Durlax Top Surface IPO Review

 
Durlax Top Surface IPO Review

IPO Open Date: June 19, 2024

IPO Close Date: June 24, 2024

IPO Price: ₹65 to ₹68 per share

Lot Size: 2000 Shares

Listing: June 26, 2024

Durlax Top Surface is scheduled to hit the market on June 19, 2024 and close on June 21, 2024. Durlax Top Surface plans to raise around ₹40.80 Cr through an IPO with a sale of up to 6,000,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, has been operating since 2010, specializing in the production of solid surface materials distributed throughout India. Under its two distinct brands, LUXOR and ASPIRON, the company offers a wide range of acrylic UV solid sheets and modified solid sheets respectively. These products boast seamless designs, antibacterial, and fire-retardant properties, making them ideal for a variety of applications in residential, commercial, hospitality, healthcare, outdoor, and other sectors. From countertops to vanities, offices to hotels, the company's offerings provide stylish and durable solutions across different industries.

Situated in Vapi, Gujarat, the company's manufacturing facility serves as the hub for its operations. With a workforce of 70 individuals as of September 25, 2023, Durlax Top Surface Limited continues to deliver high-quality solid sheets that cater to the diverse needs of clients in various settings.

Durlax Top Surface



Durlax Top Surface IPO Details

Durlax Top Surface IPO opens on June 19, 2024, and closes on June 21, 2024. The Listing date for Durlax Top Surface IPO is on June 26, 2024. The price band for IPO is ₹65 to ₹68 per share and lot size of 2000 Shares.

IPO DateJune 19, 2024 to June 21, 2024
Listing DateJune 26, 2024
Price₹65 to ₹68 per share
Lot Size2000 Shares
Issue Size₹40.80 Cr
Face Value₹10 per share

Durlax Top Surface IPO Tentative Timetable

Durlax Top Surface opening date is June 19, 2024 and close date is June 21, 2024. The IPO allotment date is June 24, 2024. The refund initiation of IPO is on June 25, 2024. The credit of shares in demat account is on June 25, 2024. The listing date is on June 26, 2024.

EventDate
IPO OpeningJune 19, 2024
IPO ClosingJune 21, 2024
IPO Allotment DateJune 24, 2024
Refund InitiationJune 25, 2024
Shares Credit to DematJune 25, 2024
Lisiting DateJune 26, 2024

Durlax Top Surface IPO Lot Size

Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹136,000).

CategoryLotsSharesAmount
Retail(Minimum)12000₹136,000
Retail(Maximum)12000₹136,000
HNI (Minimum)22000₹272,000

Durlax Top Surface IPO Promoter Holding

Pre Issue Share Holding95.44%
Post Issue Share Holding60.35%

Durlax Top Surface IPO Review

Established in 2010, Durlax Top Surface Limited, previously known as Durlax Archtech Private Limited, is a prominent manufacturer of solid surface materials, catering to a diverse range of industries across India. The company operates under two primary brands: LUXOR and ASPIRON. LUXOR offers acrylic UV solid sheets, while ASPIRON provides modified solid sheets. Both brands are renowned for their seamless designs, antibacterial, and fire-retardant properties, making them suitable for a variety of applications. Durlax's products are widely used in residential, commercial, hospitality, healthcare, and outdoor projects, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, and more. The company's manufacturing facility is located in Vapi, Gujarat, and as of September 25, 2023, it employed 70 people.

Financially, Durlax Top Surface Limited has demonstrated substantial growth. The company’s revenue increased by 35.9% from Rs. 6,684.20 lakhs in FY23 to Rs. 9,083.93 lakhs in FY24, while its profit after tax (PAT) surged by 141.15% from Rs. 209.44 lakhs to Rs. 505.07 lakhs during the same period. As of March 31, 2024, the company’s assets stood at Rs. 10,553.50 lakhs, with a net worth of Rs. 2,184.38 lakhs and reserves and surplus of Rs. 941.61 lakhs. The company’s financial metrics are strong, with a return on equity (ROE) of 26.20%, return on capital employed (ROCE) of 20.20%, and a debt/equity ratio of 2.78. Despite a debt/equity ratio indicating high leverage, the company’s growth and profitability metrics suggest a solid financial footing. The company is seeking to raise funds through its IPO, aiming for a market capitalization of Rs. 113.07 crore.

The upcoming IPO will enable Durlax Top Surface Limited to fund its working capital requirements, support general corporate purposes, and cover offer-related expenses. The issue is priced with a pre-IPO EPS of 4.06 and a post-IPO EPS of 3.04, translating to a P/E ratio of 16.73x pre-IPO and 22.39x post-IPO. Although the P/E ratio indicates a relatively high valuation, the company’s strong growth trajectory and robust financial performance make it an attractive investment. Investors looking at the IPO should consider Durlax’s market position, quality product offerings, and significant growth in revenue and profits. The company’s focus on innovation and quality, combined with its strategic expansion plans, provides a compelling case for medium to long-term investment, promising substantial returns as the company continues to grow in the solid surface materials industry.

Durlax Top Surface IPO Subscription Status (Bidding Details)

Table not found

Durlax Top Surface IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Durlax Top Surface IPO FAQs

What is Durlax Top Surface IPO?

Durlax Top Surface is issuing 6,000,000 equity shares with a face value of ₹10 each, totaling up to ₹40.80 Cr. The shares are being offered at a price of ₹65 to ₹68 each, with a minimum order quantity of 2000 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Durlax Top Surface IPO will open?

Durlax Top Surface will open on June 19, 2024 for QIB, NII, and Retail Investors.

When Durlax Top Surface IPO will end?

Durlax Top Surface will end on June 21, 2024.

What is Durlax Top Surface IPO Size?

Durlax Top Surface IPO size is 40.80 Cr.

What is Durlax Top Surface IPO Price Band?

Durlax Top Surface price band is ₹65 to ₹68 per share.

What is the Durlax Top Surface IPO Allotment Date?

Durlax Top Surface allotment date is June 24, 2024.

What is the Durlax Top Surface IPO Listing Date?

Durlax Top Surface listing date is June 26, 2024. The IPO is to be listed on BSE and NSE.

How to Durlax Top Surface IPO through Zerodha?

To apply for the IPO “Durlax Top Surface” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Durlax Top Surface IPO through Upstox?

To apply for the IPO “Durlax Top Surface” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Durlax Top Surface IPO Allotment Status?

For Durlax Top Surface IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Durlax Top Surface IPO GMP?

You can check out here: Durlax Top Surface IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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