Subscribe for real-time financial insights on Trade Target’s WhatsApp Channels
Durlax Top Surface Limited, established in May 2010 manufactures solid surface materials sold throughout India and exported to countries like Dubai, Qatar, Greece and Sri Lanka. The company operates under two brands, LUXOR and ASPIRON. LUXOR specializes in acrylic UV solid sheets, whereas ASPIRON focuses on modified solid sheets.
The manufacturing plant is in Gujarat. It includes facilities for raw material storage, solid slab production, finished product storage and a quality control and R&D lab.
Durlax’s products are widely used in residential, commercial, hospitality, healthcare and outdoor projects offering stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals and more.
Durlax Top Surface IPO Overview
Durlax Top Surface IPO aims to raise ₹40.80 crores in total. This includes a fresh issue worth ₹28.56 cr and an offer for sale amounting to ₹12.24 crores. The price band for IPO is set between ₹65 and ₹68 per share.
Durlax IPO will be available for subscription from June 19, 2024, to June 21, 2024. The share allotment is anticipated to be completed by 24 June 2024, with the shares expected to be listed on the NSE SME segment by June 26, 2024.
Mr. Shravan Suthar and Mr. Lalit Suthar currently hold 95.44% ownership. However, this ownership will be diluted to 60.35% after the IPO. Bigshare Services Pvt Ltd will act as the registrar for the Durlax IPO.
Durlax Top Surface IPO GMP
As of 15 June 2024, Durlax Top Surface IPO has a Grey Market Premium or GMP of ₹10. With the upper price band set at ₹68, the estimated listing price is ₹78 (Upper price band + today’s GMP) indicates an expected gain of 14.71% per share.
GMP has been a trending upword over the past four sessions suggesting a strong listing. Stay tuned with Trade Target for daily updates on Durlax Top Surface IPO GMP and expected listing price.
- Date: 24 – June – 2024
- Durlax Top Surface GMP: ₹63 (92.65%)
- Date: 23 – June – 2024
- Durlax Top Surface GMP: ₹60 (88.24%)
- Date: 22 – June – 2024
- Durlax Top Surface GMP: ₹61 (89.71%)
- Date: 21 – June – 2024
- Durlax Top Surface GMP: ₹58 (85.29%)
- Date: 20 – June – 2024
- Durlax Top Surface GMP: ₹50 (73.53%)
- Date: 19 – June – 2024
- Durlax Top Surface GMP: ₹40 (58.82%)
- Date: 18 – June – 2024
- Durlax Top Surface GMP: ₹28 (41.18%)
- Date: 17 – June – 2024
- Durlax Top Surface GMP: ₹23 (33.82%)
- Date: 16 – June – 2024
- Durlax Top Surface GMP: ₹17 (25%)
- Date: 15 – June – 2024
- Durlax Top Surface GMP: ₹17 (25%)
How can one apply for Durlax Top Surface IPO?
For retail investors minimum investment starts with 1 lot including 2000 shares, at a cost of ₹136,000 and this is the maximum limit for retail investors.
For High Net worth Individuals (HNIs) minimum investment is set at 2 lots, translating to 4,000 shares and costing ₹272,000
| Application | Lots | Shares | Amount |
|---|---|---|---|
Retail (Min) | 1 | 2000 | ₹136,000 |
Retail (Max) | 1 | 2000 | ₹136,000 |
S-HNI (Min) | 2 | 4000 | ₹272,000 |
Durlax Top Surface IPO Financial
As of March 31, 2024, Durlax Top Surface Limited reported a Profit After Tax (PAT) of ₹505.07 lakhs, demonstrating financial growth over the past years. For the same period in 2023, PAT was ₹209.44 lakhs and in 2022 it was ₹48.42 lakhs. This steady increase in profitability highlights the company’s successful expansion and operational efficiency.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
Assets in (₹ Lakhs) | 10,553.50 | 7,673.02 | 7,168.11 |
Revenue (₹ Lakhs) | 9,083.93 | 6,684.20 | 4,741.81 |
PAT (₹ Lakhs) | 505.07 | 209.44 | 48.42 |
Total Borrowing (₹ Lakhs) | 6,070.71 | 3,690.93 | 3,929.82 |
Durlax Top Surface IPO Quota allocation
- QIB Investors: 50% of the net issue
- Retail Investors: 35% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for Durlax Top Surface
- Subscription Period: 19 June 2024 to 21 June 2024
- Basis of Allotment Finalization: 24 June 2024
- Initiation of Refunds: 25 June 2024
- Demat Credits: 25 June 2024
- Listing Date: 26 June 2024
- Listing on: NSE SME
