Incorporated in 2008, Kronox Lab Sciences Limited is a manufacturer of high-purity speciality fine chemicals for diverse end-user industries. The company’s High Purity Specialty Fine Chemicals are used in various applications such as manufacturing APIs, pharmaceutical formulations, scientific research, nutraceuticals, biotech applications, agrochemical formulations, personal care products, metal refineries, and animal health products.
The company offers a wide range of over 185 products, including phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, gluconate, and others. These products are supplied to customers in India and more than 20 countries worldwide.
The company exports its products to countries such as United States, Argentina, Mexico, Australia, Egypt, Spain, Turkey, United Kingdom, Belgium, United Arab Emirates, China, among others.
The company has three manufacturing facilities in Vadodara, Gujarat, close to the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. The facilities cover 17,454 sq. m. and have an installed capacity of 7,242 TPA as of December 31, 2023. Unit I/II holds FSSC 22000 (Version 5), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. Additionally, some products manufactured at Unit I have obtained Kosher, Halal, GMP, and GLP certifications.
As of December 31, 2023, the company is conducting research and development on 122 products.
The company has served over 592 customers in the past three years. By December 31, 2023, 141 customers of the total, placed repeat orders.
As of December 31, 2023, the company employees 212 people at various levels.
Kronox Lab Sciences IPO – Details
| IPO Opening Date | 03 June 2024 |
| IPO Closing Date | 05 June 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total: 95,70,000 Shares Worth ₹130.15 Crore Offer For Sale: 95,70,000 Shares Worth ₹130.15 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹129 – ₹136 |
| Market Lot | 110 Shares |
| Min Order | 110 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 35% |
| Retail Shares Offered | 15% |
Kronox Lab Sciences IPO – Date Schedule
| IPO Open Date | 03 June 2024 |
| IPO Close Date | 05 June 2024 |
| Basis of Allotment Date | 06 June 2024 |
| Initiation of Refund | 07 June 2024 |
| Credit of Shares to Demat Account | 07 June 2024 |
| IPO Listing Date | 10 June 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 05, 2024 |
Kronox Lab Sciences IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 110 | ₹14,960 |
| Retail (Max) | 13 | 1,430 | ₹1,94,480 |
| S-HNI (Min) | 14 | 1,540 | ₹2,09,440 |
| S-HNI (Max) | 66 | 7,260 | ₹9,87,360 |
| B-HNI (Min) | 67 | 7,370 | ₹10,02,320 |
Competitive Strengths
- Wide range of products finding applications in diversified end user industries.
- Long standing relationships with customers.
- High entry and exit barriers due to long customer approval cycles and strict product standards.
- Focus on R&D and quality control.
- Zero debt company with strong and consistent financial performance.
- Strategically located manufacturing facilities providing supply chain efficiencies.
- Experienced promoters and senior management with extensive domain knowledge.
Company Promoters
- Jogindersingh Jaswal
- Ketan Ramani
- Pritesh Ramani
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 63.23 | 50.01 | 9.73 | 0.01 |
| 31 March 2022 | 83.34 | 64.98 | 13.62 | 0.64 |
| 31 March 2023 | 97.49 | 75.17 | 16.61 | – |
| 31 December 2023 | 68.43 | 48.22 | 15.46 | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 25.66% |
| ROCE | 33.15% |
| RoNW | 25.66% |
| P/BV | 8.37 |
| PAT Margin (%) | 22.6 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 4.48 | 5.56 |
| P/E (x) | 30.37 | 24.47 |
Object Of The Issue (Kronox Lab Sciences IPO Objectives)
- Carry out the Offer for Sale of up to 95,70,000 Equity Shares by the Promoter Selling Shareholders; and
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges. Further, the Company expects that the proposed listing of the Equity Shares will enhance the visibility and brand image, provide liquidity to its existing Shareholders, and provide a public market for Equity Shares in India.
Kronox Lab Sciences IPO Peer Comparison
Go Digit General Insurance IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Tatva Chintan Pharma Chem Limited | 57.57 |
| 2 | 10 | Tanfac Industries Ltd. | 39.15 |
| 3 | 10 | Neogen Chemicals Ltd | 77.55 |
| 4 | 1 | Sigachi Industries Limited | 46.64 |
| 5 | 10 | DMCC Speciality Chemical Limited | 116.57 |
Kronox Lab Sciences IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 74.21% |
Kronox Lab Sciences IPO Prospectus
Company Contact Information
| Kronox Lab Sciences Limited Block No. 353, Village Ekalbara, Padra, Vadodara-391440 Phone: +91 26 6224 4077/88 Email: cs@kronoxlabsciences.com Website: https://www.kronoxlabsciences.com/ |
Kronox Lab Sciences IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: klsl.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Kronox Lab Sciences IPO Lead Manager(s)
| 1. Pantomath Capital Advisors Pvt Ltd |
Kronox Lab Sciences IPO FAQs
| What is Kronox Lab Sciences IPO? Kronox Lab Sciences IPO is a main-board IPO. The issue is priced at ₹129 to ₹136 per equity share. The IPO is to be listed on BSE & NSE. |
| When Kronox Lab Sciences IPO will open? The IPO is to open on 03 June 2024 for QIB, NII, and Retail Investors. |
| What is Kronox Lab Sciences IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Kronox Lab Sciences IPO? You can apply Kronox Lab Sciences IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Kronox Lab Sciences IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Kronox Lab Sciences”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Kronox Lab Sciences IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Kronox Lab Sciences“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Kronox Lab Sciences IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Kronox Lab Sciences”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Kronox Lab Sciences IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Kronox Lab Sciences”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Kronox Lab Sciences IPO Size? Kronox Lab Sciences IPO size is ₹130.15 Crore. |
| What is Kronox Lab Sciences IPO Price Band? Kronox Lab Sciences IPO Price Band is ₹129 to ₹136. |
| What is Kronox Lab Sciences IPO Minimum and Maximum Lot Size? The minimum bid is 110 Shares with ₹14,960 amount while the maximum bid is 1,430 Shares with ₹1,94,480. |
| What is the Kronox Lab Sciences IPO Allotment Date? Kronox Lab Sciences IPO allotment date is 06 June 2024. |
| What is the Kronox Lab Sciences IPO Listing Date? Kronox Lab Sciences IPO listing date is 10 June 2024. The IPO is to list on BSE and NSE. |
