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Kronox lab sciences IPO to list on June 10 with expected 24% premium


Kronox Lab Sciences IPO is set to list on Monday, June 10. The IPO allotment was completed on June 6, and shares were credited to demat accounts on June 7. The IPO received a strong subscription response, with a grey market premium (GMP) of ₹33, indicating a potential listing price of ₹169 per share.

The speciality chemical company’s IPO subscription period ran from June 3 to June 5, garnering significant interest from all investor segments: non-institutional investors (NIIs) at 301.92 times, qualified institutional buyers (QIBs) at 89.03 times, and retail investors at 54.23 times. Overall, the IPO was subscribed 117.25 times. The issue allocation was divided into 50% for QIBs, 35% for retail investors, and 15% for NIIs, with a minimum bid of 110 shares.

Kronox Lab Sciences, founded in 2008, manufactures high-purity speciality fine chemicals for various industries, including pharmaceuticals, nutraceuticals, agrochemicals, personal care, and more. The IPO’s grey market premium of ₹33 suggests a listing price of ₹169, a 24.26% increase from the IPO price of ₹136.

Despite recent market volatility and a downward trend in GMP, industry experts, anticipate a decent listing due to the company’s strong fundamentals and high subscription rate. The IPO consists solely of an offer-for-sale (OFS) of 95.7 lakh equity shares, with promoters Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani selling 31.9 lakh shares each.

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