Durlax Top Surface IPO: The initial public offering (IPO) of Durlax Top Surface Ltd, which manufactures solid surface materials, is going to be closed today, June 21. The Rs 40.80-crore IPO, which was opened for public subscription on June 19, has received a strong response from investors. Till 10:51 am on the final day of bidding on Friday, the IPO received 21.12 times subscription, garnering bids for 10,78,80,000 shares as against 51,08,000 on offer.
The quota for non-institutional investors got subscribed 22.65 times while the category for Retail Individual Investors (RIIs) fetched 40.93 times subscription. The Qualified Institutional Buyers (QIBs) portion received a 2.94 times subscription.
Durlax Top Surface IPO: Allotment And Listing Dates
The Durlax Top Surface IPO allotment will likely be finalised on June 24, while its listing will take place on the NSE SME on June 26.
Durlax Top Surface IPO: Price and Lot Size
The price band of the Durlax Top Surface IPO was fixed at Rs 65 to Rs 68 per share.
Investors need to apply for a minimum of 2,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,36,000 (2,000 (lot size) x Rs 68 (upper price band)).
Durlax Top Surface IPO GMP Today
According to market observers, unlisted shares of Durlax Top Surface Ltd are trading Rs 60 higher in the grey market as compared with its issue price. The Rs 60 grey market premium or GMP means the grey market is expecting an 88.24 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Durlax Top Surface IPO: More Details
The Durlax Top Surface IPO is a combination of fresh issue of 42 lakh shares aggregating to Rs 28.56 crore and offer for sale of 18 lakh shares aggregating to Rs 12.24 crore.
Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, manufactures solid surface materials that are sold across India. It was established in 2010.
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.
Its revenue increased 35.9 per cent and profit after tax (PAT) rose 141.15 per cent in the financial year 2023-24.
Expert Global Consultants Private Limited is the book running lead manager of the Durlax Top Surface IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Durlax Top Surface IPO is Globalworth Securities.
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