Kronox Lab Sciences raises Rs. 39.04 crore from Anchor Investors
MUMBAI, June 2 (The CONNECT) – Speciality fine chemicals maker Kronox Lab Sciences has garnered Rs. 39.04 crores from six anchor investors ahead of its initial public offering that opens for subscription on Monday, June 3, 2024. The Vadodara-based company informed the bourses that it allocated 28,71,000 equity shares at Rs. 136 per share on May 31 to anchor investors.
The foreign and domestic institutions who participated in the anchor were Money wise Financial Services Private Ltd, Negen Undiscovered Value Fund, Chanakya Opportunities Fund I, VPK Global Ventures Fund- VPK Global Ventures Fund-Scheme I, Capri Global Capital Limited, and Minerva Emerging Opportunities Fund Limited.
No Mutual funds have applied for the total allocation of 28,71,000 equity shares allocated for the anchor investors,
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.
IPO Details: The public issue is entirely an offer-for-sale (OFS) up to 95,70,000 equity shares by Promoters.
The Company is proposing to open its initial public offering on Monday, June 3, 2024, and close on Wednesday, June 5. The price band for the Offer has been determined at Rs 129 – Rs 136 per equity share.
The IPO will fetch Rs 130.15 crore at the upper end of the price band.
Investors can bid for a minimum of 110 equity shares and in multiples of 110 equity shares thereafter.
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.
