Kronox Lab Sciences IPO sees strong demand

5 Jun 2024 , 08:23 AM

On the second day (Day 2) of the bidding process, investors responded favourably to Kronox Lab Sciences’ initial public offering (IPO). At 5:42 PM on Tuesday, bids were received for 16,47,19,720 shares, as opposed to the 66,99,000 shares that were offered. The IPO has received bidding for 24.59 times the subscription amount, till now.

The non-institutional investor (NII) category received 52.94 times the subscription, while the retail category received 24.55 times the subscription. The QIB category was reserved 3.39 times over.

The IPO’s price range is set at ₹129–136 per share. Public subscriptions for the IPO began on June 3 and will end on June 5. The listing on the BSE and NSE will happen on June 10, and the IPO allotment is probably going to be finished on June 6.

The firm will not get any proceeds from the ₹130.15 Crore IPO; instead, its promoters, Joginder Singh Jaswal, Ketan Ramani, and Pritesh Ramani, are offering up to 95,70,000 shares for sale. Six anchor investors contributed a total of ₹39.05 Crore to Kronox Lab Sciences.

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