Kronox Lab Sciences IPO day 3: GMP, review to subscription status. Apply or not?
Kronox Lab Sciences IPO day 3: The initial public offering (IPO) of Kronox Lab Sciences Limited opened on June 3 2024, and will remain open till June 5 2024. Bidders have just one day to apply for the public issue.
Notably, the book build issue has garnered a robust response from Indian primary investors in the first two days of bidding, indicating a strong market interest. As per the Kronox Lab Sciences IPO subscription status, the public issue has been booked over 24.50 times.
The grey market has also maintained its positive bias regarding Kronox Lab Sciences IPO despite the stock market crash on Tuesday. As per the stock market observers, shares of Kronox Lab Sciences Ltd are available at a premium of ₹82 in the grey market today.The grey market premium (GMP) for the Kronox Lab Sciences IPO is currently at ₹82, according to market observers.
They note that the grey market sentiment has remained consistently stable over the past two days, which is a reassuring sign for the public issue. Despite heavy selling on Tuesday, the grey market remains bullish on the Kronox Lab Sciences IPO, indicating a potential improvement in the grey market bias once there is a trend reversal in the secondary market.The Kronox Lab Sciences IPO was subscribed 24.58 times on the second day of bidding.
The issue received bids for 16,46,87,930 shares against the offered 66,99,000 equity shares at a price band of ₹129-136, as per the data available on the stock exchanges. The non-Institutional Investors Portion and Retail Portion were oversubscribed 52.94 times and 24.54 times respectively, while the Qualified Institutional Buyer Portion was subscribed 3.39 times.During the nine months ending December 31, 2023, 141 customers, representing 23.82%
. Read more on livemint.com
