Kronox Lab Sciences IPO Details and Market Insights

Kronox Lab Sciences is set to open its initial public offering (IPO) for subscription on Monday, June 3, with a price range of ₹129–136 per share. The minimum investment lot size for the IPO is 110 equity shares. The subscription period will close on Wednesday, June 5. Ahead of the IPO, the company raised ₹39.04 crore from anchor investors on Friday, May 31.

According to a circular issued by the BSE, Kronox Lab Sciences has allocated 28.71 lakh equity shares of ₹10 each to anchor investors at a price of ₹136 per share, which includes a premium of ₹126 per share. The anchor investors include Negen Undiscovered Value Fund, Chanakya Opportunities Fund I, Minerva Emerging Opportunities Fund Ltd, Moneywise Financial Services Ltd, Capri Global Capital, and VPK Global Ventures Fund.

Kronox Lab Sciences specializes in the production of specialty fine chemicals used in various sectors such as biotech, pharmaceuticals, metallurgy, agrochemicals, scientific research, and personal care.

The company operates three production facilities and a Research, Development, and Testing (RDT) laboratory in Vadodara, Gujarat. Additionally, it has acquired land in Dahej, Gujarat, to establish a new production facility. Kronox Lab Sciences exports to over 20 countries, including the US, UK, Mexico, Australia, and Egypt.

The IPO allocation is divided as follows: 35% for retail investors, 50% for qualified institutional buyers, and 15% for non-institutional investors.

**Kronox Lab Sciences IPO Grey Market Premium (GMP)**

The current grey market premium (GMP) for the Kronox Lab Sciences IPO is +82, indicating that the shares are trading at a premium of ₹82 in the grey market. Based on this premium and the upper end of the IPO price band, the expected listing price for Kronox Lab Sciences shares is around ₹218, which is 60.29% higher than the IPO price of ₹136.

The recent activity in the grey market suggests a strong listing, with analysts noting that the GMP has ranged from ₹80 to ₹82 over the past four sessions. This premium reflects investors’ willingness to pay more than the issue price.

**IPO Structure and Key Players**

The IPO consists solely of an offer-for-sale (OFS) of 95.7 lakh equity shares, meaning there are no new shares being issued. Consequently, all proceeds from the IPO will go to the selling shareholders. The promoters, Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani, are collectively selling 31.9 lakh shares each.

Pantomath Capital Advisors Pvt Ltd is the book running lead manager for the IPO, and Kfin Technologies Limited is the registrar.

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