Kronox Lab Sciences, a company exporting speciality chemicals to over 20 countries opened its IPO on June 03 and closed on June 05. The allotment of the shares is expected to be finalised on June 06.
Here’s how you can check the allotment:
Step 1
Search Kfin Technologies on your search engine
Step 2
Open the website of Kfin Technologies and hover on the ‘Products’. Now, in the drop-down menu go to the investors section and click on the IPO allotment status or click on Kfin Technologies.
Step 3
Fill in all your details – the company’s name and Application number/ Demat account/ or PAN number (any of the three).
Step 4
Enter the captcha and hit the search button.
The refunds will be initiated on June 07 and shares will also be credited on the aforementioned date.
GMP
The company shares were trading at a premium of 129% to its issue price of Rs 136 in the grey market. It is an unofficial market where shares change hands illegally before listing on the bourses. Market participants keep track of GMP to take cues for the shares that are about to hit the secondary market.
About Kronox Lab Sciences IPO
Kronox Lab Sciences offered 9.6 million shares of promoters and selling shareholders to pocket Rs 130.15 crore. It offered the issue at a price band of Rs 129 to 136 per equity share, with listing tentatively scheduled on June 10. The lead managing book-runner was Pantomath Capital Advisors. According to the company, the objective behind the IPO was to dump stakes and enhance visibility through listing.