Kronox Lab Sciences Limited is a company that is set to launch its Initial Public Offering (IPO) on June 3, 2024. The IPO is expected to raise ₹130.15 crores and will be open for subscription from June 3 to June 5, 2024.
Kronox Lab Sciences IPO GMP
The Kronox Lab Sciences IPO will be open for subscription from June 3 to June 5, 2024. Share allotment is expected on June 6, with a tentative listing date on the BSE and NSE set for June 10, 2024.
| IPO Date | June 3, 2024 to June 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹129 to ₹136 per share |
| Lot Size | 110 Shares |
| Total Issue Size | 9,570,000 shares, totaling up to ₹130.15 crore |
| Offer for Sale | 9,570,000 shares, totaling up to ₹130.15 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 37,104,000 |
| Shareholding post issue | 37,104,000 |
As of June, 2024, the Kronox Lab Sciences IPO GMP is hovering around ₹80-₹82. This indicates that some investors in the grey market are willing to pay ₹80-₹82 more than the IPO price per share, which is set between ₹129 and ₹136.
Kronox Lab Sciences IPO Reservation
The Kronox Lab Sciences IPO offering will be divided amongst different investor categories.
- QIB (Qualified Institutional Buyers): These are institutional investors like mutual funds, insurance companies,and foreign institutional investors. They can be allocated not more than 50% of the total shares offered in the IPO.
- Retail Investors: This category includes individual investors like you and me. Retail investors are guaranteed to receive not less than 35% of the total shares offered in the IPO.
- NII (Non-Institutional Investors) / HNI (High Net Worth Individuals): This category encompasses wealthy individuals and non-institutional investors. They can be allocated not less than 15% of the total shares offered in the IPO.
- The exact percentage allocation within each category (QIB, Retail, NII/HNI) will be determined closer to the IPO date.
Kronox Lab Sciences IPO Lot Size
Kronox Lab Sciences has set a minimum lot size of 110 shares for bids in the upcoming IPO. Investors can apply for multiples of the lot size. Below are the minimum and maximum investment amounts for different investor categories based on the IPO price band of ₹129 – ₹136 per share.
| Investor Category | Minimum Investment | Maximum Investment |
| Retail Investor | ₹14,190 | ₹1,94,480 |
| S-HNI (Small HNI) | ₹1,98,660 | ₹9,87,360 |
| B-HNI (Big HNI) | ₹9,50,730 | Not Applicable |
Important Note: The maximum investment amount for B-HNIs is not specified. This category likely caters to high net-worth individuals who can invest much larger sums.
- Investors can apply for lots of 110 shares or multiples thereof.
- The investment amount will vary depending on the applied number of lots and the IPO price per share (determined within the price band).
- Retail investors have a lower minimum investment compared to S-HNIs.
Kronox Lab Sciences IPO: Promoter Holding
The promoter holding for Kronox Lab Sciences are as follows:
Promoters:
- Jogindersingh Jaswal
- Ketan Ramani
- Pritesh Ramani
Pre-Issue Shareholding:
- The promoters currently hold 99.98% of the company’s shares before the IPO. This indicates that the company was largely owned by the founding group prior to going public.
Post-Issue Shareholding:
- After the IPO, the promoters’ stake will be diluted to 74.21%. This signifies that a significant portion of the company’s ownership will be offered to the public through the IPO process.
- The reduction in promoter holding post-IPO is a common occurrence as companies sell shares to raise capital.
- The new shareholding structure allows for public participation in the company’s ownership.
Applying for the Kronox Lab Sciences IPO
The application process for the Kronox Lab Sciences IPO:
Pre-requisites:
- Demat Account: You’ll need a demat account to hold the IPO shares if you’re allotted any.
- Trading Account: A trading account linked to your demat account is necessary to place the IPO bid.
- UPI (Unified Payments Interface): Most brokers require UPI for IPO applications for faster processing. Ensure your UPI is linked to your bank account and has sufficient funds for the IPO bid.
Steps:
- Access your online trading platform provided by your chosen broker (Zerodha, ICICI Direct, etc.).
- Locate the IPO section within the platform. It might be labelled “IPO,” “Upcoming IPOs,” or similar.
- Find the Kronox Lab Sciences IPO listing and select it.
- Specify the number of lots you wish to apply for (minimum 1 lot of 110 shares). Review the cut-off price (within the ₹129 – ₹136 range).
- Link your UPI ID for payment authorization. This might involve entering your UPI PIN or confirming the mandate through your UPI app.
- Double-check all details and confirm your IPO bid submission.