Kronox Lab Sciences IPO Skyrockets with 11.06 Times Subscription on Opening Day

The IPO of Kronox Lab Sciences was oversubscribed 11.06 times on its first day. The offering saw bids for 7,40,66,630 shares against 66,99,000 shares available. Different investor categories showed varying levels of interest, with non-institutional investors leading with 19.94 times subscription.

The initial public offering (IPO) of Kronox Lab Sciences saw overwhelming demand on its first subscription day, being oversubscribed 11.06 times, according to data from the National Stock Exchange (NSE).

Retail investors showed robust interest, with the Retail Individual Investors (RIIs) category being subscribed 12.93 times. Non-institutional investors were even more aggressive, subscribing 19.94 times the shares allocated to them. Qualified Institutional Buyers (QIBs) also participated with 1.11 times subscription.

Kronox Lab Sciences, a Vadodara-based manufacturer of high-purity speciality fine chemicals, has set an IPO price range of Rs 129-136 per share. The company raised Rs 39.04 crore from anchor investors, with Pantomath Capital Advisors acting as the book-running lead manager. The company's equity shares are slated for listing on both the BSE and NSE.