Durlax Top Surface Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 19, 2024 to June 21, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 65 to ₹ 68 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹ 40.80 Cr) |
| Fresh Issue | 42,00,000 shares (aggregating up to ₹ 28.56 Cr) |
| Offer for Sale | 18,00,000 shares of ₹10 (aggregating up to ₹ 12.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,24,27,701 |
| Share holding post issue | 1,66,27,701 |
| Market Maker portion | 3,00,000 shares |
About Durlax Top Surface Limited IPO
Durlax Top Surface is engaged in the business of manufacturing solid surface material, which is sold across India, through an extensive distribution network of distributors and direct customers and also exported to various countries such as Dubai, Qatar, Greece and Sri Lanka. They operate through two brands namely LUXOR® and ASPIRON®, which provide a wide range of solid surfaces known for their aesthetics and performance. Their LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON® offers Modified Solid Surfaces. Both brands offer seamless designs, antibacterial properties and fire-retardant features, ensuring a comprehensive selection of high-quality solid surfaces. Durlax Top Surface IPO is a book-built issue of Rs 40.80 crores.
The issue is a combination of a fresh issue of 42 lakh shares aggregating Rs 28.56 crores and an offer for sale of 18 lakh shares aggregating Rs 12.24 crores. Durlax Top Surface IPO opens for subscription on June 19, 2024 and closes on June 21, 2024. The allotment for the Durlax Top Surface IPO is expected to be finalized on Monday, June 24, 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. 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.
Durlax Top Surface IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Durlax Top Surface IPO Anchor Investors Details
| 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 |
Company & Financials
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, and 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.
Objectives of Durlax Top Surface IPO
-
The company intends to utilize the net proceeds from the issue towards the funding of the following objectives:
- 1. Part finance the working capital requirements.
- 2. General corporate purposes.
- 3. To meet the offer expenses.
Durlax Top Surface IPO Review
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.
Durlax Top Surface Limited IPO Financial Information
Latest Revenue
6,684.20
₹ Crore
Profit After Tax
262.59
₹ Crore
Net Worth
1,726.37
₹ Crore
Total Borrowing
3,690.93
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2023 | 7,782.04 | 6,684.20 | 262.59 | 1,726.37 | 3,690.93 | ||||
| 31 Mar 2022 | 7,205.30 | 4,741.81 | 80.66 | 1,294.28 | 3,929.82 | ||||
| 31 Mar 2021 | 5,757.66 | 1,974.00 | -82.51 | 1,213.62 | 3,746.74 | ||||
| Amount in ₹ Crore | |||||||||
Durlax Top Surface Limited Key Performance Indicator
| KPI | Values |
|---|---|
| - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.11 | 1.58 |
| P/E (x) | 32.18 | 43.06 |
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Competitive Strengths
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Durlax Top Surface Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹136,000 |
| Retail (Max) | 1 | 2000 | ₹136,000 |
| HNI (Min) | 2 | 4,000 | ₹272,000 |