Kronox Lab Sciences was incorporated on November 18, 2008. The company manufactures high-purity specialty fine chemicals for diversified end-user industries. Its chemicals are used mainly as reacting agents and raw materials in the manufacturing of Active Pharmaceutical Ingredients (APIs); excipients in pharmaceutical formulations; reagents for scientific research and laboratory testing; ingredients in nutraceutical formulations; process intermediates and fermenting agents in biotech applications; ingredients in agrochemical formulations; ingredients in personal care products; refining agents in metal refineries; and ingredients in animal health products, among others.
| Bidding Dates |
|---|
| 03 Jun 2024 - 05 Jun 2024 |
| Subscription |
|---|
| 118.22x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,190 | 1 | 13 | 110 | 9.6 M | ₹129 - ₹136 | 74.21 % | ₹1234.5 M - ₹1301.5 M | RHP DOC |
Kronox Lab Sciences IPO SUBSCRIPTION STATUS
05 Jun '24Kronox Lab Sciences IPO overall subscription rate was 118.22 times the total available shares
Kronox Lab Sciences IPO retail subscription rate was 55.72 times in the retail segment
Kronox Lab Sciences IPO non-institutional investor subscription rate was 302.99 times in the non-institutional investor category
Kronox Lab Sciences IPO Qualified Institutional Bidder subscription rate was 89.03 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
05 Jun 2024 (Day 3) | 55.72x | 302.99x | 89.03x |
04 Jun 2024 (Day 2) | 24.55x | 52.94x | 3.39x |
03 Jun 2024 (Day 1) | 13x | 19.97x | 1.11x |
Kronox Lab Sciences FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 154.7 | 676.9 | 153.1 | 42.2 | 30.2% |
| 9MFY23 | 140.9 | 741.0 | 174.7 | 92.5 | 24.1% |
| FY23 | 166.2 | 955.8 | 196.7 | 112.7 | 23.0% |
| FY22 | 136.3 | 822.5 | 90.2 | 53.1 | 24.0% |
| FY21 | 97.3 | 624.6 | 113.1 | 97.4 | 23.7% |
Kronox Lab Sciences IPO SUBSCRIPTION STATUS DETAILS
Kronox Lab Sciences had 9.6 M shares on offer
Kronox Lab Sciences IPO offer price was in the range ₹129 - ₹136
Kronox Lab Sciences IPO minimum Investment was ₹14190
Kronox Lab Sciences IPO issue size was ₹ 1234.5 M - ₹ 1301.5 M
Kronox Lab Sciences had a minimum lot size of 110 Shares per application
Kronox Lab Sciences NUMBER OF SHARES ON OFFER
Kronox Lab Sciences IPO IMPORTANT DATES
| Issue Open Date | 03 Jun 2024 |
| Issue close Date | 05 Jun 2024 |
| Allotment Date | 06 Jun 2024 |
| Refund Date | 07 Jun 2024 |
| Demat Account Credit Date | 07 Jun 2024 |
| Listing Date | 10 Jun 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Kronox Lab Sciences Allotment Status | Exchange |
Kronox Lab Sciences IPO subscription opened on 03 Jun 2024, and closed on 05 Jun 2024
IPO allotment for Kronox Lab Sciences was finalized on Thursday, 06 Jun 2024
IPO listing for Kronox Lab Sciences was on NSE and BSE on Monday, 10 Jun 2024
Kronox Lab Sciences IPO LISTING GAINS
| Issue Price (adjusted) | 136.0 |
| Listing Open Price | 164.9 |
| Listing Close Price | 159.3 |
| Listing Gain% | 21.3% |
| Current Gain% | 26.7% |
Kronox Lab Sciences Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kronox Lab Sciences Ltd. | 172.3 | 639.2 | 23.2 | 2.8 | 6.3 | 23.8 | 21.7 | 106.4 | 3.6 | 27.7 | 8.6 | 7.4 | 8.2 |
| Pidilite Industries Ltd. | 1692.8 | 172291.5 | 65 | 3 | 11.2 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2571.7 | 76231.6 | 35.3 | 0.7 | 4.5 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4496.5 | 49394.1 | 85.5 | 14.6 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 760.4 | 38365.3 | 48 | 1.6 | 7.7 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1627.9 | 21604.3 | 91.9 | 2.7 | 17.7 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Kronox Lab Sciences IPO Reports
Kronox Lab Sciences INFORMATION ON IPO ISSUE
About Kronox Lab Sciences
Kronox Lab Sciences was incorporated on November 18, 2008. The company manufactures high-purity specialty fine chemicals for diversified end-user industries. Its chemicals are used mainly as reacting agents and raw materials in the manufacturing of Active Pharmaceutical Ingredients (APIs); excipients in pharmaceutical formulations; reagents for scientific research and laboratory testing; ingredients in nutraceutical formulations; process intermediates and fermenting agents in biotech applications; ingredients in agrochemical formulations; ingredients in personal care products; refining agents in metal refineries; and ingredients in animal health products, among others.
