Durlax Top Surface IPO: The initial public offering (IPO) of Durlax Top Surface Limited is going to hit the Indian primary market on 19th June 2024, i.e. on Wednesday this week. The public issue will remain open for bidding till 21st June 2024. The solid surface material maker company has fixed the Durlax Top Surface IPO price band at ₹65 to ₹68 per equity share. The book build issue is a mix of fresh problems and offers for Sale (OFS). The book build issue is proposed for listing on the NSE SME Emerge platform. Meanwhile, ahead of the Durlax Top Surface IPO opening this week, Durlax Top Surface Limited shares have become available in the grey market. According to the stock market observers, Durlax Top Surface Limited shares are available at a premium of ₹15 in the grey market today.
Top 10 Durlax Top Surface IPO details
1] Durlax Top Surface IPO GMP: Durlax Top Surface Limited Shares are available at a premium of ₹15 in the grey market today, say market observers.
2] Durlax Top Surface IPO date: The book build issue will open on June 19th, 2024, and end on June 21st, 2024.
3] Durlax Top Surface IPO price: The solid surface material maker company has fixed the Durlax Top Surface IPO price band at ₹65 to ₹68 per equity share.
4] Durlax Top Surface IPO size: The SME IPO will combine fresh issues with OFS. The company aims to raise ₹28.56 crore through the issuance of fresh shares, while ₹12.24 crore has been fixed for the OFS route.
5] Durlax Top Surface IPO lot size: A bidder can apply in lots, and one lot of the NSE SME IPO comprises 2000 company shares.
6] Durlax Top Surface IPO allotment date: The finalization of share allocation can be expected on Saturday this week, 22 June 2024, i.e., Saturday. If the share allocation is not announced on Saturday this week, it will be declared on Monday next week, i.e. on 24th June 2024.
7] Durlax Top Surface IPO registrar: Bigshare Private Ltd has been appointed as the official registrar of the book build issue.
8] Minimum investment limit: As the Durlax Top Surface IPO lot size comprises 2000 company shares and the issue’s price band has been fixed at ₹65 to ₹68 apiece, the minimum investment required for the NSE SME IPO is ₹1,36,000 ( ₹68 x 2000).
9] Durlax Top Surface IPO listing: The SME IPO is proposed for listing on the NSE SME Emerge platform.
10] Durlax Top Surface IPO listing date: In the wake of the ‘T+3’ listing rule, the Durlax Top Surface IPO listing date is most likely on Wednesday, June 26th, 2024.
Company management’s view
Speaking on the public issue, Shravan Suthar, Chairman and Managing Director of Durlax Top Surface Limited, said, “Our decision to launch our IPO marks a pivotal moment for Durlax Top Surface Limited. This move is driven by our commitment to expanding our operations and meeting the growing demand for our premium solid surface materials. The funds raised will be utilized for our working capital and supporting our strategic initiatives for sustained growth. Our manufacturing facility in Vapi, equipped with cutting-edge technologies from Germany and South Korea, underscores our dedication to delivering quality and innovation. Through brands like LUXOR and ASPIRON, we aim to continue providing durable and stylish solutions across diverse local and international industries.”
Gaurav Jain, Founder & Director of Expert Global Consultants Private Limited, said, “The solid surfaces industry in India, particularly the countertop segment, is poised for substantial growth driven by increasing consumer preference for higher-quality materials. This trend is mirrored in the expanding home decor market, which benefits from rising disposable incomes and a burgeoning e-commerce landscape. Durlax Top Surface Limited’s IPO proceeds allocated towards enhancing operational capabilities and market expansion are strategically poised to capitalize on these favourable industry dynamics, ensuring sustained growth and competitive advantage.”
Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 17 Jun 2024, 12:31 PM IST
