IPO News Updates: Tomorrow i.e. on June 3, Kronox Lab Sciences IPO is opening for retail investors. The size of the company’s IPO is Rs 130.15 crore. This IPO will be completely based on offer for sale. The company will issue 96 lakh shares through IPO. Let us know about this IPO in detail –
Foreign investors again gave a shock, withdrew ₹8700 crore from the stock market
When will the IPO remain open?
Cronox Lab Sciences IPO will be open from June 3 to June 5, 2024. Shares will be allotted on June 6 to the investors betting on the IPO on behalf of the company. Whereas, Cronox IPO will be listed on BSE and SME on June 10.
What is the price?
The price band of this IPO has been fixed at Rs 129 to Rs 136 per share. The company has made one lot of 110 shares. Because of which any retail investor will have to place a bet of at least Rs 14,960. Let us tell you, retail investors will get at least 35 percent of the IPO. At the same time, a maximum of 50 percent has been reserved for qualified institutional buyers.
The promoters’ stake in the company before the IPO is 99.98 percent. Which may reduce to 74.21 percent after IPO.
8 times subscription on first day, IPO will remain open for 2 more days, dominance in gray market
How is the company performing in the gray market?
According to the report of Investors Gain, the company’s performance in the gray market has been excellent. The company’s IPO is trading at a premium of Rs 82. If the situation continues till listing, the company can debut at the level of Rs 218. If we look at the signals from the gray market, investors can get a profit of 60 percent.
This company produces chemicals. Which is used for other industries. The company’s high quality chemicals are used in animal health products, metal refinery, personal care products, agrochemical formulations, biotech applications.
