Unlisted shares of Kronox Lab Sciences Ltd are trading Rs 40 higher in the grey market, expecting a strong 29.41 per cent listing gain from the public issue
Kronox Lab Sciences IPO: The initial public offering of speciality chemical company Kronox Lab Sciences, which was open for public subscription between June 3 and June 5, received a whopping response from investors with 117.25 times subscription. The allotment is likely to take place today, Wednesday. Investors will on May 21 start getting bank debit messages in the evening once they are allotted the IPO. The IPO status can be checked on registrar Kfin Technologies’s portal and the websites of BSE and NSE.
The IPO received bids for 78,54,49,390 shares against 66,99,000 shares on offer, as per NSE data. The portion for non-institutional investors fetched a whopping 301.92 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 89.03 times. The category for Retail Individual Investors (RIIs) received 54.23 times subscription.
Read More: Kronox Lab Sciences IPO garners 117.25 times subscription on closing day of offer
Kronox Lab Sciences IPO: How To Check Allotment Status
The Kronox Lab Sciences IPO allotment will likely be finalised on June 6, while its listing will take place on both BSE and NSE on June 10.
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Kronox Lab Sciences Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — https://rti.kfintech.com/ipostatus/ and check Kronox Labs Sciences IPO allotment status.
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Kronox Lab Sciences IPO GMP Today
According to market observers, unlisted shares of Kronox Lab Sciences Ltd are trading Rs 40 higher in the grey market as compared with its issue price. The Rs 40 grey market premium or GMP means the grey market is expecting a strong 29.41 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The price of the IPO was fixed at Rs 129-136 per share.
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Kronox Lab Sciences IPO: More Details
The Initial Public Offer (IPO) has an offer for sale of up to 95,70,000 equity shares.
The price range for the offer is Rs 129-136 a share.
Kronox Lab Sciences has raised Rs 39.04 crore from anchor investors. Pantomath Capital Advisors is the book-running lead manager to the offer. The company’s equity shares are proposed to be listed on the BSE and NSE.
Vadodara-based Kronox Lab Sciences is the manufacturer of high-purity speciality fine chemicals. Its high purity speciality fine chemicals portfolio has more than 185 products. The products are used mainly for applications across pharmaceuticals, nutraceuticals, biotech, animal health, scientific research, agrochemicals, and personal care, among others.
Kronox exports to more than 20 countries with major exports to the US, the UK, Mexico, Australia, and Egypt.
The company has 3 manufacturing facilities and a Research, Development and Testing (RDT) laboratory, situated in Vadodara, Gujarat. Additionally, the company has acquired land in Dahej, Gujarat to set up a new manufacturing plant.
