Kronox Lab Sciences Limited IPO

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03rd – 05th Jun 2024
10 Jun 2024
₹129 – ₹136
110 shares (₹14960)

About


Financials



Kronox Lab Sciences is launching its IPO on June 3, 2024, with the subscription period closing on June 5, 2024. The IPO is an offer for sale (OFS) of 95.70 lakh shares, amounting to ₹ 130.15 crore. Incorporated in 2008, Kronox Lab Sciences Limited specializes in manufacturing high-purity speciality fine chemicals used in various industries. The company offers over 185 products, including:

  • Phosphate
  • Sulfate
  • Acetate
  • Citrate
  • Nitrates
  • Nitrites

These products are supplied to customers in India and more than 20 countries globally. As of December 31, 2023, the company has 122 products in various research and development phases.

Note: All figures except EPS are in ₹ crores.

Risk factors

  • Dependence on Top 10 clients: The company’s top 10 customers contributed nearly 45-56% of the total revenue in the last three years. Further, the Company has not entered into any long-term agreements with its customers for purchasing its products and is subject to uncertainties in demand.
  • Limited product usage: The company’s products are supplied in limited quantities for specific use by application industries. Any reduction in the requirement of the products may result in loss of business and may affect the financial performance and condition.
  • Dependence on Pharmaceuticals: The majority of sales of the company’s products is concentrated in industries viz. Pharmaceuticals and Scientific Research and Laboratory Testing. Any change in demand or change in application or processes by the customers in these industries may lead to loss of revenues and profits.

IPO Schedule

Issue Period 3rd June to 5th June 2024
UPI Mandate Deadline Until 5 PM on the issue closing day
Allotment Finalization June 06, 2024
Refund Initiation June 07, 2024
Share Credit June 07, 2024
Listing Date June 10, 2024
Mandate end date June 20, 2024
Lock-In End Date for Anchor Investors (50%) July 06, 2024
Lock-In End Date for Anchor Investors (Remaining) September 06, 2024

Note:

  • Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
  • The allotment status will be available by June 07, 2024, on the Registrar’s website and the NSE website.