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The floor price is 12.90 times the face value of the equity shares and the cap price is 13.60 times the face value of the equity shares. The price/earnings ratio based on diluted EPS for fiscal 2023 at the floor price is 30 times and at the cap price is 31.63 times as compared to the average industry peer group P/E ratio of 67.50. The Kronox Lab Sciences IPO lot size is 110 equity shares and in multiples of 110 equity shares thereafter.
In the Kronox Lab Sciences IPO, a minimum of 15% of the shares have been allocated for non-institutional institutional investors (NII), 35% of the shares are allocated for retail investors, and 50% of the shares are reserved for qualified institutional buyers (QIB).
Tentatively, Kronox Lab Sciences IPO basis of allotment of shares will be finalised on Thursday, June 6, and the company will initiate refunds on Friday, June 7, while the shares will be credited to the demat account of allottees on the same day following refund. Kronox Lab Sciences share price is likely to be listed on BSE and NSE on Monday, June 10.
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Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani are the company’s promoters.
High-purity specialty fine chemicals are produced by Kronox Lab Sciences Limited for a range of end markets. The company’s High Purity Specialty Fine Chemicals are utilised in the production of pharmaceutical formulations, nutraceuticals, scientific research, agrochemical formulations, metal refineries, personal care products, and animal health products, among other uses.
A vast array of more than 185 goods are available from the corporation, such as phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, and others. Customers in India and over 20 other countries across the world are served by these items.
The company’s listed peers are Tatva Chintan Pharma Chem Ltd (with a P/E of 57.57), Tanfac Industries Ltd (with a P/E of 39.15), Neogen Chemicals Ltd (with a P/E of 77.55), Sigachi Industries Ltd (with a P/E of 46.64), and DMCC Speciality Chemical Ltd (with a P/E of 116.57).
From March 31, 2022 to March 31, 2023, Kronox Lab Sciences Limited’s profit after tax (PAT) climbed by 21.94% while its revenue increased by 16.99%.
Kronox Lab Sciences IPO details
There is no fresh issue component to the IPO; there is only an offer-for-sale (OFS) of 95.7 lakh equity shares. As a result, the selling shareholders will get the full issue proceeds.
The OFS’s selling shareholders include the promoters Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani, who are each offloading 31.9 lakh shares.
The book running lead manager for the Kronox Lab Sciences IPO is Pantomath Capital Advisors Pvt Ltd, and the registrar is Kfin Technologies Limited.
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Kronox Lab Sciences IPO GMP today
Kronox Lab Sciences IPO GMP or grey market premium is +80. This indicates Kronox Lab Sciences share price were trading at a premium of ₹80 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Kronox Lab Sciences IPO expected listing price was indicated at ₹216 apiece, which is 58.82% higher than the IPO price of ₹136.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Published: 30 May 2024, 08:51 AM IST
