New Delhi: The initial pubic offering (IPO) space is live and vibrant and a number of companies are in the process of getting themselves listed on the stock exchanges. One of them is Kronox Lab Sciences IPO. While the allotment is already over, the company is all set to list on exchanges on Monday, June 10, 2024. Needless to say, all those investors who have successfully bid for shares would be very keen to know how their money is going perform. And for that, they would be keeping an eye on chemical company Kronox Lab Sciences IPO GMP. This is a grey market premium and there is nothing official about it and it is merely a weather vane about which way the issue may be headed.
Kronox Lab Sciences IPO GMP
Kronox Lab Sciences IPO has received a very strong response from investors on expectations that the listing day will bring a quite a windfall. Kronox Lab Sciences IPO GMP has been hovering around the Rs 33 mark, according to investorgain.com and that may well be hinting that the share may list at a price of Rs 169 on Monday. Notably, Kronox Lab Sciences IPO price was Rs 136. However, investors should know that the highest GMP listed by investorgain.com was Rs 82 and the lowest level it had hit was Rs 30. The volatility could have been attributed to the market fluctuations during the general elections results announcements in India recently.
Kronox Lab Sciences IPO GMP Allotment
The allotment was finalised on June 6, which was a Thursday and would have been credited to the winning bidders accounts by Friday itself. Of course, those who did not get lucky and failed to get any shares allotted, will be looking for a refund of their money post haste and the process is always set in motion immediately. And how well did the subscription do?
Kronox Lab Sciences IPO subscription status
While the first day of subscription was June 3, the last day was June 5. Participation was high from all segments including NIIs, QIBs, and also retail investors.
The non-institutional investors (NIIs) response was registered at 301.92 times, qualified institutional buyers (QIBs) was at 89.03 times, and the retail investors came in third at 54.23 times. Overall, Kronox Lab Sciences IPO subscription was a high 117.25 times. Clearly, with such a big demand, the expectations are quite high from the company.
Investors should also note another important point. The IPO has no fresh infusion and it is only an offer-for-sale (OFS). This includes 95.7 lakh equity shares and those shareholders who are offloading their stakes will get the issue proceeds. These are the promoters: Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani.
About Kronox Lab Sciences
Founded in 2008, Kronox Lab manufactures specialised chemicals used across a number of segments: pharmaceutical formulations, nutraceuticals, APIs, agrochemical formulations, metal refineries, scientific research, personal care products, and even animal health products.
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Kronox Lab Sciences IPO GMP today: While allotment process has been successfully carried out, the company’s listing has been slated for tomorrow. Check grey market premium. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
