Kronox Lab Sciences IPO Opens for Subscription: IPO Details and Financial Snapshot

Kronox Lab Sciences Limited has made its initial public offering (IPO) available for subscription today, presenting an opportunity for investors to acquire shares in the company. A key player in the specialty fine chemicals manufacturing industry, the public issue will raise a sum of ₹130.15 crore through an entirely open-for-sale (OFS) offering.

The IPO has set a price band of ₹129 to ₹136 per equity share, with a lot size of 110 shares per application. KFin Technologies Limited has been selected as the registrar of the issue, ensuring that the process runs smoothly. The basis of allotment, scheduled for June 6th, 2024, will herald the distribution of shares among successful bidders.

According to the Live Mint Digital Team, the public issue stands fully subscribed, underlining the demand for the shares. Market reports suggest that Kronox Lab Sciences shares are already trading at a premium in the grey market. Axis Capital‘s analysis of the company’s financials reveals a promising track record, with consistent growth rates in revenue, EBITDA, and PAT over the past three fiscal years.

Collaborating with Pantomath Capital Advisors Pvt Ltd as the book running lead manager, Kronox Lab Sciences plans to list on both BSE and NSE. The expected listing date for the IPO is June 10th, 2024, following the ‘T+3’ rule for market listing.