There is good news for those who invest in IPOs. Kronox Lab Sciences IPO is set to open on Monday, June 3.
Investors can participate in this IPO from June 3 to June 5, Wednesday.
The company aims to raise Rs 130.15 crore through this IPO and has established a price band for its shares.
Notably, the company is showing strong prospects in the gray market, indicating a potential for good earnings for investors.
Price Band and Investment Details
Kronox Lab Sciences has set the price band for its Rs 130.15 crore IPO between Rs 129 and Rs 136 per share.
The lot size is fixed at 110 shares, allowing retail investors to participate with a minimum investment of Rs 14,960.
The maximum lot size available is 13 lots,
which equates to an investment of Rs 1,94,480.
The IPO allocation is divided with 50% reserved for qualified institutional buyers, 35% for retail investors, and 15% for high net worth individuals.
On May 31, the company raised Rs 39.04 crore from anchor investors.
Important Dates and Market Indications
Share Allotment: June 6, 2024
Refund of Shares: June 7, 2024
Credit to Demat Account: June 7, 2024
Listing Date: June 10, 2024
Even before the IPO opens, Kronox Lab Sciences’ shares are showing strong earnings potential in the grey market.
According to investorgain.com, as of June 1, the shares are trading at a premium of 60.29%, with a grey market premium (GMP) of Rs 82.
If this trend continues, the shares could list at Rs 218, providing substantial returns for investors.
