Invest in IPOs for potential earnings, Cronex Labs Sciences IPO GMP on 3 June.

🚀 IPO GMP 01 JUNE 2024 📈

📈 Share market not only offers opportunities to earn money through buying and selling shares, but also through investing in IPOs. In recent years, many companies have entered the market through IPOs, with more gearing up to do so in the coming days. Amidst the current instability in the domestic market due to elections, a new IPO is set to launch next week, receiving a strong response in the grey market.

📅 Cronex Lab Sciences Limited’s IPO is set to hit the market on 3 June. The company will not issue any new stock in the IPO, instead offering 9,570,000 shares for sale by the promoters and existing investors. The shares of Cronex Lab Sciences are trending at a premium in the grey market ahead of the IPO, indicating potential benefits for investors upon listing.

💊 Cronex Lab Sciences Limited, based in Gujarat, specializes in producing high-purity specialty microchemicals for industries such as pharma, agrochemicals, personal care, metal refining, and animal health products. It sells over 185 products in more than 20 countries, including phosphates, sulfates, acetates, chlorides, citrates, nitrates, carbonates, and gluconates. The company’s profit for the first nine months of FY24 increased by 9.8% annually to ₹15.5 crore, while revenue decreased by 8.7% to ₹67.7 crore during the same period.

💰 Cronex Lab Sciences IPO has priced its band at ₹129-136 per share, with a minimum of 110 shares in each lot. This means an investor would need to bid ₹14,960 for a lot at ₹136 per share, while retail investors can bid for a maximum of 13 lots, i.e., 1,430 shares. Therefore, a maximum investment of ₹1,94,480 can be made in the IPO.

🔍 The unlisted shares of Cronex Lab Sciences are receiving a good response in the grey market. According to IPO Watch, before the IPO opens, the company’s shares have reached a premium of 58.82% or ₹80 in the grey market. With this, the company could be listed at ₹216 based on the upper price band of ₹136.

Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.