Durlax Top Surface IPO booked over 156 times on day 3; check latest GMP, subscription status, more

  • Durlax Top Surface IPO subscriptions open on June 19 and close on June 21, with a price band of 65 to 68 per share. The firm manufactures solid surface materials under LUXOR and ASPIRON brands, with a production plant in Vapi equipped with advanced technology.

Dhanya Nagasundaram
Updated21 Jun 2024, 01:41 PM IST
Durlax Top Surface IPO began subscriptions on Wednesday, June 19 and will close on Friday, June 21.
Durlax Top Surface IPO began subscriptions on Wednesday, June 19 and will close on Friday, June 21. (https://www.durlax.com/)

The Durlax Top Surface IPO began subscriptions on Wednesday, June 19 and will close on Friday, June 21. The Durlax Top Surface IPO has a lot size of 2,000 shares. The Durlax Top Surface IPO price band has been set in the range at 65 to 68 per equity share, having a face value of 10.

The firm manufactures solid surface materials, which are distributed throughout India via a large distribution network of distributors and direct clients, as well as exported to countries such as Dubai, Bahrain, Greece, and Nepal. The firm operates under two names, LUXOR and ASPIRON, which provide a wide variety of solid surfaces. The company's LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON provides Modified Solid Surfaces.

Also Read: GP Eco Solutions IPO: Issue subscribed over 600 times so far on last day; Check GMP, other key details of SME IPO

Their production plant in Vapi is equipped with German and South Korean technology as well as innovative gear for producing solid surface materials.

The company's listed peers are Kaka Industries Ltd (with a P/E of 17.53), Dhabriya Plywood Ltd (with a P/E of 23.79), and Pokarna Ltd. 

Durlax Top Surface Limited's revenue gained by 35.9%, while profit after tax (PAT) increased by 141.15% during the fiscal years ending March 31, 2024 and March 31, 2023.

Durlax Top Surface IPO Subscription Status 

Durlax Top Surface IPO subscription status is 156.16 times, on day 3.

The retail portion was subscribed 167.98 times, and NII portion was booked 412.33 times. Qualified Institutional Buyers was booked 48.29 times.

The company has received bids for 79,76,58,000 shares against 51,08,000 shares on offer, at 17:03 IST, according to data on chittorgarh.com.

Durlax Top Surface IPO subscription status was 5.99 times, on day 1, and the issue was booked 14.32 times, on day 2.

Also Read: Sylvan Plyboard IPO price band set at 55 per share; issue to open on June 24

Durlax Top Surface IPO details

The Durlax Top Surface IPO, worth 40.80 crore, consists of a fresh issuance of 4,200,000 equity shares at face value of 10. Through offer-for-sale component, the promoter selling shareholder, Shravan Suthar will offload 1,800,000 equity shares. 

The business plans to use the net proceeds from the offering to support the following reasons: part financing of working capital requirements, general corporate purposes, and to cover offer expenses.

Shravan and Lalit Suthar are the company's promoters.

Expert Global Consultants Private Ltd is the book-running lead manager for the Durlax Top Surface IPO, while Bigshare Services Pvt Ltd is the registrar. Globalworth Securities is the market maker for the Durlax Top Surface IPO.

Also Read: Petro Carbon and Chemicals IPO to open on June 25; price band fixed at 162-171 apiece

Durlax Top Surface IPO GMP today 

Durlax Top Surface IPO GMP or grey market premium is +60. This indicates Durlax Top Surface share price were trading at a premium of 60 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, Durlax Top Surface IPO expected listing price was indicated at 128 apiece, which is 88.24% higher than the IPO price of 68.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Akme Fintrade IPO: 10 key risks investors should know before subscribing to the 132- crore issue

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:21 Jun 2024, 01:41 PM IST
HomeMarketsIPODurlax Top Surface IPO booked over 156 times on day 3; check latest GMP, subscription status, more

Most Active Stocks

Tata Steel

167.05
03:57 PM | 16 JUL 2024
0.25 (0.15%)

Oil & Natural Gas Corporation

322.40
03:58 PM | 16 JUL 2024
-0.15 (-0.05%)

Bandhan Bank

198.30
03:41 PM | 16 JUL 2024
2.95 (1.51%)

Coal India

512.35
03:59 PM | 16 JUL 2024
14.4 (2.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Natco Pharma

1,281.05
03:59 PM | 16 JUL 2024
73.2 (6.06%)

Century Textiles & Industries

2,217.55
03:48 PM | 16 JUL 2024
116.85 (5.56%)

Tata Teleservices Maharashtra

81.33
03:54 PM | 16 JUL 2024
4.23 (5.49%)

India Cements

323.05
03:55 PM | 16 JUL 2024
15.8 (5.14%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,318.00-453.00
    Chennai
    74,755.00928.00
    Delhi
    75,266.001,294.00
    Kolkata
    75,047.001,002.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.01
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts