Durlax Top Surface IPO Closed
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Schedule of Durlax Top Surface
| Issue open date | 19 Jun 2024 |
| Issue close date | 21 Jun 2024 |
| UPI mandate deadline | 21 Jun 2024 (5 PM) |
| Allotment finalization | 24 Jun 2024 |
| Refund initiation | 25 Jun 2024 |
| Share credit | 25 Jun 2024 |
| Listing date | 26 Jun 2024 |
| Mandate end date | 06 Jul 2024 |
| Lock-in end date for anchor investors (50%) | 24 Jul 2024 |
| Lock-in end date for anchor investors (remaining) | 22 Sep 2024 |
Note: The schedule is tentative. 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 can be checked on the registrar's website and the exchange website.
About Durlax Top Surface
Durlax Top Surface Limited’s IPO launches on June 19, 2024, with subscriptions closing on June 21, 2024. Established in 2010, Durlax Top Surface Limited, formerly Durlax Archtech Private Limited, manufactures solid surface materials in its Vapi, Gujarat facility, selling across India. The company operates through two brands, LUXOR (acrylic UV solid surfaces) and ASPIRON (modified solid surfaces), both featuring seamless designs with antibacterial and fire-retardant properties. Their products are used in residential, commercial, hospitality, healthcare, and other industries for countertops, vanities, offices, retail spaces, hotels, hospitals, and outdoor projects.
Financials of Durlax Top Surface
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹40.80 crores |
| Fresh issue | ₹28.56 crores |
| Offer for sale | ₹12.24 crores |
*All figures except EPS are in ₹ Crores
Risks
- Dependency on Third-Party Suppliers: The company does not have long-term agreements with suppliers for raw materials, and an increase in the cost or a shortfall in the availability of raw materials could harm its business, results of operations, and financial condition. The top 10 suppliers contribute a significant portion of purchases, which increases the risk.
- Entry into New Business Line: The company is entering a new line of business involving the assembly of Solar Hybrid Inverters through its subsidiary. Lack of prior experience in this field could adversely affect the business if operations are not managed properly.
- Revenue Concentration: A significant portion of the company’s revenue is derived from the states of Rajasthan, Haryana, Uttar Pradesh, and Delhi. Any adverse developments in these states could adversely affect the business.
Note:
- The above schedule is tentative. 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 25, 2024, on the Registrar’s website and the NSE website.