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Durlax Top Surface Limited IPO (Durlax Top Surface IPO) Detail

June 19, 2024 - June 21, 2024

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.

Durlax Top Surface IPO Details

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 Size6,000,000 shares
(aggregating up to ₹40.80 Cr)
Fresh Issue4,200,000 shares
(aggregating up to ₹28.56 Cr)
Offer for Sale1,800,000 shares of ₹10
(aggregating up to ₹12.24 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue12,427,701
Share holding post issue16,627,701
Market Maker portion300,000 shares
Globalworth Securities

Durlax Top Surface IPO Reservation

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 Offered592,000 (9.87%)
Market Maker Shares Offered300,000 (5.00%)
QIB Shares Offered2,252,000 (37.53%)
NII (HNI) Shares Offered856,000 (14.27%)
Retail Shares Offered2,000,000 (33.33%)
Total Shares Offered6,000,000 (100%)

Durlax Top Surface IPO Anchor Investors Details

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 Timeline (Tentative Schedule)

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

Durlax Top Surface IPO Lot Size

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

Durlax Top Surface IPO Promoter Holding

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%

About Durlax Top Surface Limited

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 Financial Information (Restated)

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Profit After Tax505.07209.4448.42
Net Worth2,184.381,671.211,292.27
Reserves and Surplus941.61431.141,277.29
Total Borrowing6,070.713,690.933,929.82
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Durlax Top Surface IPO is Rs 113.07 Cr.

KPI as of March 31, 2024.

KPI Values
PAT Margin (%)5.56
Pre IPO Post IPO
EPS (Rs) 4.063.04
P/E (x) 16.7322.39
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (Durlax Top Surface IPO Objectives)

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Part finance the working capital requirements;
  2. General corporate purposes; and
  3. To meet the offer expenses.

Durlax Top Surface IPO Review (May apply)

[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...

Durlax Top Surface IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)

Total Application : 193,949 (193.95 times)

Durlax Top Surface IPO Prospectus

Durlax Top Surface IPO Rating

Rating:Rated 4.0 stars
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Durlax Top Surface IPO Listing Details

Listing Date June 26, 2024
BSE Script Code
Final Issue Price ₹68 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Durlax Top Surface Limited Contact Details

Durlax Top Surface Limited
301, Jaisingh Commonspace,
Dayal Das Road, FP362, W.E.
Highway, Vile Parle (East), Mumbai – 400 057
Phone: +91-75067 99831

Durlax Top Surface IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Durlax Top Surface IPO - Buy or Not

Durlax Top Surface IPO Recommendation Summary

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Durlax Top Surface IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Durlax Top Surface IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The Durlax Top Surface IPO listing date is on June 26, 2024.
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