Kronox Lab Sciences Limited’s Initial Public Offering (IPO) to open on Monday, June 3, 2024, price band set at ₹129/- to ₹136/- per Equity Share

RHP Link: https://pantomath-web.s3.ap-south-1.amazonaws.com/Kronox-Lab-Sciences-Limited-RHP.pdf

Kronox Lab Sciences Limited’s Initial Public Offering to open on Monday, June 3, 2024, price band set at ₹129/- to ₹136/- per Equity Share

• Price Band of ₹129/- – ₹136/- per equity share bearing face value of ₹10/- each (“Equity Shares”)
• Bid/Offer Opening Date – Monday, June 3, 2024 and Bid/Offer Closing Date – Wednesday, June 5, 2024.
• Minimum Bid Lot is 110 Equity Shares and in multiples of 110 Equity Shares thereafter.
• The Floor Price is 12.90 times the face value of the Equity Share and the Cap Price is 13.60 times the face value of the Equity Share

Mumbai, May 29, 2024 (GNI): Vadodara based Kronox Lab Sciences (“Kronox” or “Company”), manufacturer of high-purity speciality fine chemicals, has fixed the price band of ₹129 to ₹136 per Equity Share of face value ₹10 each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of Equity Shares of the Company will open on Monday, June 3, 2024, for subscription and close on Wednesday, June 5, 2024. Investors can bid for a minimum of 110 Equity Shares and in multiples of 110 Equity Shares thereafter.

The public issue is entirely an offer-for-sale (OFS) up to 95,70,000 equity shares by Promoters.

Kronox’s High Purity Speciality Fine Chemicals portfolio has more than 185 products. The products are used mainly for applications across pharmaceuticals, nutraceuticals, biotech, animal health, scientific research, agrochemicals, personal care, amongst others. Kronox exports to more than 20 countries with major exports to USA, United Kingdom, Mexico, Australia, Egypt.

The Company has 3 manufacturing facilities and a Research, Development and Testing (“RDT”) laboratory, situated at Vadodara, Gujarat. Additionally, the Company has acquired land at Dahej, Gujarat to set up a new manufacturing plant. The Company has 122 products under various phases of research and development.

For Fiscal 2023, Kronox generated a consolidated revenue from operations amounting to ₹. 95.6 crores growing at CAGR of 23.70% over Fiscal 2021 to 2023, EBITDA of ₹ 22.0 crores and EBITDA margin of 23.01% Profit after tax of ₹ 16.6 crores with PAT margin of 17.04%. The Company’s Return on Equity (RoE) and Return on Capital Employed (RoCE) stood at 37.2% and 49.9% respectively for Fiscal 2023.

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.

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.ends GNI