The Initial Public Offering of Durlax Top Services will open for subscription on Wednesday, June 19 and closes on Friday, June 21. The bidding for Anchor Investor will be held on Tuesday, June 18. Durlax Top Services Limited IPO is a book-built issue of Rs. 40.80 Crores which comprises fresh issue size of 42 lakh share aggregating to Rs. 28.56 Crores and an offer for sale of 18 lakh share aggregating to Rs.12.24 Crores. The issue shall be listed on NSE SME with tempting date fixed as Wednesday, June 26.
The company is offering its shares in the price band of Rs. 65 to Rs. 68 per equity share with a face value of Rs. 10. The minimum lot size of the issue is 2000 equity shares and its multiples thereafter. The minimum and maximum amount of investments required for Retails is ₹1,36,000. The minimum lot size investment for HNI is 2 lot amounting to ₹2,72,000.
The Company has reserved not more than 50% of shares in the public issue for Qualified Institutional Buyers including 5% for Anchor Investors, not less than 15% for NII’s and not less than 35% for Retails.
Object of the issue is to meet the following objectives – Part finance the working capital requirements (₹17.50 crores), general corporate purpose (₹6 crores) and to meet the offer expenses (₹5 crores) aggregating to ₹28.50 crores.
Financials – The total Debt on company is ₹60.70 crores.
| 2024 | 2023 | 2022 | |
| Revenue | 90.78 | 66.73 | 47.35 |
| Profit | 5.05 | 2.09 | 0.48 |
About Durlax Top Surface Limited
Durlax Top Surface Limited formerly known as ‘Dulax Archtech Private Limited’ was established in 2010. The company sells solid surface materials across the india. The company’s manufacturing facility is located in Vapi (Gujarat).
Risk Factors
- Its promoter and directors are party to certain legal proceeding.
- Company’s debt is more than 12x company’s profit.
- We have not received consents and information pertaining to certain promoter group members which are required.
Expert Global Consultants Private Limited is the book-running lead manager. Bigshare Services Private Limited is the registrar of the IPO.