Kronox Lab Sciences made a noteworthy debut on the stock market, showcasing a robust performance.
The company’s shares were listed at Rs 165 on the NSE, marking a premium of 21 percent.
Simultaneously, on the BSE, the shares witnessed a gain of 21.32 percent.
Notably, the IPO’s price band was set at Rs 136.
Post-Listing Performance
Despite the promising start, the company’s share prices experienced a slight downturn,
declining by over 2 percent to Rs 156.80.
IPO Details
The IPO was available for investor participation from June 3 to June 5. The price band for the IPO was fixed at Rs 129 to Rs 136 per share, with a lot size of 110 shares.
Investors were required to invest a minimum of Rs 14,960. The size of the IPO stood at Rs 130.15 crore, with the company issuing 96 lakh fresh shares.
Exceptional Subscription
The IPO garnered substantial investor interest, witnessing over 100 times subscription within three days.
Notably, on the third day, the subscription peaked at 117.25 times.
Retail investors showed significant interest with a subscription of 54.24 times, while non-institutional investors demonstrated overwhelming interest with a subscription of 301.92 times.
Subscription figures on the first and second days stood at 7.91 times and 24.80 times, respectively.
Anchor Investor Involvement
Ahead of the IPO, the company raised Rs 39.05 crore from anchor investors on May 31.
This resulted in the promoters’ stake increasing from 99.98 percent to 74.21 percent post-IPO.
