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Durlax Top Surface IPO is a book built issue of Rs 40.80 crores. The issue is a combination of fresh issue of 42 lakh shares aggregating to Rs 28.56 crores and offer for sale of 18 lakh shares aggregating to Rs 12.24 crores.
Durlax Top Surface IPO bidding started from June 19, 2024 and ended on June 21, 2024. The allotment for Durlax Top Surface IPO was finalized on Monday, June 24, 2024. The shares got listed on NSE SME on June 26, 2024.
Durlax Top Surface IPO price band is set at ₹65 to ₹68 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹272,000.
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.
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 |
| Price Band | ₹65 to ₹68 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,000,000 shares (aggregating up to ₹40.80 Cr) |
| Fresh Issue | 4,200,000 shares (aggregating up to ₹28.56 Cr) |
| Offer for Sale | 1,800,000 shares of ₹10 (aggregating up to ₹12.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,427,701 |
| Share holding post issue | 16,627,701 |
| Market Maker portion | 300,000 shares Globalworth Securities |
Durlax Top Surface IPO offers 6,000,000 shares. 2,252,000 (37.53%) to QIB, 856,000 (14.27%) to NII, 2,000,000 (33.33%) to RII and 592,000 (9.87%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 592,000 (9.87%) |
| Market Maker Shares Offered | 300,000 (5.00%) |
| QIB Shares Offered | 2,252,000 (37.53%) |
| NII (HNI) Shares Offered | 856,000 (14.27%) |
| Retail Shares Offered | 2,000,000 (33.33%) |
| Total Shares Offered | 6,000,000 (100%) |
Durlax Top Surface IPO raises Rs 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 | 592,000 |
| 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 | 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 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |
| Lot Size Calculator | |||
Mr. Shravan Suthar and Mr. Lalit Suthar are the promoters of the company.
| Share Holding Pre Issue | 95.44% |
| Share Holding Post Issue | 60.35% |
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 |
| Revenue | 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 Rs 113.07 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 26.20% |
| ROCE | 20.20% |
| Debt/Equity | 2.78 |
| RoNW | 23.12% |
| P/BV | 3.87 |
| PAT Margin (%) | 5.56 |
| 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...
The Durlax Top Surface IPO is subscribed 166.79 times on June 21, 2024 6:19:55 PM. 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) |
|---|---|
| QIB | 48.29 |
| NII | 415.06 |
| Retail | 193.95 |
| Total | 166.79 |
Total Application : 193,949 (193.95 times)
| Listing Date | June 26, 2024 |
| BSE Script Code | |
| NSE Symbol | DURLAX |
| ISIN | INE0OUW01013 |
| Final Issue Price | ₹68 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹68.00 |
| ₹109.00 |
| ₹103.55 |
| ₹109.00 |
| ₹103.55 |
Durlax Top Surface Limited
301, Jaisingh Commonspace,
Dayal Das Road, FP362, W.E.
Highway, Vile Parle (East), Mumbai – 400 057
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
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Check our SME IPO Guide 
Durlax Top Surface IPO is a SME IPO of 6,000,000 equity shares of the face value of ₹10 aggregating up to ₹40.80 Crores. The issue is priced at ₹65 to ₹68 per share. The minimum order quantity is 2000 Shares.
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 Shares, and the minimum amount required is ₹136,000.
You can apply in Durlax Top Surface IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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