Kronox Lab IPO listed @ Rs. 164.95

June 10, 2024 admin Leave a reply Post Comment

Kronox Lab Sciences IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Table of Contents

• GMP
• Review
• Subscription
• Allotment

What is the business of Kronox Lab Sciences?

Kronox Lab Sciences manufactures High Purity Speciality Fine Chemicals for diversified end user industries. Its High Purity Speciality Fine Chemicals are used mainly as (i) reacting agents and raw material in the manufacturing of Active Pharmaceutical Ingredients (APIs); (ii) excipients in pharmaceutical formulations; (iii) reagents for scientific research and laboratory testing; (iv) ingredients in nutraceuticals formulations; (v) process intermediates and fermenting agents in biotech applications; (vi) ingredients in agrochemical formulations; (vii) ingredients in personal care products; (viii) refining agents in metal refineries; and (ix) ingredients in animal health products, amongst others. Its 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 select cases. The company manufactures High Purity Speciality Fine Chemicals of various grades in particle sizes ranging from 10 mesh to 100 mesh. It believes that its focus on product development, diversity in product offerings, meeting quality standards and customer specifications and continuous process improvement has led to repeat orders from the customers over the years.
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.

In addition to the manufacturing of products in accordance with various domestic and international standards, the company also undertakes custom manufacturing to achieve high levels of purity, as specified by the client, having different purity levels than the prescribed industry standards. Custom manufacturing requires deep domain knowledge, expertise and understanding of the characteristics of each chemical and its compounds, including decreasing the level of existing impurities and the processes to be deployed to reach the desired level of purity.

The company has three (3) Manufacturing Facilities situated at Vadodara in Gujarat are close to the seaports of Mundra, Kandla, Hazira and Nhava Sheva. Its Manufacturing Facilities are cumulatively spread across 17,454 sq. mtrs.and as on December 31, 2023, have an aggregate installed capacity of 7,242 TPA. Its Unit I/II hold certifications such as, FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, ISO 45001:2018. Further, it has also obtained certifications such as Kosher, Halal, GMP and GLP for some of its products manufactured at Unit I.

For more information, click www.kronoxlabsciences.com

Kronox Lab Sciences IPO GMP, Particulars & Guidance

Kronox Lab Sciences IPO Guidance
Kronox Lab Sciences manufactures High Purity Speciality Fine Chemicals for diversified end user industries. Its High Purity Speciality Fine Chemicals are used mainly as (i) reacting agents and raw material in the manufacturing of Active Pharmaceutical Ingredients (APIs); (ii) excipients in pharmaceutical formulations; (iii) reagents for scientific research and laboratory testing; (iv) ingredients in nutraceuticals formulations; (v) process intermediates and fermenting agents in biotech applications; (vi) ingredients in agrochemical formulations; (vii) ingredients in personal care products; (viii) refining agents in metal refineries; and (ix) ingredients in animal health products, amongst others
Size: The size of the IPO is just Rs. 130.15 crore and if we deduct the portion for Anchor investors, the net size is very very small. Retail portion is just Rs. 45.55 crore/ 3349500 shares and with just 30450 applications, retail portion may get one time subscribed. HNI portion is just Rs. 19.52 crore and hence huge oversubscription in both the categories are possible.
Financial Snapshot. The company has shown steady growth in the topline and bottomline during last 3 years and we donot see any window-dressing in the financials. The shares at the upper price band are offered at PE multiple of just 31.63 in comparison of much high valuation among peer-group companies. The lead manager for this IPO, Pantomath Capital Advisors Pvt ltd has impressive track-record. In nut shell, we expect huge oversubscription and consequently higher interest costs for HNIs and also high premium in the grey market. Chances of allotment will be tough and yet you must take chance and Apply.

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Kronox Lab Sciences IPO GMP

Kronox Lab Sciences IPO GMP today details

Kronox Lab Sciences IPO GMP today, Details, Guidance, Subscription Status, allotment