Durlax Top Surface Aims to Raise Rs 40.80 Crore Through IPO on NSE Emerge

Durlax Top Surface, a solid surface manufacturer, plans to raise Rs 40.80 crore through its IPO opening on June 19. The Gujarat-based company aims to utilize the funds for working capital and corporate purposes. Promoters currently hold 95% of the stake, which will reduce to 60.35% post-issue.

Durlax Top Surface, a prominent player in the solid surface manufacturing sector, is gearing up to raise Rs 40.80 crore via an initial public offering (IPO). The subscription period for this IPO is slated to begin on June 19, according to an announcement made on Monday.

Having established a strong market presence over the past decade, Durlax Top Surface has received clearance to list on the NSE Emerge Platform. The public issue price range has been set at Rs 65-68 per share, covering 60 lakh shares, with the subscription window open until June 21.

Of the newly issued 42 lakh shares, Rs 17.50 crore will be allocated towards working capital, and Rs 6 crore will be directed towards general corporate purposes. Investors must bid for a minimum of 2,000 shares, and the promoter's stake is anticipated to fall from 95.44% to 60.35% post-issue. Established in 2010, the company operates the brands LUXOR and ASPIRON.

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