IPO

Durlax Top Surface Limited IPO

NSE SME

Listed On: Jun 26, 2024 at ₹ 109.0

₹ 272000 /4000 Shares
*Min Investment

Check Allotment

19 Jun, 2024

Open Date

21 Jun, 2024

Close Date

24 Jun, 2024

Allotment Date

26 Jun, 2024

Listing Date
Durlax Top Surface Limited IPO Issue Details
  • Issue Price ₹65-68 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 60,00,000 shares(aggregating up to ₹40.8 crore)
  • Fresh Share 42,00,000 shares(aggregating up to ₹28.56 crore)
  • Offer For Sale 18,00,000 shares(aggregating up to ₹12.24 crore)
  • Listing at NSE SME
  • List Price 109.0
  • Listing Date 2024-06-26
  • Lead Manager Expert Global Consultants Private Limited
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)12000₹1,36,000
Retail(max)12000₹1,36,000
NII (min) 24,000₹2,72,000
Durlax Top Surface Limited IPO Reservation

Durlax Top Surface Limited IPO offers total 6,000,000 shares. Out of which 2,252,000 (37.53%) allocated to QIB, 856,000 (14.27%) allocated to NII,2,000,000 (33.33%) allocated to RII, NA (NA%) allocated to employees and 592,000 (9.87%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered592,000 (9.87%)
Market Maker Shares Offered300,000 (5%)
QIB Shares Offered2,252,000 (37.53%)
NII (HNI) Shares Offered856,000 (14.27%)
Retail Shares Offered2,000,000 (33.33%)
Total Shares Offered6,000,000 (100%)
Durlax Top Surface Limited IPO Documents
DRHP
RHP
Durlax Top Surface Limited IPO Details


Durlax Top Surface Limited IPO is an SME IPO, priced at ₹65-68 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 60,00,000 equity shares, aggregating up to ₹40.8 crores..

The IPO bidding window is open from Jun 19, 2024 to Jun 21, 2024. The allotment is expected to be finalized on Jun 24, 2024, and the tentative listing date is Jun 26, 2024.

The minimum lot size for Retail investors is 2000 shares, with a minimum investment of ₹1,36,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,72,000.

Expert Global Consultants Private Limited is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Globalworth Securities Limited will act as the market maker for this issue.

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Durlax Top Surface Limited IPO Subscription Analysis And Details
Retail
193.95x
Total
166.79x
As onQIB / NIIRetailTotal
Shares Offered / Reserved2,252,000 / 856,0002,000,0005,108,000
Day 1 19-06-24 06:00 PM
2.28 / 5.16 x10.53 x5.99 x
Day 2 20-06-24 06:00 PM
2.94 / 11.16 x28.48 x14.32 x
Day 3 21-06-24 06:00 PM
48.29 / 415.06 x193.95 x166.79 x
Total No of Applications
1,93,949
Durlax Top Surface Limited Valuations
EPS Pre IPO ₹4.06/-
EPS Post IPO ₹3.04/-
P/E Pre IPO 16.73
P/E Post IPO 22.39
ROE 26.20%
ROCE 20.20%
Debt/Equity 2.78
RoNW 23.12%
PAT Margin 5.56
Price to Book Value 3.87
Durlax Top Surface Limited Company Financials
In Lakhs
In Lakh
31-Mar-2431-Mar-2331-Mar-22
Assets10,553.507,782.047,205.30
Revenue9,083.936,684.204,741.81
Profit After Tax505.07262.5980.66
Net Worth2,184.381,671.211,292.27
Reserves & Surplus941.61431.141,277.29
Total Borrowing6,070.713,690.933,929.82
About Durlax Top Surface Limited Company

Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, was established in 2010. The company manufactures solid surface materials that are sold across India.

The company has two brands: LUXOR and ASPIRON. The LUXOR brand comes with acrylic UV solid sheets and ASPIRON modified solid sheets, both coming in seamless designs and antibacterial properties, making sure that a high-quality solid sheet is given. Their products serve residential, commercial, hospitality, healthcare, outdoor, and more, providing stylish as well as durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and much more.

The company manufacturing plant is situated at Vapi, Gujarat. As of 25 September 2023, the company employed 70 workers.

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Durlax Top Surface Limited - Promoter(s)

Mr. Shravan Suthar

Mr. Lalit Suthar

Pre Issue Share Holding : 95.44%

Post Issue Share Holding : 60.35%

Durlax Top Surface Limited IPO - Issue Objectives
1

Part finance the working capital requirements

2

General corporate purposes

3

To meet the offer expenses.

Durlax Top Surface Limited IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Durlax Top Surface Limited4.064.0617.58N/A23.123.87Standalone
Kaka Industries Ltd10.3410.3437.6917.5325.25N/AStandalone
Dhabriya Polywood Ltd13.0113.0176.0823.7917.1N/AStandalone
Pokarna Ltd.-1.03-1.0338.63N/A-5.63N/AStandalone

Notes:

  1. P/E Ratio has been computed based on the closing market price of equity shares on the BSE website on June 10, 2024, divided by the Diluted EPS for the financial year ended March 31, 2024.
  2. RoNW is computed as net profit after tax divided by the closing net worth. Net worth has been computed as the sum of share capital and reserves and surplus.
  3. NAV is computed as the closing net worth divided by the outstanding number of equity shares.
Contact Details

Durlax Top Surface Limited

301, Jaisingh Commonspace, Dayal Das Road, FP362, W.E., Highway, Vile Parle (East), Mumbai – 400 057

+91-75067 99831

cs@durlaxindia.com

https://www.durlax.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html