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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 ₹68.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,30,000 (2000 shares). The minimum lot size investment for 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 Date | June 19, 2024 to June 21, 2024 |
| Listing Date | June 26, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹65 to ₹68 per share |
| Issue Price Final | ₹68 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹40.80 Cr) |
| Reserved for Market Maker | 3,00,000 shares Globalworth Securities Ltd. (aggregating up to ₹2.04 Cr) |
| Fresh Issue (Ex Market Maker) | 39,00,000 shares (aggregating up to ₹26.52 Cr) |
| Offer for Sale | 18,00,000 shares of ₹10 (aggregating up to ₹12.24 Cr) |
| Net Offered to Public | 57,00,000 shares (aggregating up to ₹38.76 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,24,27,701 shares |
| Share Holding Post Issue | 1,66,27,701 shares |
Durlax Top Surface IPO offers total 60,00,000 shares. Out of which 28,44,000 (47.40%) allocated to QIB, 22,52,000 (37.53%) allocated to QIB, 8,56,000 (14.27%) allocated to NII, 20,00,000 (33.33%) allocated to RII and 5,92,000 (9.87%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,00,000 (5.00%) |
| QIB Shares Offered | 28,44,000 (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 (14.27%) |
| Retail Shares Offered | 20,00,000 (33.33%) |
| Total Shares Offered | 60,00,000 (100.00%) |
Durlax Top Surface IPO raises ₹4.03 crore from anchor investors. Durlax Top Surface IPO Anchor bid date is June 18, 2024. Durlax Top Surface IPO Anchor Investors list
| Bid Date | June 18, 2024 |
| Shares Offered | 5,92,000 |
| Anchor Portion Size (In Cr.) | 4.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 22, 2024 |
Durlax Top Surface IPO opens on June 19, 2024, and closes on June 21, 2024.
| IPO Open Date | Wed, Jun 19, 2024 |
| IPO Close Date | Fri, Jun 21, 2024 |
| Tentative Allotment | Mon, Jun 24, 2024 |
| Initiation of Refunds | Tue, Jun 25, 2024 |
| Credit of Shares to Demat | Tue, Jun 25, 2024 |
| Tentative Listing Date | Wed, Jun 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 21, 2024 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Durlax Top Surface Limited's revenue increased by 35.9% and profit after tax (PAT) rose by 141.15% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 10,553.50 | 7,673.02 | 7,168.11 |
| Total Income | 9,083.93 | 6,684.20 | 4,741.81 |
| Profit After Tax | 505.07 | 209.44 | 48.42 |
| Net Worth | 2,184.38 | 1,671.21 | 1,292.27 |
| Reserves and Surplus | 941.61 | 431.14 | 1,277.29 |
| Total Borrowing | 6,070.71 | 3,690.93 | 3,929.82 |
| Amount in ₹ Lakhs | |||
The market capitalization of Durlax Top Surface IPO is ₹113.07 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 4.06 | 3.04 |
| P/E (x) | 16.73 | 22.39 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is in the manufacturing of solid surface materials. It marked steady growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears greedily priced. Well-informed investors may park moderate funds for the medium term. Read detail review...
| Listing Date | June 26, 2024 |
| BSE Script Code | |
| NSE Symbol | DURLAX |
| ISIN | INE0OUW01013 |
| Final Issue Price | ₹68 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹68.00 |
| Open | ₹109.00 |
| Low | ₹103.55 |
| High | ₹109.00 |
| Last Trade | ₹103.55 |
Durlax Top Surface Ltd.
301, Jaisingh Commonspace,
Dayal Das Road, FP362, W.E.
Highway, Vile Parle (East), Mumbai – 400 057
Mumbai, Maharashtra
Phone: +91-75067 99831
Email: cs@durlaxindia.com
Website: https://www.durlax.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Durlax Top Surface IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹40.80 Crores. The issue is priced at ₹68 per share. The minimum order quantity is 2000.
The IPO opens on June 19, 2024, and closes on June 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 June 19, 2024 and closes on June 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 Tuesday, June 25, 2024. Check the Durlax Top Surface IPO allotment status.
The Durlax Top Surface IPO listing date is on Wednesday, June 26, 2024.
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