Kronox Lab Sciences IPO Oversubscribed 24.57 Times on Second Day

The IPO of Kronox Lab Sciences was oversubscribed by 24.57 times on the second day, receiving bids for 16,45,99,160 shares against 66,99,000 shares offered. Non-institutional investors showed the highest interest, with their quota being subscribed 52.92 times. The IPO price range is Rs 129-136 per share.

The Initial Public Offering (IPO) of Kronox Lab Sciences saw an overwhelming response, being oversubscribed by 24.57 times on its second day of bidding, Tuesday. According to NSE data, the company received bids for 16,45,99,160 shares compared to the 66,99,000 shares on offer.

The non-institutional investors led the charge with their quota being subscribed an impressive 52.92 times, while the category for Retail Individual Investors (RIIs) fetched 24.52 times subscription. Qualified Institutional Buyers (QIBs) also showed significant interest, with their portion receiving 3.39 times subscription.

The IPO, which has a price range of Rs 129-136 per share, includes an offer for sale of up to 95,70,000 equity shares. Kronox Lab Sciences has already raised Rs 39.04 crore from anchor investors. Managed by Pantomath Capital Advisors, the company's equity shares are set to be listed on the BSE and NSE.