Kronox Lab Sciences IPO raised Rs 130.15 crore. A total of 96 million shares were sold in this offering. Registration for the
Kronox Lab Sciences IPO will begin on June 3, 2024, and close on June 5, 2024. IPO to IPO. BSE, NSE, scheduled for Monday, June 10, 2024.
Kronox Lab Sciences IPO priced at Rs 129-136 per share. Minimum order quantity is 110 pieces Minimum investment required by wholesaler is Rs 14,960. The minimum capital for sNII is 14 shares (1,540 shares) worth Rs 209,440 and for bNII it is 67 shares (7,370 shares) worth Rs 1,002,320.
Kronox Lab Sciences IPO Details
| IPO Date | June 3, 2024 to June 5, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹129 to ₹136 per share |
| Lot Size | 110 Shares |
| Total Issue Size | 9,570,000 shares (aggregating up to ₹130.15 Cr) |
| Offer for Sale | 9,570,000 shares of ₹10 (aggregating up to ₹130.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 37,104,000 |
| Share holding post issue | 37,104,000 |
Kronox Lab Sciences IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Kronox Lab Sciences IPO Timeline (Tentative Schedule)
Kronox Lab Sciences IPO opens on June 3, 2024, and closes on June 5, 2024.
| IPO Open Date | Monday, June 3, 2024 |
| IPO Close Date | Wednesday, June 5, 2024 |
| Basis of Allotment | Thursday, June 6, 2024 |
| Initiation of Refunds | Friday, June 7, 2024 |
| Credit of Shares to Demat | Friday, June 7, 2024 |
| Listing Date | Monday, June 10, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 5, 2024 |
Kronox Lab Sciences IPO Lot Size
Investors can bid for a minimum of 110 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,960 |
| Retail (Max) | 13 | 1430 | ₹194,480 |
| S-HNI (Min) | 14 | 1,540 | ₹209,440 |
| S-HNI (Max) | 66 | 7,260 | ₹987,360 |
| B-HNI (Min) | 67 | 7,370 | ₹1,002,320 |
Kronox Lab Sciences IPO Promoter Holding
The Promoters of the Company are Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani.
| Share Holding Pre Issue | 99.98% |
| Share Holding Post Issue | 74.21% |
About Kronox Lab Sciences Limited
Kronox Lab Sciences Limited, established in 2008, is a leading manufacturer of specialty chemicals for a variety of end-use industries. The company’s high-quality chemicals are widely used in API synthesis, pharmaceuticals, scientific research, food additives, biotechnology applications, agriculture, personal care products, metallurgy and animal products.
The company offers more than 185 products, including phosphates, sulfates, acetates, chlorides, citrates, nitrates, nitrites, carbonates, EDTA derivatives, hydroxides, succinates , gluconate, etc. These products are supplied to customers in India and more than 20 countries across the world.
The company’s products are exported to the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, the United Kingdom, Belgium, the United Arab Emirates, China and other countries.
The company has three manufacturing bases at Vadodara, Gujarat, close to the ports of Mundra, Kandla, Hazira and Nhava Sheva. The property area is 17,454 square meters. Unit capacity as of December 31, 2023 was 7,242 TPA. In addition, some of the products produced by Unit I have obtained Kosher, Halal, GMP and GLP certifications.
As of December 31, 2023, the company is developing 122 products
It has served more than 592 customers in the past three years. As of December 31, 2023, a total of 141 customers had placed repeated orders.
As of December 31, 2023, the company had 212 employees at all levels.
Kronox Lab Sciences Limited Financial Information (Restated)
Kronox Lab Sciences Limited’s revenue increased by 16.99% and profit after tax (PAT) rose by 21.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 66.96 | 54.03 | 56.79 | 37.65 |
| Revenue | 68.44 | 97.50 | 83.34 | 63.24 |
| Profit After Tax | 15.47 | 16.62 | 13.63 | 9.73 |
| Net Worth | 60.28 | 44.68 | 40.35 | 26.81 |
| Reserves and Surplus | 15.56 | 7.58 | 40.11 | 26.57 |
| Total Borrowing | 0.64 | 0.01 | ||
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Kronox Lab Sciences IPO is Rs 504.61 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 25.66% |
| ROCE | 33.15% |
| RoNW | 25.66% |
| P/BV | 8.37 |
| PAT Margin (%) | 22.6 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.48 | 5.56 |
| P/E (x) | 30.37 | 24.47 |
Objects of the Issue (Kronox Lab Sciences IPO Objectives)
The Objects of the Offer are to:
- Obtain an offer to sell up to 95,70,000 shares to a broker;
- Earn profits through stock listing transactions. Additionally, the company expects that the equity option will enhance the brand’s visibility and image, provide capital to existing shareholders and provide a public market for the Indian equity industry.