Kronox Lab Sciences IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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    Post Listing Review:The scrip is listed at Rs.164.95, premium of 21.29% over the issue price of Rs.136. This listing has been in line with the expectations of the grey market players.

    Kronox Lab Sciences IPO Subscription Status: 
    Review: Flow has turned weak on Day3
    On 5 June 2024 5.00 (Day 3) (Closed)
    QIB:             89.03 T

    NII(10L+):  322.26 T
    NII (<10L) 261.22 T
    NII (Total) 301.92 T

    RII:              54.24
    T
    Total:        117.25 T
    Applications: 1528029 (50.18X)
    Amount wise Subscription: Rs. 10674.89 Crore

    What was the last GMP of Kronox Lab Sciences?   
    Premium: Rs 30
    Subject to 2 Lac application Rs. 2500
    Subject to 10 Lac application Rs 35000

    What are the promoters of Kronox Lab Sciences IPO?   
    JOGINDERSINGH JASWAL, KETAN RAMANI AND PRITESH RAMANI are the promoters of the company.

    What are the Objects of Kronox Lab Sciences IPO?

    The Objects of the Offer are to carry out the Offer for Sale of up to 96,00,000 Equity Shares.

    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 Details 
    IPO opens on  3 June 2024 
    IPO closes on  5 June 2024 
    Issue Type Book Built Issue IPO
    Issue Size 9570000 Shares /
    Rs 130.15 Crore
    * Fresh Issue
    * Offer for Sale  9570000 Shares /
    Rs 130.15 Crore
       
    Face Value per share: Rs. 10
    Price Band  Rs. 129-136
    Retail Discount  Rs 0 per share
    Employee discount  Rs.0 per share
    Retail Lot Size  110 Shares
    Listing will at  BSE, NSE
    Shares offered in Kronox Lab Sciences? Shares Rs. in Cr
    QIB (50 %)  4785000   65.08
    NII (15 %)  1435500   19.52
    RII (35 %)  3349500   45.55
    Employees 
    Total Shares  9570000 130.15
    Retail portion will be oversubscribed by  30450 Forms.
    How to apply in Kronox Lab Sciences IPO? Amount Rs.
    Min Retail Application 110 Shares     14960
    Max Retail Application  1430 Shares   194480
    Small HNI (Min) application  1540 Shares   209440
    Small HNI (Max) application 7260 Shares   987360
    Big HNI Application 7370 Shares 1002320

    What is the timetable of Kronox Lab Sciences IPO?
    IPO opens on 3 June 2024
    IPO Closes on 5 June 2024
    IPO Allotment on  6 June 2024
    Unblocking of ASBA  7 June 2024
    Credit of Shares 7 June 2024
    Listing on 10 June 2024
    Registered Office of Kronox Lab Sciences
    Block No.353, Village Ekalbara, Padra, Vadodara 391 440, Gujarat, India
    Who are the Lead Managers of Kronox Lab Sciences IPO?
    Pantomath Capital Advisors Pvt ltd
    Registrar to IPO
    Kfin Technologies ltd

    Kronox Lab Sciences IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs. in Cr Rs.in Cr Rs. %
    2021-22 63.24   9.73  2.40 36.29
    2022-23 83.34 13.63 3.49 33.77
    2022-23  97.50 16.62 4.30 37.19
    Book Value of the Share on 31.03.2023 Rs. 12.04    
    BV of the Share after the FPO Rs. ?    
    Offer Price at Cap Rs.  136    
    Kronox Lab Sciences IPO
    Ratio Analysis
    Price /EPS 31.63
    Price/Book Value Ratio 11.30
    Price/BV after IPO  ?

    How Kronox Lab Sciences IPO compares with the Peers?
    Peer Comparison.

    As on date of DRHP FV Total  PE
      Rs. Income Ratio of
        Rs. In Cr  
    Kronox 10 98   31.63
    Tatva Chintan Pharmachem 10 429   57.57
    Tanfac Industries 10 383   39.15
    Newgen Chemicals 10 691   77.55
    Sigachi Industries 1 309   46.64
    DMCC Speciality Chemicals 10 390 116.57
           
           

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

    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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