Durlax Top Surface IPO: The initial public offering (IPO) of Durlax Top Surface Limited is set to hit the Indian primary market on June 19, 2024, and will remain open for bidding until June 21, 2024. The company, a manufacturer of solid surface materials, has fixed the IPO price band at ₹65 to ₹68 per equity share. The IPO, which will be listed on the NSE SME Emerge platform, is a mix of fresh issues and offers for sale (OFS).
Key Details of Durlax Top Surface IPO:
- Grey Market Premium (GMP): Shares of Durlax Top Surface Limited are currently available at a premium of ₹15 in the grey market.
- IPO Dates: The IPO will open on June 19, 2024, and close on June 21, 2024.
- Price Band: The price band is set at ₹65 to ₹68 per equity share.
- IPO Size: The IPO aims to raise ₹28.56 crore through the issuance of fresh shares and ₹12.24 crore through the OFS route.
- Lot Size: Investors can apply in lots, with each lot comprising 2000 shares.
- Allotment Date: The finalization of share allocation is expected on June 22, 2024. If not announced on this date, it will be declared on June 24, 2024.
- Registrar: Bigshare Private Ltd has been appointed as the official registrar of the IPO.
- Minimum Investment: The minimum investment required is ₹1,36,000, calculated as ₹68 per share for 2000 shares.
- Listing: The shares will be listed on the NSE SME Emerge platform.
- Listing Date: The shares are likely to be listed on June 26, 2024, following the ‘T+3’ listing rule.
Company Management’s View:
Shravan Suthar, Chairman and Managing Director of Durlax Top Surface Limited, stated, “Our decision to launch our IPO marks a pivotal moment for Durlax Top Surface Limited. This move is driven by our commitment to expanding our operations and meeting the growing demand for our premium solid surface materials. The funds raised will be utilized for our working capital and supporting our strategic initiatives for sustained growth. Our manufacturing facility in Vapi, equipped with cutting-edge technologies from Germany and South Korea, underscores our dedication to delivering quality and innovation. Through brands like LUXOR and ASPIRON, we aim to continue providing durable and stylish solutions across diverse local and international industries.”
Disclaimer: Investors are advised to consult certified experts before making any investment decisions.
