Vadodara based Kronox Lab Sciences ("Kronox" or "Company"), manufacturer of high-purity speciality fine chemicals, has garnered Rs. 39.04 crores from anchor investors ahead of its initial public offering that opens for public subscription on Monday, June 3, 2024. The company informed the bourses that it allocated 28,71,000 equity shares at Rs. 136 per share on Friday, May 31, 2024, to anchor investors.
Six foreign and domestic institutions who participated in the anchor were Money wise Financial Services Private Ltd, Negen Undiscovered Value Fund, Chanakya Opportunities Fund I, VPK Global Ventures Fund- VPK Global Ventures Fund-Scheme I, Capri Global Capital Limited, and Minerva Emerging Opportunities Fund Limited.
Out of the total allocation of 28,71,000 equity shares to the anchor investors, No Mutual funds have applied for Equity Shares of the Company.
Pantomath Capital Advisors Private Limited is the sole book-running lead manager. The Company's equity shares are proposed to be listed on the BSE and NSE.
IPO Details
The public issue is entirely an offer-for-sale (OFS) up to 95,70,000 equity shares by Promoters.
The Company is proposing to open its initial public offering of Equity Shares (the "Offer") on Monday, June 3, 2024, and closes on Wednesday, June 5, 2024. The price band for the Offer has been determined at Rs 129 - Rs 136 per equity share.
The IPO will fetch Rs 130.15 crore at the upper end of the price band.
Investors can bid for a minimum of 110 equity shares and in multiples of 110 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders. |
