Kronox Lab Sciences IPO: Check Issue Date, Price, Lot Size & Company Financial

Q: When will Kronox Lab Sciences Ltd's IPO open for subscription?

The IPO subscription window will open on June 3, 2024 .

IPO Details

Bidding Dates

03 Jun '24 - 05 Jun '24

Minimum Investment

₹14,960 / 1 Lot ( 110 Shares )

Price Range

₹129 - ₹136

Maximum Investment

₹1,94,480 / 13 Lot ( 1430 Shares )

Retail Discount

To be announced

Issue Size

₹130.15 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

Kronox Lab IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 3, 2024

IPO Closing Date

Jun 5, 2024

Basis of Allotment

Jun 6, 2024

Initiation of Refunds

Jun 7, 2024

Credit of Shares to Demat

Jun 7, 2024

IPO Listing Date

Jun 10, 2024

Cut-off time for UPI mandate confirmation

Jun 5, 2024

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Jun 3, 2024	1.11x	20.02x	13.16x	11.19x
Day 2Jun 4, 2024	3.39x	52.96x	24.59x	24.61x
Day 3Jun 5, 2024	89.03x	301.91x	54.23x	117.25x

IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	89.03
Non-Institutional Buyers	301.91
Retail Investors	54.23
Total	117.25

About Kronox Lab Sciences Limited

Kronox Lab Sciences Limited specialises in the manufacturing of High-Purity Specialty Fine Chemicals catering to diverse end-user industries. The company adheres to industry standards such as IP, BP, EP, JP, USP, FCC, LR, AR, GR, and ACS while also offering custom manufacturing specifications as per customer requirements.

With a product range exceeding 185 items, spanning across phosphate, sulfate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, and more, Kronox Lab Sciences Limited supplies its products domestically in India and to over 20 countries worldwide.

They have established an in-house research, development, and testing laboratory (RDT Laboratory) located in Unit I. The laboratory aims to adopt a performance-oriented approach utilising advanced equipment and systems. Staffed with 16 science graduates and post-graduates, the RDT team conducts various tests to ensure product quality aligns with customer requirements and industry standards.

Kronox Lab Sciences Limited continuously expands its product range to meet evolving demands in end-user industries. Over recent periods, they have consistently manufactured and sold a substantial number of products, reflecting their commitment to product development and customer satisfaction.

Industry Outlook:

Industrial production shows a promising recovery, growing 5.1% in FY23 and surpassing pre-pandemic levels by 2.0%, indicating a sustained but gradual economic rebound.
Recent trends suggest consistent growth, with April and June 2023 witnessing increases of 4.2% and 5.3%, respectively, driven by improved economic activities and favourable conditions.

Kronox Lab IPO Details

Kronox Lab Sciences IPO Dates

Kronox Lab Sciences IPO is open from June 3, 2024, to June 5, 2024. The IPO will be listed on BSE and NSE.

Kronox Lab Sciences IPO Price Band

Kronox Lab Sciences is a book built issue IPO. The price band is set at ₹129 to ₹136 per share.

Kronox Lab Sciences IPO Lot Size

The lot size for Kronox Lab Sciences Limited’s IPO is 110 shares with a minimum investment of ₹14,960.

Kronox Lab Sciences IPO Objectives

The company will not receive any proceeds from the IPO. As it is an offer for sale IPO, the selling shareholders will receive the proceeds. The company plans to allocate some of the net proceeds from the issuance to cover offer expenses.

Peer Details

The companies considered by Kronox Lab Sciences as its peers include:

Tatva Chintan Pharma Chem Limited
Tanfac Industries Limited
Neogen Chemicals Limited
Sigachi Industries Limited
DMCC Speciality Chemical Limited

How to Check the Allotment Status of the Kronox Lab Sciences Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Kronox Lab Sciences Limited

Registered office: Block No. 353, Village Ekalbara, Padra, Vadodara 391 440, Gujarat, India
Phone: +91 26 6224 4077/88
E-mail:cs@kronoxlabsciences.com

IPO Financials

Particulars	For the nine Months Period Ended December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Total Revenue (in ₹ million )	684.38	974.98	833.40	632.36
Profit After Tax (PAT) (in ₹ million)	154.69	166.17	136.27	97.30
Cash & Cash Equivalents (in ₹ million)	15.74	35.62	28.10	20.54
Net Worth (in ₹ million)	602.82	446.79	403.53	268.14
Debt to Equity Ratio(x)	-	-	0.02	-
Return on Equity (%)	25.66%	37.19%	33.77%	36.29%
Return on Capital Employed (RoCE) (%)	33.15%	49.86%	46.27%	51.78%
Earning Per Share (EPS)-in absolute ₹	4.17	4.30	3.49	2.40

Know before investing

Strengths

Kronox Lab Sciences Limited offers a diverse product range of over 185 High Purity Speciality Fine Chemicals, consistently selling 156 to 188 products annually, indicating product demand.
The company maintains strong customer retention, with 111 repeat clients representing 16.74% of total customers, demonstrating reliability and customer satisfaction over consecutive fiscal periods.
Extensive R&D focus led by a Chairman with over 30 years of experience, supported by 16 specialised personnel in their RDT Laboratory, underpins innovation and high-quality product development.

Risks

Kronox Lab Sciences faces risks if their products deviate from prescribed standards like IP, BP, EP, JP, USP, potentially leading to customer rejection and harming their reputation.
The company's growth strategy relies on a new manufacturing facility; failure to execute this could affect their business prospects and financial stability.
With top 20 products generating over 60% of revenue, a demand drop in these could significantly impact Kronox's financial results and cash flow stability.