New Delhi: specialty chemical company Chronox Lab Sciences On Wednesday, it said it has fixed a price band of Rs 129-136 per share for its shares. Initial share sale opening for Public Membership According to the red herring prospectus (RHP), the three-day initial public offering (IPO) will end on June 5 and bidding for anchor investors will open for a single day on May 31.
The proposed issue is entirely an Offer-for-Sale (OFS) of Rs 95.7 lakh. common share Promoted by Joginder Singh Jaswal, Ketan Ramani and Pritesh Ramani.
The IPO size is estimated at Rs 130.15 crore at the upper end of the price band.
Vadodara-based Cronox is a manufacturer of specialty fine chemicals. Its products are used in diverse industries such as pharmaceutical formulations, active pharmaceutical ingredients, biotech, scientific Research & testing, personal care, agro chemicals, animal health and metallurgy etc.
There are three in it manufacturing facilities and a research, development and testing (RDT) laboratory in Vadodara, Gujarat. Additionally, the company has acquired land in Dahej, Gujarat to set up a new manufacturing plant. It exports to over 20 countries, with major exports being to the US, UK, Mexico, Australia and Egypt, etc.
Half of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent of share capital for investors. Non-institutional investorsFurther, investors can bid for a minimum of 110 equity shares and in multiples of 110 equity shares thereafter.
Pantomath Capital Advisors is the sole book-running lead manager. The equity shares of the company are proposed to be listed on BSE and NSE.
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