Kronox Lab Sciences IPO Subscription Status

Kronox Lab Sciences

Kronox Lab Sciences Ltd. is a bulk manufacturer of high-purity fine chemicals. They comply with Reagent, Pharmacopoeia, and various Food Grade standards. 

Their products serve the pharmaceutical, nutraceutical, veterinary, food, chemical analysis, and other specialty markets.

Kronox Lab Sciences IPO Subscription Status

The Kronox Lab Sciences IPO is currently in progress:

Subscription Period: The IPO opened on June 3, 2024, and will close on June 5, 2024​​.

Share Distribution:

• Qualified Institutional Buyers (QIB) are allocated 50% of the shares.
• Non-Institutional Investors (NII) get 15%.
• Retail Investors (RII) are offered 35% of the shares​​.
• Lot Size: The minimum number of shares you can bid for is 110, which costs about ₹14,960 at the lower end of the price band. Retail investors can apply for up to 13 lots (1430 shares), amounting to ₹194,480​​.
• Price Range: The shares are priced between ₹129 to ₹136 per share​​.
• Total Size: The IPO aims to raise around ₹130.15 crores​.

Allotment and Listing:

• The basis of allotment will be finalized by June 6, 2024.
• Refunds will be initiated by June 7, 2024.
• Shares will be credited to demat accounts on June 7, 2024.
• The shares are expected to be listed on stock exchanges (BSE and NSE) on June 10, 2024​​.

Subscription Allotment Day 3:

• Total Subscription: Investors requested 43.46 times more shares than were available.
• Qualified Institutional Bidders (QIBs): This group includes large financial institutions. They asked for 116 times the shares available to them.
• Non-Institutional Investors (NIIs): Generally rich individuals or corporations. They bid for 115.86 times the available shares.
• Retail Investors: Normal individual investors. They bid for 34.69 times the available shares.

The initial public offering (IPO) of Kronox Lab Sciences received 78,54,49,170 bids for shares, compared to the 66,99,000 shares on offer, as per stock exchange data at 17:30 IST on Wednesday (5 June 2024). The issue was subscribed 117.25 times.

Kronox Lab Sciences is engaged in the business of high-purity specialty fine chemicals for diverse industries, including pharmaceutical, personal care, and other industrial products. This IPO provides an opportunity for investors to invest in a diversified product portfolio with an established international presence.

Kronox Lab Sciences Financial Performance

Kronox Lab Sciences is earning more, growing at a steady pace, and utilizing its resources efficiently which is a positive sign for the investors.

Profitability:

Kronox Lab Sciences earned a profit of ₹16.6 crore in fiscal 2023. In simple words, after spending all their expenses, they have still have money in hand.

Growth:

Kronox has been earning more and more in the last few years. Their profit grew by an average of 31% between fiscal 2021 and 2023.

It indicates that the company is becoming more successful with the passing years.

Efficiency:

Kronox manages its funds efficiently. They maintain their return on equity (RoE) at 37.2% and return on capital employed (RoCE) at 49.9% in fiscal 2023.

It indicates the company utilizes its funds efficiently and earns good returns on the funds invested in the business.