Durlax Top Surface Limited SME IPO
Issue Size (Net)
up to ₹ 40.80 Cr
Price Band
₹ 65.00-68.00 per share
Issue Opens
Jun 19, 2024
Issue Closes
June 21, 2024
Company Information
Durlax Top Surface Limited was incorporated in May 2010 and is engaged in the manufacture of solid surface materials which are sold across India through an extensive distribution network of dealers and direct customers and also exported to various countries such as Dubai, Qatar, Greece and Sri Lanka. The company is represented by two brands, namely LUXOR® and ASPIRON®, which offer a wide range of solid surfaces known for their aesthetics and performance. The LUXOR® brand offers acrylic UV solid sheets, while ASPIRON® offers modified solid sheets. Both brands offer seamless designs, antibacterial and fire-retardant properties and ensure a comprehensive range of high quality solid sheets.
The manufacturing facility is located in Moti Tambadi, Alsad district, near Vapi, Gujarat. The manufacturing facility has infrastructure for storage of raw materials, production of solid slabs, storage of finished products and a laboratory for quality control and research and development. The power requirement for this facility is met by the local grid and back-up generators for running the packaging equipment and general lighting, while water is sourced from the in-house well.
It’s surfaces are used in residential, commercial, hospitality, healthcare, outdoor and various other industries where they provide stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects and more.
Durlax Top Surface SME IPO Strengths
- Focusing on multiple end-user industries.
- Wide and diverse range of product offerings.
- Experienced promoters and management team with industry knowledge and an established track record.
- Diversified distribution network across India catering to customers.
Durlax Top Surface SME IPO Objective
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Part finance the working capital requirements;
- General corporate purposes; and
- To meet the offer expenses.
Durlax Top Surface Limited Financial Information (Restated Consolidated)
Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
---|---|---|---|
Assets | 10,553.50 | 7,673.02 | 7,168.11 |
Revenue | 9,083.93 | 6,684.20 | 4,741.81 |
Profit After Tax | 505.07 | 209.44 | 48.42 |
Net Worth | 2,184.38 | 1,671.21 | 1,292.27 |
Reserves and Surplus | 941.61 | 431.14 | 1,277.29 |
Total Borrowing | 6,070.71 | 3,690.93 | 3,929.82 |
Amount in ₹ Lakhs |
Durlax Top Surface Limited Day-wise IPO GMP Trend
GMP Date | IPO Price | GMP Movement | Estimated Listing Price | Last Updated |
---|---|---|---|---|
26-06-2024 Listing | 68.00 | ₹64 – No Change | ₹132 (94.12%) | 26-Jun-2024 10:26 |
25-06-2024 | 68.00 | ₹64 – Up | ₹132 (94.12%) | 25-Jun-2024 12:23 |
24-06-2024 Allotment | 68.00 | ₹63 – Up | ₹131 (92.65%) | 24-Jun-2024 10:28 |
23-06-2024 | 68.00 | ₹60 – Down | ₹128 (88.24%) | 24-Jun-2024 0:32 |
22-06-2024 | 68.00 | ₹61 – Up | ₹129 (89.71%) | 23-Jun-2024 0:28 |
21-06-2024 Close | 68.00 | ₹58 – Up | ₹126 (85.29%) | 22-Jun-2024 0:30 |
20-06-2024 | 68.00 | ₹50 – Up | ₹118 (73.53%) | 20-Jun-2024 10:59 |
19-06-2024 Open | 68.00 | ₹40 – Up | ₹108 (58.82%) | 19-Jun-2024 12:00 |
18-06-2024 | 68.00 | ₹28 – Up | ₹96 (41.18%) | 18-Jun-2024 10:54 |
17-06-2024 | 68.00 | ₹23 – Up | ₹91 (33.82%) | 17-Jun-2024 10:30 |
16-06-2024 | 68.00 | ₹17 – No Change | ₹85 (25%) | 17-Jun-2024 0:29 |
15-06-2024 | 68.00 | ₹17 – Up | ₹85 (25%) | 16-Jun-2024 0:24 |
14-06-2024 | 68.00 | ₹0 – No Change | ₹68 (0%) | 15-Jun-2024 0:31 |
13-06-2024 | 68.00 | ₹0 – No Change | ₹68 (0%) | 14-Jun-2024 0:27 |
Durlax Top Surface Limited SME IPO Details
SME IPO Issue Opening Date: | June 19, 2024 |
SME IPO Issue Closing Date: | June 21, 2024 |
SME IPO Issue Price: | ₹65.00-68.00 Per Share |
Face Value | ₹10 Per Equity Share |
Lot Size | 2000 Shares |
Issue Size | ₹40.80 Cr |
Fresh Issue | ₹28.56 Cr |
Issue Type | Book Build Issue |
IPO Listing At: | NSE SME |
Durlax Top Surface Limited SME IPO Timeline (Tentative Schedule)
Event | Tentative Date |
---|---|
Opening Date | 19th Jun 2024 |
Closing Date | 21st Jun 2024 |
Basis of Allotment | 24th Jun 2024 |
Initiation of Refunds | 25th Jun 2024 |
Credit of Shares to Demat | 25th Jun 2024 |
Listing Date | 26th Jun 2024 |