PAT from Dec 2023 is 154.69.
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