Kronox Lab Sciences IPO listed on the bourses today (June 10) at ₹164.95 on the NSE- a premium of 21.2 per cent over the issue price of ₹136.
The listing was in line with market expectations as trends in the grey market earlier indicated a debut with around 22-30 per cent premium for the stock.
The IPO-which is worth ₹130 crore-received a strong response from investors as it was subscribed over 117 times, with NIIs bidding 302 times their allotted quota, QIBs bought 89 times their quota and retail investors bidding for 54.23 times the reserved portion.
Ahead of the IPO, the company raised ₹39.05 crore from anchor investors like Negen Undiscovered Value Fund, Chanakya Opportunities Fund I, Minerva Emerging Opportunities Fund, Capri Global Capital, and Moneywise Financial Services.
Kronox Lab Sciences IPO details
Kronox Lab Sciences IPO was entirely an offer for sale of up to 97.5 lakh shares. In the issue, shareholders Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani, were part of the promoter group which offloaded stakes. The price band of the issue was in the range of ₹129 to ₹136 apiece with a lot size of 110 shares. Net proceeds from the IPO will go to the selling shareholders since the issue is entirely an OFS.
Kronox Lab Sciences company profile
The company specialises in the manufacturing of High Purity Specialty Fine Chemicals for various industries.
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