Object of the Issue
- To carry out the offer for sale of up to 95,70,000 equity shares by the promoter selling shareholders
- To achieve the benefits of listing the equity shares on the stock exchanges
Kronox Lab Sciences - PROMOTERS
| Name |
|---|
| Jogindersingh Jaswal |
| Ketan Ramani |
| Pritesh Ramani |
Kronox Lab Sciences Book Running Lead Manager
Pantomath Capital Advisors Private Limited
kronox.ipo@pantomathgroup.com
Kronox Lab Sciences Registrar to the Offer
KFinTechnologies Private Limited
klsl.ipo@kfintech.com
Kronox Lab Sciences Strengths
Wide range of products
The company manufactures a broad range of high-purity specialty fine chemicals belonging to the family of citrates, carbonates, phosphates, acetates, sulfates, EDTA derivatives, chlorides, hydroxides, bromides, nitrites, and nitrates
Long standing relationships
The company has served more than 592 customers in the last three financial years and during the nine-month period ended December 31, 2023, of which 141 customers, amounting to 23.8% of total customers, placed repeat orders
High entry and exit barriers
The company manufactures and markets high-purity specialty fine chemicals, which involve multi-step production and purification processes, and the products are measured against established domestic and international standards and stringent specifications of customers
Zero debt company
The company has a track record of operations of over a decade and has a robust balance sheet and cash flow position. Its positive operating cash flows, coupled with a zero-debt position, enable it to fund strategic initiatives, pursue opportunities for growth, and better manage unanticipated cash flow variations
Kronox Lab Sciences Risks
Dependent on few customers
The company's top 20 products contributed 60.5% and 70.6% of the revenue for 9MFY24 and FY23, respectively. Any change in demand for these products from one of those customers could significantly affect the revenues
Dependent on few pharma industry
The majority of sales of the company's products are concentrated in industries such as pharmaceuticals and laboratory testing. Any change in demand or changes in application or processes by the customers in these industries may lead to a loss of revenues and profits
Relatively small company
The size of the company is relatively small in terms of revenue from operations when compared with other industry players and listed peers. Furthermore, it has a negligible market share in the chemical industry
IPO FAQs
This IPO consists of an offer for sale of up to Rs 130.2 crore, of 9,570,000 shares.
The promoters of the company are Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 129.0 - 136.0.
The IPO application opens on Jun 03, 2024 and closes on Jun 05, 2024.
The minimum lot size for the IPO is 110. The maximum lot size for the IPO is 1430.
For all category investors, the minimum application amount for this IPO is Rs. 14,190.0, the maximum value for this IPO is Rs 194,480.0.
This IPO will be allotted on Jun 06, 2024.
The refund will be credited to your account on Jun 07, 2024.
The allotted shares will be credited to your demat on Jun 07, 2024.
Kronox Lab Sciences Ltd.’s shares listed on the stock exchanges on Jun 10, 2024.