Durlax Top Surface share price lists with stellar 60% premium at ₹190 on the NSE SME

Durlax Top Surface share price listed with stellar 60% premium at ₹109 on the NSE SME on Wednesday.

The subscription figures and grey market premium had indicated that investors were expecting strong listing gains for Durlax Top Surface share price.

Durlax Top Surface IPO that had opened for subscription by investors on Wednesday, June 19 and closed on Friday, June 21 had received strong response being subscribed more than 156 times. 

The grey market premium or GMP for the Durlax Top Surface IPO stood at ₹64 as per investorgain.com. This indicated that the investors were expecting listing at ₹132, a 94.12% premium for Durlax Top Surface share price over  the issue price of ₹68 per share.

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The Durlax Top Surface IPO price band had been set between ₹65 and ₹68 per equity share with a face value of ₹10, while 2000 shares was the lot size for the Durlax Top Surface IPO. 

The Durlax Top Surface IPO was a book-building issue valued at ₹40.80 crores. While the issue included offer for sale of 18 lakh shares valued at ₹12.24 crores,  issue also consists of an initial public offering of 42 lakh shares valued at ₹28.56 crores

Durlax Top Surface intends to use the proceeds from the IPO for part financing of its working capital requirements. Durlax Top Surface also will be using part of the proceeds tor the General corporate purposes as well as for meeting the expenses pertaining to this IPO.

Originally established in 2010 as Durlax Archtech Private Limited, Durlax Top Surface Limited distributes solid surface materials in India.

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Durlax Top Surface Limited has two brands: ASPIRON and LUXOR. Modified solid sheets are sold by ASPIRON, and acrylic UV solid sheets are sold by LUXOR.

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

Durlax Top Surface Limited during fiscal years ended March 31, 2024 and March 31, 2023, saw revenue rise by 35.9% and profit after tax (PAT) increased by 141.15%.

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