Durlax Top Surface IPO


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19th – 21st Jun 2024
26 Jun 2024
₹65 – ₹68
2000 shares (₹136000)


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


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.

Funds Raised in the IPO Amount
Overall ₹40.80 crores
Fresh Issue ₹28.56 crores
Offer for sale ₹12.24 crores

Financial Snapshot

Financial Year Ended March 2022 March 2023 March 2024
Total Assets 716.81 767.30 1055.35
Revenue 474.18 668.42 908.39
Profit After Tax 4.84 20.94 50.50
EPS 0.41 1.75 4.06

*All figures except EPS are in ₹ Crores

Risk factors

  • 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.


  • 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.