Kronox Lab Sciences IPO
IPO Listing Details
- Listing Date
10 Jun 2024
- Listing Price
₹165.00
- Listing Change
21.32%
- Last Traded Price
₹212.02
IPO Details
- Open Date
03 Jun 2024
- Close Date
05 Jun 2024
- IPO
Price Range
₹ 129 to ₹ 136
- IPO
Size
₹ 130.15 Cr
- Listing Exchange
BSE, NSE
- Listing Date
10 Jun 2024
IPO Timeline
Kronox Lab Sciences IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 03-Jun-24 | 0.44 | 20.11 | 13.35 | 7.91 |
| 04-Jun-24 | 3.39 | 53.06 | 24.83 | 24.75 |
| 05-Jun-24 | 89.03 | 301.92 | 54.23 | 117.25 |
Last Updated: 11 June 2024 11:36 AM by 5Paisa
Last Updated: 05th June, 2024 by 5paisa
Kronox Lab Sciences IPO is set to open from 3rd June to 5th June 2024. The company is engaged in the business of making High Purity Speciality Fine Chemicals. The IPO includes an Offer-for-Sale (OFS) of 9,570,000 shares worth ₹130.15 cr. The share allotment date is 6th June 2024, and the IPO will be listed on 10th June 2024 on the stock exchanges. The price band is set at ₹129 to ₹136 and the lot size is 110 shares.
Pantomath Capital Advisors Private Limited is the book-running lead manager for this IPO, while KFin Technologies Limited is the registrar.
Objectives of Kronox Lab Sciences IPO
The company will receive no proceedings from the public issue.
Kronox Lab Sciences IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 130.15 |
| Offer for sale | 130.15 |
| Fresh issue | - |
Kronox Lab Sciences IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,960 |
| Retail (Max) | 13 | 1430 | ₹194,480 |
| S-HNI (Min) | 14 | 1,540 | ₹209,440 |
| S-HNI (Max) | 66 | 7,260 | ₹987,360 |
| B-HNI (Min) | 67 | 7,370 | ₹1,002,320 |
Kronox Lab Sciences IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 89.03 | 19,14,000 | 17,04,09,360 | 2,317.57 |
| NII (HNI) | 301.92 | 1,435,500 | 43,34,00,660 | 5,894.25 |
| Retail | 54.23 | 3,349,500 | 18,16,35,960 | 2,470.25 |
| Total | 117.25 | 9,570,000 | 78,54,45,980 | 10,682.07 |
Established in 2008, Kronox Lab Sciences Limited is engaged in the business of making High Purity Speciality Fine Chemicals for a wide range of industries meeting many domestic and international quality standards like IP, BP, EP, JP, USP, FCC, LR, AR, GR and ACS. The particle size of these chemicals is between 10 mesh to 100 mesh.
Kronox Lab Sciences’ products are used as:
(i) reacting agents and raw materials in the manufacturing of Active Pharmaceutical Ingredients (APIs)
ii) excipients in pharmaceutical formulations
iii) reagents for scientific research and laboratory testing
iv) ingredients in nutraceutical formulations
v) process intermediates and fermenting agents in biotech applications
vi) ingredients in agrochemical formulations
vii) ingredients in personal care products
viii) refining agents in metal refineries
ix) ingredients in animal health products, amongst others
Kronox Lab Sciences has 185 products including phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, etc. which are supplied in India and 20+ countries such as the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, United Kingdom, Belgium, United Arab Emirates, China, etc.
It has three manufacturing units in Vadodara, Gujarat. All three are near the seaports of Mundra, Kandla, Hazira and Nhava Sheva. Along with that Kronox Lab Sciences is FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified along with some of its products being given the certification of s Kosher, Halal, GMP and GLP.
Peer Comparison
● Tatva Chintan Pharma Chem Limited
● Tanfac Industries Limited
● Neogen Chemicals Limited
● Sigachi Industries Limited
● DMCC Speciality Chemical Limited
For More Information:
Webstory on Kronox Lab Sciences IPO
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 95.57 | 82.24 | 62.46 |
| EBITDA | 21.99 | 19.69 | 14.80 |
| PAT | 16.61 | 13.62 | 9.73 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 54.03 | 56.78 | 37.64 |
| Share Capital | 37.10 | 0.24 | 0.24 |
| Total Borrowings | 9.35 | 16.43 | 10.83 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 19.66 | 9.02 | 11.31 |
| Net cash from / (used in) investing activities | -5.51 | -7.59 | -2.95 |
| Net cash flow from / (used in) financing activities | -13.39 | -0.66 | -7.09 |
| Net increase (decrease) in cash and cash equivalents | 0.752 | 0.756 | 1.26 |
Strengths
1. The company has a wide range of products finding applications in diversified end-user industries.
2. It has long-standing relationships with customers.
3. The industry in which the company operates has high entry and exit barriers due to long customer approval cycles and strict product standards.
4. It has a strong focus on R&D and Quality Control.
5. It is a zero-debt company with strong and consistent financial performance.
6. All three of its manufacturing facilities are strategically located, providing supply chain efficiencies.
7. Experienced management team.
Risks
1. The company’s 20 products contribute the highest to its revenue.
2. Any failure in developing new High Purity Speciality Fine Chemicals may affect the future growth and business.
3. The average P/E ratio of the listed industry peers is 67.50 while the P/E ratio of the Company is at a premium of 31.63 times at the higher price band and 30.00 times at the lower price band.
4. It had a streak of high current ratio in the past.
5. Exposed to foreign exchange risks.
6. High working capital requirements.
7. It has reported negative cash flows in the past.
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FAQs
Kronox Lab Sciences IPO opens from 3rd June to 5th June 2024.
The size of Kronox Lab Sciences IPO is ₹130.15 cr.
To apply for Kronox Lab Sciences IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for Kronox Lab Sciences IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The price band of Kronox Lab Sciences IPO is set at ₹129 to ₹136 per share.
The minimum lot size of Kronox Lab Sciences IPO is 110 shares and the minimum investment required to apply for the IPO is ₹14,190.
The share allotment date of Kronox Lab Sciences IPO is 6th June 2024.
The Kronox Lab Sciences IPO will be listed on 10th June 2024.
Pantomath Capital Advisors Private Limited is the book-running lead manager for Kronox Lab Sciences IPO.
Kronox Lab Sciences will receive no proceedings from the public issue.
Contact Information
Kronox Lab Sciences
Kronox Lab Sciences Limited
Block No. 353,
Village Ekalbara, Padra,
Vadodara-391440
Phone: +91 26 6224 4077/88
Email: cs@kronoxlabsciences.com
Website: https://www.kronoxlabsciences.com/
Kronox Lab Sciences IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: klsl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Kronox Lab Sciences IPO Lead Manager
Pantomath Capital Advisors Pvt Ltd
