PNN
Mumbai (Maharashtra) [India], June 15: Durlax Top Surfaces Ltd., which specializes in manufacturing solid surface materials, has announced its plans to go public with an initial public offering (IPO) on June 19, 2024. The upper band is raised by Rs 40.80 crore through this IPO, the shares of which are to be listed on the NSE Emerge platform.
The size of the fresh issue is 42,00,000 equity shares and the offer for sale (OFS) is 18,00,000 at face value of Rs 10.
equity share allotment
* QIB Anchor Portion – Up to 17,04,000 equity shares
* Qualified Institutional Buyers (QIBs) – Up to 11,40,000 equity shares
* Non-institutional investors – up to 8,56,000 equity shares
* Retail Individual Investors (RIIs) – up to Rs 20,00,000 equity shares
* Market Maker – Up to 3,00,000 equity shares
The net proceeds from the IPO will be used for working capital requirements and general corporate purposes. Bidding for the anchor portion will open on June 18, 2024, for subscription to all other categories the issue will open from June 19, 2024 and will close on June 21, 2024.The book running lead manager of the issue is Expert Global Consultants Pvt. Ltd. The registrar to the issue is BigShare Services Pvt. Ltd.
Shravan Suthar, Chairman and Managing Director, Durlax Top Surfaces Limited, said, “The decision to launch our IPO is an important moment for Durlax Top Surfaces Limited. This step is part of our efforts to expand our operations and meet the growing demand for our premium Driven by commitment. Solid surface materials.The funds raised will be used to support our working capital and our strategic initiatives for continued growth. Our manufacturing facility in Vapi equipped with state-of-the-art technologies from Germany and South Korea underlines our dedication towards delivering quality and innovation. Is. Through brands like Luxor and Espiron, we aim to continue to provide sustainable and stylish solutions across various industries both locally and internationally.”
Gaurav Jain, Founder and Director, Expert Global Consultants Pvt Ltd, said, “The solid surface industry in India, especially the countertop segment, is poised for substantial growth due to increased consumer preference for high-quality materials. This trend is set to expand in Reflecting the home decor market, which benefits from rising disposable income and growing e-commerce landscape, the IPO proceeds of Duralex Top Surfaces Ltd. allocated towards enhancing operational capabilities and market expansion are strategically positioned to take advantage of these favorable industry dynamics. is prepared for, thereby ensuring sustained growth and competitive advantage."
Mumbai (Maharashtra) [India], June 15: Durlax Top Surfaces Ltd., which specializes in manufacturing solid surface materials, has announced its plans to go public with an initial public offering (IPO) on June 19, 2024. The upper band is raised by Rs 40.80 crore through this IPO, the shares of which are to be listed on the NSE Emerge platform.
The size of the fresh issue is 42,00,000 equity shares and the offer for sale (OFS) is 18,00,000 at face value of Rs 10.
equity share allotment
* QIB Anchor Portion – Up to 17,04,000 equity shares
* Qualified Institutional Buyers (QIBs) – Up to 11,40,000 equity shares
* Non-institutional investors – up to 8,56,000 equity shares
* Retail Individual Investors (RIIs) – up to Rs 20,00,000 equity shares
* Market Maker – Up to 3,00,000 equity shares
The net proceeds from the IPO will be used for working capital requirements and general corporate purposes. Bidding for the anchor portion will open on June 18, 2024, for subscription to all other categories the issue will open from June 19, 2024 and will close on June 21, 2024.The book running lead manager of the issue is Expert Global Consultants Pvt. Ltd. The registrar to the issue is BigShare Services Pvt. Ltd.
Shravan Suthar, Chairman and Managing Director, Durlax Top Surfaces Limited, said, “The decision to launch our IPO is an important moment for Durlax Top Surfaces Limited. This step is part of our efforts to expand our operations and meet the growing demand for our premium Driven by commitment. Solid surface materials.The funds raised will be used to support our working capital and our strategic initiatives for continued growth. Our manufacturing facility in Vapi equipped with state-of-the-art technologies from Germany and South Korea underlines our dedication towards delivering quality and innovation. Is. Through brands like Luxor and Espiron, we aim to continue to provide sustainable and stylish solutions across various industries both locally and internationally.”
Gaurav Jain, Founder and Director, Expert Global Consultants Pvt Ltd, said, “The solid surface industry in India, especially the countertop segment, is poised for substantial growth due to increased consumer preference for high-quality materials. This trend is set to expand in Reflecting the home decor market, which benefits from rising disposable income and growing e-commerce landscape, the IPO proceeds of Duralex Top Surfaces Ltd. allocated towards enhancing operational capabilities and market expansion are strategically positioned to take advantage of these favorable industry dynamics. is prepared for, thereby ensuring sustained growth and competitive advantage."
