IPO listing: Kronox Lab Sciences share price debuts at ₹165, a 21% premium to issue price
₹164.95, a 21 percent premium to issue price of ₹136 on the NSE. Meanwhile, on the BSE, it debuted at ₹165, up 21.32 percent or ₹29 from the IPO price.The ₹130.15 crore initial public offering (IPO) of Kronox Lab Sciences was open for subscription between June 3-5 at a price band in the range of ₹129-136.
The issue was subscribed 117.25 times in the 3 days of bidding. It received bids worth 98.54 crore shares as against 95.70 lakh shares on offer.
The NII portion was subscribed to 301.92 times while the QIB part was bid 89.03 times. Meanwhile, the retail investor category was subscribed 52.24 times.The issue was entirely an offer for sale of 96 lakh shares.
The was no fresh issue in this IPO.The minimum lot size for an application was 110 Shares. The minimum amount of investment required by retail investors was ₹14,960.
As per the DRHP, 15 percent of the shares in the Kronox Lab Sciences IPO were set aside for non-institutional institutional investors (NII), retail investors were allotted 35 percent of the shares, and qualified institutional buyers (QIB) were assigned 50 percent of the shares.Pantomath Capital Advisors was the book-running lead manager of the Kronox Lab Sciences IPO, while Kfin Technologies Limited was the registrar for the issue.Incorporated in 2008, Kronox Lab Sciences Limited is a manufacturer of high-purity specialty fine chemicals for diverse end-user industries. The company's High Purity Specialty Fine Chemicals are used in various applications such as manufacturing APIs, pharmaceutical formulations, scientific research, nutraceuticals, biotech applications, agrochemical formulations, personal care products, metal refineries, and animal health products.The company offers a wide range of over 185
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