Durlax Top Surface Limited IPO: Financial Analysis, Opening Dates, GMP & Subscription Details

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Durlax Top Surface Limited IPO Review, GMP, Price, Allotment, Analysis & Details

Company Profile

Durlax Top Surface Limited is a leading manufacturer of innovative surface solutions. With a robust presence in both domestic and international markets, the company is recognized for its quality products and extensive distribution network.

  • Incorporation Date: May 03, 2010
  • Promoters: Shravan Suthar and Lalit Suthar
  • Corporate Identification Number (CIN): U74999MH2010PLC202712
  • Registered Office: 301, Jaisingh Commonspace, Dayal Das Road, FP362, W.E. Highway, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
  • Website: www.durlax.com
  • Docs: DRHP PDF.

IPO Details

  • IPO Date: June 19, 2024, to June 21, 2024
  • Issue Type: Book Built Issue IPO
  • Face Value: ₹10 per equity share
  • Price Band: ₹65 to ₹68 per equity share
  • Market Lot: 2000 shares
  • Min Order Quantity: 2000 shares
  • Listing At: NSE SME

Issue Size

  • Fresh Issue: 4,200,000 equity shares (aggregating up to ₹28.56 Crores)
  • Offer for Sale (OFS): 1,800,000 equity shares (aggregating up to ₹12.24 Crores)
  • Total Issue Size: 6,000,000 equity shares (aggregating up to ₹40.80 Crores)

Important Dates

  • IPO Open Date: Wednesday, June 19, 2024
  • IPO Close Date: Friday, June 21, 2024
  • Basis of Allotment: Monday, June 24, 2024
  • Initiation of Refunds: Tuesday, June 25, 2024
  • Credit of Shares to Demat: Tuesday, June 25, 2024
  • Listing Date: Wednesday, June 26, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on June 21, 2024

Financial Performance

Summary of Financial Information:

Financial Metrics (₹ in Lakhs) FY 2024 FY 2023 FY 2022 FY 2021
Total Revenue 9,083.93 6,673.83 4,735.82 1,954.58
Profit After Tax 505.07 262.59 80.66 (26.41)
Share Capital [Value] 1,240.07 14.98 14.98
Reserve & Surplus 941.61 486.30 1,279.30 1,198.64

Objectives of the Issue

The net proceeds from the IPO will be utilized for:

  1. Expanding manufacturing facilities.
  2. Investing in technology upgrades.
  3. Repaying certain borrowings.
  4. General corporate purposes.

Strengths

  1. Strong Market Presence: A significant market share in the surface solutions industry.
  2. Innovative Product Portfolio: Continuous investment in R&D to stay ahead in the market.
  3. Experienced Management: Promoters with extensive industry experience.
  4. Wide Distribution Network: Efficient product delivery across various regions.

Risks

  1. High Competition: Intense competition in the industry.
  2. Economic Dependency: Performance linked to economic conditions in key markets.
  3. Raw Material Price Volatility: Potential impact on profit margins due to price fluctuations.
  4. Regulatory Challenges: Compliance with environmental and other regulations.

Market Lot

  • Minimum Lot Size: 2000 shares
  • Minimum Amount: Rs 136000

Lead Managers and Registrar

  • Book Running Lead Manager: Expert Global Consultants Private Limited
  • Registrar: Bigshare Services Private Limited

Durlax Top Surface Limited IPO Subscription Details

Category Subscription (times) Shares Offered Shares bid for
QIB 48.29 22,52,000 51,08,000
NII* 415.1 8,56,000 5,94,000
Retail 193.95 20,00,000 72,88,000
Total 166.8 51,08,000 1,29,90,000

GMP and Kostak Rates

Durlax Top Surface Limited IPO GMP Live Rates and Kostak Rates Daily Updates:

Date IPO GMP Kostak Subject to
Today ₹50 ₹- ₹- 70000
20 June ₹25
19 June ₹25 ₹- 35000
18 June ₹15 ₹- ₹- 25000
15 June ₹12 ₹- ₹- 20000
14 June ₹10 ₹- ₹-
13 June ₹10 ₹- ₹-

Stay informed with the latest Grey Market Premium (GMP) and Kostak rates for the Duralex Top Surface Limited IPO. Get daily insights into the premium investors are willing to pay over the IPO price and the rates for trading IPO applications before allotment.


How To Get/Claim:


How to Apply

Investors can apply for the Durlax Top Surface Limited IPO through the following methods:

  1. ASBA: Apply online through your bank’s net banking portal using the ASBA (Application Supported by Blocked Amount) method.
  2. UPI: Apply via UPI for retail investors.

Conclusion

Durlax Top Surface Limited’s IPO presents a promising opportunity for investors looking to invest in a growing company in the surface solutions sector. With a robust business model, experienced management, and clear growth strategies, the IPO is expected to attract significant investor interest. However, potential investors should carefully evaluate the risks involved and consider consulting with financial advisors before making any investment decisions.

For more detailed information, please refer to the Draft Red Herring Prospectus (DRHP) available on the company's website and consult with your financial advisor.

  • "Durlax Top Surface Limited IPO: Detailed Review, GMP, Price Band & Subscription Status"
  • "Durlax Top Surface Limited IPO Analysis: Important Dates, Lot Size, and Financials"
  • "Invest in Durlax Top Surface Limited IPO: Allotment, Listing Date, and Market Insights"
  • "Durlax Top Surface Limited IPO Subscription Details, GMP Live Rates, and Application Guide"
  • "Comprehensive Guide to Durlax Top Surface Limited IPO: Price, Date, Allotment & More"
  • "Durlax Top Surface Limited IPO Review: Financial Performance, Strengths, Risks & Objectives"
  • "Live Updates on Durlax Top Surface Limited IPO: GMP, Kostak Rates & Market Trends"

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