Kronox Lab Sciences is launching its IPO next week on Monday (June 3, 2024), offering shares at a fixed price range of Rs 129 to Rs 136 each. Investors can apply till June 5, 2024.
Kronox Lab Sciences’ IPO involves its promoters, Joginder Singh Jaswal, Ketan Ramani, and Pritesh Ramani, and is fully an offer-for-sale (OFS) selling up to 95,70,000 equity shares valued at Rs 130.15 crore.
The company won’t receive any funds from the sale. Whereas, opening date for the anchor book is Friday, May 31.
Kronox Lab Sciences has set aside half of its IPO allocation for qualified institutional bidders (QIBs), with 15% reserved for non-institutional investors (NIIs). The remaining 35% is for retail investors.
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Kronox specializes in the production of highly pure specialty chemicals with applications across various industries, including pharmaceuticals, scientific research, agriculture, and personal care. It also provides a large variety of more than 185 products, such as phosphate, sulphate, acetate, chloride, and others. It exports its offerings to more than 20 countries worldwide, including the USA, UK, Australia, Turkey, Argentina, Belgium, Mexico, China, United Arab Emirates, Egypt, and more.
Operating three manufacturing facilities and a Research, Development, and Testing (RDT) lab in Vadodara, Gujarat, situated near the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. Kronox is expanding and planning a new manufacturing unit in Dahej.
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The lead manager for the upcoming offer is Pantomath Capital Advisors Private Ltd. Whereas, the company plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
In the nine months till December 31, 2023, Kronox Labs earned a net profit of Rs 15.46 crore, generating revenue of Rs 68.44 crore, and total revenue was Rs 95.6 crore, showing a growth rate of 23.70% compared to FY2021.
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The company achieved an EBITDA of Rs 22 crore, with an EBITDA margin of 23.01%. The profit after tax was Rs 16.6 crore.
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before investing.
