Kronox Lab IPO opens today

3 Jun 2024 , 12:57 PM

Kronox Lab Sciences is launching its IPO with a total issue size of Rs 130.15 crores, entirely through an offer for sale of 0.96 crore shares. The IPO is open for subscription from today, June 3, 2024, and close on June 5, 2024. The allotment of shares is expected to be finalized on June 6, 2024, with the listing scheduled for June 10, 2024, on both the BSE and NSE.

At the time of writing, on Day 1 of subscription, the retail investors portions subscribed to 4.67 times their reserved portion, followed by non-institutional investors at 3.86 times. Qualified institutional buyers (QIBs) showed tepid interest, subscribing to 0.01 times.

The price band for the IPO is set between ₹129 and ₹136 per share. Investors are required to apply for a minimum lot size of 110 shares, making the minimum investment for retail investors ₹14,960. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,540 shares), amounting to ₹209,440. For large non-institutional investors (bNII), the minimum investment is 67 lots (7,370 shares), totaling ₹1,002,320.

The IPO will offer a total of 6,699,000 shares, with allocations as follows: 1,914,000 shares (28.57%) for Qualified Institutional Buyers (QIBs), 1,435,500 shares (21.43%) for Non-Institutional Investors (NIIs), and 3,349,500 shares (50.00%) for Retail Individual Investors (RIIs). 

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