Bookbuilding IPO | ₹41 Cr | Listed at NSE SME | Wed, Jun 19, 2024 - Fri, Jun 21, 2024
Durlax Top Surface IPO is a book build issue of ₹40.80 crores. The issue is a combination of fresh issue of 0.42 crore shares aggregating to ₹28.56 crores and offer for sale of 0.18 crore shares aggregating to ₹12.24 crores.
Durlax Top Surface IPO bidding started from Jun 19, 2024 and ended on Jun 21, 2024. The allotment for Durlax Top Surface IPO was finalized on Jun 24, 2024. The shares got listed on NSE SME on Jun 26, 2024.
Durlax Top Surface IPO price band is set at ₹68 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,36,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,72,000.
Expert Global Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Globalworth Securities Ltd..
Refer to Durlax Top Surface IPO RHP for detailed Information.
IPO Open
Wed, Jun 19, 2024
IPO Close
Fri, Jun 21, 2024
Issue Price
₹68 per share
Market Cap (Pre-IPO)
₹113.07 Cr
| IPO Date | 19 to 21 Jun, 2024 |
| Listed on | Wed, Jun 26, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹65 to ₹68 |
| Issue Price | ₹68 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹41 Cr) |
| Reserved for Market Maker | 3,00,000 shares Globalworth Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 39,00,000 shares (agg. up to ₹27 Cr) |
| Offer for Sale | 18,00,000 shares of ₹10 (agg. up to ₹12 Cr) |
| Net Offered to Public | 57,00,000 shares (agg. up to ₹39 Cr) |
| Share Holding Pre Issue | 1,24,27,701 shares |
| Share Holding Post Issue | 1,66,27,701 shares |
| NSE Symbol | DURLAX |
| ISIN | INE0OUW01013 |
Durlax Top Surface IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 57,00,000 shares, after excluding 3,00,000 shares allotted on a firm basis. Of the Net offer 28,44,000 (49.89%) are allocated to QIB, 8,56,000 (15.02%) allocated to NII 20,00,000 (35.09%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 28,44,000 | 49.89% | 47.40% |
| − Anchor Investor Shares Offered | 5,92,000 | 9.87% | |
| − QIB (Ex. Anchor) Shares Offered | 22,52,000 | 37.53% | |
| NII (HNI) Shares Offered | 8,56,000 | 15.02% | 14.27% |
| Retail Shares Offered | 20,00,000 | 35.09% | 33.33% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,00,000 | 5.00% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,36,000 |
| Retail (Max) | 1 | 2,000 | ₹1,36,000 |
| HNI (Min) | 2 | 4,000 | ₹2,72,000 |
Durlax Top Surface IPO raises ₹4.03 crore from anchor investors. Durlax Top Surface IPO Anchor bid date is June 18, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jun 18, 2024 |
| Shares Offered | 5,92,000 |
| Anchor Portion (₹ Cr.) | 4.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jul 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Sep 22, 2024 |
Established in 2010, Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, manufactures solid surface materials that are sold across India.
The company has two brands, namely LUXOR and ASPIRON. The LUXOR brand offers acrylic UV solid sheets while ASPIRON offers modified solid sheets. Both brands offer seamless designs, antibacterial and fire-retardant properties, ensuring a comprehensive range of high-quality solid sheets. The products are used in residential, commercial, hospitality, healthcare, outdoor and various other industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects and more.
The company's manufacturing facility is located in Vapi, Gujarat. As of September 25, 2023, the company employed 70 people.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 105.54 | 76.73 | 71.68 |
| Total Income | 90.84 | 66.84 | 47.42 |
| Profit After Tax | 5.05 | 2.09 | 0.48 |
| NET Worth | 21.84 | 16.71 | 12.92 |
| Reserves and Surplus | 9.42 | 4.31 | 12.77 |
| Total Borrowing | 60.71 | 36.91 | 39.30 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part finance to meet the working capital requirements | 17.50 |
| 2 | General corporate purposes | 6.00 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 26.20% |
| ROCE | 20.20% |
| Debt/Equity | 2.78 |
| RoNW | 23.12% |
| PAT Margin | 5.56% |
| Price to Book Value | 3.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.06 | 3.04 |
| P/E (x) | 16.73 | 22.39 |
| Promoter Holding | 95.44% | 60.35% |
| Market Cap | ₹113.07 Cr. |
The Durlax Top Surface IPO is subscribed 166.79 times on June 21, 2024 6:19:55 PM (Day 3). The public issue subscribed 193.95 times in the retail category, 48.29 times in the QIB category, and 415.06 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 48.29 | 22,52,000 | 10,87,50,000 |
| NII* | 415.06 | 8,56,000 | 35,52,92,000 |
| Retail | 193.95 | 20,00,000 | 38,78,96,000 |
| Total | 166.79 | 51,08,000 | 85,19,38,000 |
Total Application : 1,93,949
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Offer relating expenses such as fees to Book Running Lead Manager Fixed Fee, Registrar to the Offer, Legal Advisors, Auditors, statutory advertisements and other expenses incurred / to be incurred including promotional expenses | 2.65 |
| 2 | Underwriting commission, brokerage and selling commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.02 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories fees, other regulatory expenses and sundry expenses | 0.33 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹68.00 |
| Open | ₹109.00 |
| Low | ₹103.55 |
| High | ₹109.00 |
| Last Trade | ₹103.55 |
Lead Manager Reports
Durlax Top Surface IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹41 Crores. The issue is priced at ₹68 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Jun 19, 2024, and closes on Fri, Jun 21, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Durlax Top Surface IPO using UPI as a payment gateway. Zerodha customers can apply in Durlax Top Surface IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Durlax Top Surface IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Durlax Top Surface IPO opens on Wed, Jun 19, 2024 and closes on Fri, Jun 21, 2024.
Durlax Top Surface IPO lot size is 2000, and the minimum amount required for application is ₹1,36,000.
You can apply in Durlax Top Surface IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Durlax Top Surface IPO will be done on Monday, June 24, 2024, and the allotted shares will be credited to your demat account by Tue, Jun 25, 2024. Check the Durlax Top Surface IPO allotment status.
The Durlax Top Surface IPO listing date is on Wed, Jun 26, 2024.
