IPO to open from June 3, price below Rs 150, investors happy after seeing GMP

IPO News Updates: Tomorrow, June 3, the Kronox Lab Sciences IPO opens for retail investors. The company’s IPO size is Rs. 130.15 crores. The IPO will be entirely based on offer for sale. The company will issue 96 lakh shares through IPO. Let’s know about this IPO in detail –

Foreign investors spooked again, withdrawing ₹8700 crore from the stock market

When will the IPO open?

The Cronox Lab Sciences IPO will be open from June 3 to June 5, 2024. Investors betting on the IPO on behalf of the company will be allotted shares on June 6. Whereas, Kronox IPO will be listed on BSE and SME on June 10.

What is the price?

The price band of this IPO has been fixed at Rs 129 to Rs 136 per share. The company has created one lot of 110 shares. Due to which any retail investor has to bet at least Rs 14,960. Let us tell you that retail investors will get at least 35 percent of the IPO. At the same time, a maximum of 50 percent has been reserved for eligible institutional buyers.

The promoters’ stake in the company before the IPO is 99.98 percent. Which may decrease to 74.21 percent after the IPO.

8 times subscription on first day, IPO will be open for 2 more days, dominating gray market

How is the company performing in the gray market?

According to the Investors Gain report, the company’s performance in the gray market has been excellent. The company’s IPO is trading at a premium of Rs.82. If the situation continues till the listing, the company will get Rs. Can debut at the level of 218. If we look at the gray market signals, investors can get 60 percent profit.

This company manufactures chemicals. Which is used for other industries. The company’s high quality chemicals are used in animal health products, metal refinery, personal care products, agrochemical formulations, biotech applications.

(This is not investment advice. Stock market is subject to risks. Consult experts before making any investment.)

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