Kronox Lab Sciences IPO to open on June 3; sets price band at Rs 129-136/share
image for illustrative purpose
New Delhi: Speciality chemical company Kronox Lab Sciences on Wednesday said it has fixed a price band of Rs 129-136 a share for its initial share sale opening for public subscription on June 3.
The three-day initial public offering (IPO) will conclude on June 5 and the bid for anchor investors will open for a day on May 31, according to the Red Herring Prospectus (RHP).
The proposed issue is entirely an offer-for-sale (OFS) of 95.7 lakh equity shares by promoters Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani. At the upper end of the price band, the IPO size is estimated to be Rs130.15 crore. Vadodara-based Kronox is a manufacturer of speciality fine chemicals.
Its products find application in a wide spectrum of industries for diversified uses such as pharmaceutical formulations, active pharmaceutical ingredients, biotech, scientific research and testing, personal care, agrochemicals, animal health, and metallurgy, amongst others. It has three manufacturing facilities and a Research, Development and Testing (RDT) laboratory in Vadodara, Gujarat.
