Kronox Lab Sciences Limited (MAINBOARD)
Jun 3, 2024 - Jun 5, 2024
| Price | ₹129 - ₹136 |
| Premium | ₹28 |
|---|---|
| Lot size | 110 |
| Allotment | Jun 6, 2024 |
| Listing | Jun 10, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 110 | 14960 | 30450 |
| sHNI | 14 | 1540 | 209440 | 311 |
| bHNI | 67 | 7370 | 1002320 | 621 |
Last Updated as on 05-Jun-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1914000 | 170409360 | 89.03 |
| HNIs | 1435500 | 433398240 | 301.91 |
| HNIs (10L+) | 957000 | 308406670 | 322.26 |
| HNIs (2-10L) | 478500 | 124991570 | 261.22 |
| Retail | 3349500 | 181640250 | 54.23 |
| Total | 6699000 | 785447850 | 117.25 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 621 | 40181 | 64.7 |
| HNIs (2-10L) | 311 | 78159 | 251.32 |
| Retail | 30450 | 1411824 | 46.37 |
| Total Application : 1530164 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹16.25 | @8% ₹18.58 | @9% ₹20.9 | @10% ₹23.22 | @11% ₹25.54 | @12% ₹27.87 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹128904 |
Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Negen Undiscovered Value Fund | 557260 | 19.41% | 7.58 |
| Chanakya Opportunities Fund 1 | 550330 | 19.17% | 7.48 |
| Minerva Emerging Opportunities Fund Limited | 550330 | 19.17% | 7.48 |
| Capri Global Capital Limited | 404360 | 14.08% | 5.50 |
| Moneywise Financial Services Private Limited | 404360 | 14.08% | 5.50 |
| VPK Global Ventures Fund-VPK Global Ventures Fund-Scheme I | 404360 | 14.08% | 5.50 |
| Total | 2871000 | 100.00% | 39.05 |
Kronox Lab Sciences IPO Details
| Issue Size | 9,570,000 shares (aggregating up to ₹130.15 Cr) |
| Offer for Sale | 9,570,000 shares of ₹10 (aggregating up to ₹130.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 37,104,000 |
| Share holding post issue | 37,104,000 |
Kronox Lab Sciences IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 25.66% | 37.19% | 33.77% |
| ROCE | 33.15% | 33.50% | 49.86% |
| RONW | 25.66% | 37.19% | 33.77% |
| EPS (basic & Diluted) | 4.17 | 4.30 | 3.49 |
| P/BV | 8.37 | ||
| P/E Pre IPO | 30.37 |
Company Financials
Kronox Lab Sciences Limited Financial Information (Restated)
Kronox Lab Sciences Limited's revenue increased by 16.99% and profit after tax (PAT) rose by 21.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 66.96 | 54.03 | 56.79 | 37.65 |
| Revenue | 68.44 | 97.50 | 83.34 | 63.24 |
| Profit | 15.47 | 16.62 | 13.63 | 9.73 |
| Net Worth | 60.28 | 44.68 | 40.35 | 26.81 |
| Reserves | 15.56 | 7.58 | 40.11 | 26.57 |
| Borrowing | 0.64 | 0.01 | ||
| Amount in ₹ Crore | ||||
About Company
Kronox Lab Sciences Limited, incorporated in 2008, is a renowned manufacturer of high-purity speciality fine chemicals catering to diverse industries including pharmaceuticals, nutraceuticals, biotech, agrochemicals, personal care, metal refineries, and animal health. The company offers over 185 products such as phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, and gluconate, serving customers in India and over 20 countries including the United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, the United Kingdom, Belgium, the United Arab Emirates, and China. Kronox operates three manufacturing facilities in Vadodara, Gujarat, with a total area of 17,454 sq. m. and an installed capacity of 7,242 TPA. Their facilities are strategically located near the seaports of Mundra, Kandla, Hazira, and Nhava Sheva, and adhere to high-quality standards with certifications like FSSC 22000, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, along with Kosher, Halal, GMP, and GLP certifications for select products. With a workforce of 212 employees, the company has a strong focus on research and development, working on 122 new products as of December 31, 2023. Kronox has successfully served over 592 customers in the past three years, with 141 customers placing repeat orders by the end of 2023.
Strength Factor
Wide Product Range and Diverse Applications: Kronox Lab Sciences Limited offers over 185 high-purity speciality fine chemicals used across various industries, including pharmaceuticals, nutraceuticals, biotech, agrochemicals, personal care, metal refineries, and animal health.
Strong Customer Relationships: The Company has built long-standing relationships with over 592 customers, with 141 placing repeat orders, demonstrating customer trust and satisfaction.
High Entry and Exit Barriers: Stringent product standards and lengthy customer approval cycles create significant entry and exit barriers, ensuring a stable market position for Kronox.
Risk Factors
Strict Industry Standards Compliance: Deviation from domestic and international industry standards can lead to product rejection by customers, potentially damaging the company's reputation.
Dependence on Third-Party Logistics: Reliance on third-party transportation and logistics providers exposes the company to risks of delays, increased costs, theft, accidents, and product loss during transit, which could negatively impact operations and financial performance.
High P/E Ratio: The Company’s P/E ratio is significantly higher than the industry average, indicating a premium valuation that might pose risks if market conditions change or if the company does not meet growth expectations.
Kronox Lab Sciences IPO Lead Manager(s)
- Pantomath Capital Advisors Pvt Ltd
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: klsl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/