Kronox Lab Sciences IPO: Check allotment status, latest GMP and listing date

Kronox Lab Sciences is scheduled to finalise the basis of allotment of its shares on Thursday, June 06. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by Friday or over the weekend. The fine specialty chemical maker had received a strong response from the investors.
 

The IPO of Kronox Lab Sciences was open for bidding between June 03 and June 05. The Vadodara-based company had offered its shares in the fixed price band of Rs 129-136 per share with a lot size of 110 shares. The company raised a little more than Rs 130.15 crore via its primary offering, which was entirely an offer for sale of 95.70 lakh equity shares.
 

The issue saw a solid bidding and was overall subscribed 118.22 times. The quota for qualified institutional bidders (QIBs) was booked 89.03 times The quota for non-institutional investors was subscribed a whopping 302.99 times. The portions reserved for retail investors saw bidding for 55.72 times during the three-day bidding process.
 

Grey market premium (GMP) of Kronox Labs has seen a sharp correction amid the rising volatility in the listed markets. Last heard, the company was commanding a premium of Rs 40-45 per share, suggesting a listing pop of around 30-33 per cent for the investors. However, it was around Rs 80-85 apiece, when the issue had opened for bidding.
 

Kronox Lab Sciences is a manufacturer of high-purity specialty fine chemicals for diverse end-user industries. Its high purity specialty fine chemicals are used in various industries including manufacturing APIs, pharma formulations, scientific research, nutraceuticals, biotech, agrochemical, personal care , metal refineries, and animal health care.
 

Brokerage firms were mostly positive on the back of sound fundamentals, strong moats, positioning for the growth opportunities and solid relationships with customers across the globe. However, forex fluctuations, maintenance of large portfolios, regulatory issues and geopolitical tensions are key concerns for the company.
 

Pantomath Capital Advisors is the sole book running lead manager of the Kronox Lab Sciences IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with June 10 as the tentative date of listing of shares on the bourses.
 

Investors, who had bid for the issue of Kronox Lab Sciences, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Kronox Lab Sciences Ltd in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit.
 

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
 

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.
 

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.