June 3, 2024
New Delhi, India
Kronox Lab Sciences IPO
Kronox Lab Sciences Limited has launched its initial public offering (IPO) today, aiming to raise ₹130.15 crore through a complete offer for sale (OFS). The IPO has seen a robust response, being fully subscribed within half an hour of opening.
Strong Grey Market Premium (GMP)
Market observers report that shares of Kronox Lab Sciences are trading at a premium of ₹83 in the grey market. This high GMP indicates strong investor interest and positive market sentiment towards the IPO.
Key Details of Kronox Lab Sciences IPO
1. IPO Price Band:
- The price band for the IPO is set between ₹129 to ₹136 per equity share.
2. Subscription Period:
- The IPO opened on June 3, 2024, and will remain open for bidders until June 5, 2024.
3. IPO Size:
- The total issue size is ₹130.15 crore, offered entirely as an OFS, meaning there will be no immediate impact on the company’s balance sheet.
4. Lot Size:
- Investors can bid in lots of 110 shares.
5. Subscription Status:
- As of 12:15 PM on the first day, the IPO was subscribed 3.84 times.
- Retail Portion: Subscribed 5.59 times.
- NII Segment: Subscribed 4.88 times.
6. Allotment Date:
- The basis of allotment is expected to be finalized on June 6, 2024.
7. Listing Details:
- The shares are proposed to be listed on both BSE and NSE.
- Under the ‘T+3’ listing rule, the IPO is expected to debut on the stock exchanges on June 10, 2024.
8. IPO Registrar:
- KFin Technologies Limited is the official registrar for the public issue.
Should You Apply?
Given the strong GMP and the rapid subscription rate, the Kronox Lab Sciences IPO appears to be attracting significant investor interest. The high demand in both retail and NII segments suggests confidence in the company’s market potential and growth prospects. However, investors should consider their financial goals, risk tolerance, and the current market conditions before making a decision.
Conclusion
The Kronox Lab Sciences IPO has made a strong start, with high demand reflected in both the subscription figures and the grey market premium. Investors looking for opportunities in the specialty chemicals sector might find this IPO appealing, but it is essential to conduct thorough research and consider personal investment strategies.
For more details and updates, visit the Kronox Lab Sciences website.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
