IPO Trades

1. Kronox Lab Sciences Limited IPO Details:

Kronox Lab Sciences Limited aims to raise Rs. 130.15 Cr. through IPO. It is a book-built issue. Kronox Lab Sciences Limited IPO will open for subscription on June 3^rd, 2024, and closes on June 5th, 2024.  The issue is a complete Offer for Sale (OFS) of 95.70 Lakhs Shares having a face value of Rs. 10 each.

Kronox Lab Sciences Limited IPO Pricing:-

The price band of IPO is set at Rs. 129/- to Rs. 136/- and the lot size is 110 shares. The minimum investment requirement for the retail category is Rs.14960/-, for small HNI is 14 lots (1540 shares) amounting to Rs.209,440/-, for Big HNI is 67 lots (7370 shares) amounting to Rs.10,02,320/-.

Timeline of Kronox Lab Sciences Limited IPO:

The date of allotment of Kronox Lab Sciences Limited IPO is June 6^th, 2024 and the date of listing of IPO on NSE and BSE is June 10^th, 2024.

About Kronox Lab Sciences Limited:

1. Kronox Lab Sciences Limited was established in 2008 for business in the manufacturing of high-purity specialty fine Chemicals for domestic and international industries. The manufactured High Purity Speciality Fine Chemicals are used in pharmaceutical formulation, metal refineries, agrochemical industries, personal care manufacturers etc.
2. Kronox Lab Sciences Limited’s portfolio has 185 products including citrate, phosphate, carbonate, nitrates, etc. It has clients in India and 20+ other countries like the USA, UK China, Spain, Argentina, Mexico, Australia, Egypt, Belgium, Turkey, and many others.
3. All three manufacturing plants of the company are established in Gujarat which is close to three major seaports Nhava Sheva, Kandla, and Mundra. Some products of the company have also received certification of Kosher, Halal, GMP, and GLP.

Details of Financials of Kronox Lab Sciences Limited:

Particulars	FY 23 (In Cr.)	FY 22 (In Cr.)	FY 21 (In Cr.)
Revenue from Operations	95.57	82.24	62.46
EBITDA	21.99	19.69	14.80
PAT	16.61	13.62	9.73
Total Assets	54.03	56.78	37.64
Share Capital	37.10	0.24	0.24
Total Borrowings	9.35	16.43	10.83
Net Cash Generated	19.66	9.02	11.31
Earning per share (Basis and Diluted)	4.30	3.49	2.40

Valuation of Kronox Lab Sciences Limited:

Details of Peers:

1. Neogene Chemicals Limited
2. Tatva Chintan Pharma Chem limited
3. Sigachi Industries Limited
4. Tanfac Industries Limited
5. DMCC Speciality Chemical Limited

The objective of the Issue:

Three Kronox Lab Sciences Limited promoters are selling shares through OFS, and the company will not receive any proceeds from the IPO.

Key Points of Kronox Lab Sciences Limited IPO:

S.No.	Strength	Weakness
1	Negative cash flow was reported in the previous year’s results.	Out of 185 products, only 20 products contribute the highest to its revenue.
2	Strong focus on R&D and Quality Checks.	High working capital requirements for business growth.
3	The company has a diversified portfolio with approx. 185 products.	The strategic location of all three manufacturing units is near seaports.
4	Experienced management team and Zero Debt on the company	Negative cash flow was reported in the previous year’s results.

Grey Market Premium (GMP) of Kronox Lab Sciences Limited IPO:

The IPO GMP as per various online resources is Approx. 60% i.e. Rs. 82 as on June 3, 2024.

IPO Allotment of Kronox Lab Sciences Limited IPO:

Kfin Technologies Limited is the registrar of the IPO and the IPO allotment status of Kronox Lab Sciences Limited IPO can be checked on KFin Technology Limited website on June 6^th, 2024.

Details of Registrar and Book running Manager of Kronox Lab Sciences Limited IPO:

KFin Technologies Limited is the registrar and Pantomath Capital Advisors Private Limited is the book-running lead manager of the IPO.

For detailed information, please refer to DRHP of Kronox Lab Sciences Limited IPO.

Details of Registrar:

Frequently Asked Questions (FAQs):

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