Kronox Lab Sciences IPO subscribed 24.63x on Day 2

On the 2nd day of bidding, i.e., June 04, 2024, the Kronox Lab Sciences IPOc witnessed an increased interest from investors. Kronox Lab Sciences IPO offers 66,99,000 shares. 19,14,000 (28.57%) to QIB, 14,35,500 (21.43%) to NII, 33,49,500 (50.00%) to RII. 30,450 RIIs will receive a minimum of 110 shares, and 310 (sNII) and 621 (bNII) will receive a minimum of 1,540 shares. (in case of oversubscription).

Kronox Lab Sciences has appointed Pantomath Capital Advisors Pvt Ltd as the book-running lead manager, while Kfin Technologies Limited is the registrar for the issue.

Day Wise Subscription

On the 2nd day of subscription, i.e., June 04, 2024, Kronox Lab Sciences IPO subscribed 24.63x. The public issue subscribed 24.63x in retail, 3.39x in QIB, and 52.97x in NII.

Grey Market Premium

Kronox Lab Sciences IPO’s last GMP is ₹50. With a price band of ₹136.00, Kronox Lab Sciences IPO’s estimated listing price is ₹186 (cap price + today’s GMP). The expected percentage gain/loss per share is 36.76%.

About Kronox Lab Sciences Limited

Kronox Lab Sciences Ltd. (KLSL) is a manufacturer of high-purity speciality fine chemicals. Its products comply with reagents, pharmacopoeia, and various food-grade standards used in the pharmaceutical, nutraceutical, veterinary, food, biotech, chemical analysis and research, metallurgy, personal care, and other speciality markets.

The company’s product groups include acetates, carbonates, chlorides, citrates, hypophosphates, nitrates, nitrites, phosphates, sulphates, and other ultra-pure fine chemicals.

The company’s products are manufactured in accordance with industry standards like IP, BP, EP, JP, USP, FCC, LR, AR, GR and ACS, in addition to custom manufacturing specifications, which differ from the industry standards required by its customers in 10 mesh to 100 mesh. Its range of more than 185 products spanning across the family of phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, among others, are supplied to customers in India and more than 20 countries globally.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.