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Durlax Top Surface Ltd IPO

Durlax Top Surface Limited is engaged in the business of manufacturing of solid surface material, which is sold across India, through an extensive distribution network of distributors and direct customers and also exported to various countries such as Dubai, Qatar, Greece, Sri Lanka. The Company operates through two brands namely LUXOR and ASPIRON, which provide a wide range of solid surfaces known for their aesthetics and performance. Its LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON offers Modified Solid Surfaces. Both brands offer seamless designs, anti-bacterial properties, and fire-retardant features, ensuring a comprehensive selection of high-quality solid surfaces.

Durlax Top Surface Ltd IPO Details

Total Shares Offered

₹ 60,00,000

Offer to Public

18,00,000

Retail Max (Shares)

₹ 20,00,000

Pre Issue Promoters Holding

₹ 1,01,14,528

Exchange

NSE

Issue size

₹ 40.8 Cr

IPO Open Date

Jun 19, 2024

Close Date

Jun 21, 2024

Lot Size

2000

Min Investment

₹ 1,30,000

Issue Type

Book Building - SME

Listing Date

Jun 26, 2024

Durlax Top Surface Ltd IPO Dates

Jun 19, 2024

Opening date

Jun 21, 2024

Closing date

Jun 24, 2024

Basis of Allotment

Jun 25, 2024

Initiation of Refunds

Jun 25, 2024

Credit of Shares

Jun 26, 2024

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	2844000
NII	0x	856000
Retail	0x	2000000
Employee	0x	0
Total	0x	6000000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

2844000

856000

2000000

6000000

Durlax Top Surface Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	12.42	6.36	4.48
EBITDA	14.87	8.60	6.09
PAT	7.50	3.99	2.63
Total Assets	91.81	83.82	56.53
Share Capital	16.63	12.43	12.40
Total Borrowings	44.43	43.81	20.97
Operating Activities (Net Cash)	9.95	6.23	4.24
Investing Activities (Net Cash)	0.48	0.48	0.00
Financing Activities (Net Cash)	44.43	43.81	20.97
Net Cashflow	1.15	1.23	0.98

About Durlax Top Surface Ltd

Durlax Top Surface Limited was originally incorporated as Durlax Archtech Private Limited on May 03, 2010 as a private limited company under the provisions of Companies Act, 1956 pursuant to Certificate of Incorporation issued by RoC, Maharashtra, Mumbai. Further, the name of the company was changed to Durlax India Private Limited vide the Certificate of Incorporation pursuant to change of name dated August 23, 2017 issued by RoC, Mumbai. Subsequently, the name was changed to Durlax Top Surface Private Limited vide Certificate of Incorporation pursuant to change of name dated January 06, 2023 issued by RoC, Mumbai. The Company was converted into a public limited company pursuant to shareholders resolution passed at the General Meeting of our Company held on January 27, 2023 and the name of the Company was changed to Durlax Top Surface Limited and a Fresh Certificate of Incorporation dated March 29, 2023 was issued by RoC, Mumbai. The Corporate Identification Number of the Company is U74999MH2010PLC202712.

The most recent research report on the global Corian Acrylic Solid Surface Market from 2023 to 2029 offers a comprehensive overview of the market, highlighting current trends, demand, and recent advancements that are anticipated to impact market growth in the near future. The report delves into various aspects including new business opportunities, pricing, revenue generation, gross margin, market size, market share, growth potential, and upcoming strategies employed by leading players. Additionally, it provides detailed profiles of major companies operating in the market, with a focus on market size for different product types (Casting Molding Solid Surface, Extrusion Molding Solid Surface), applications (Hospitals, Hotels), and geographical regions. The report also analyses the competitive landscape, current status, and emerging trends in the industry.

Peer Comparison:

Kaka Industries Ltd
Dhabriya Polywood Ltd
Pokarna Ltd

Durlax Top Surface Ltd Key Points

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.

Risk

The company is dependent on a few customers for a major part of its revenues. Further the company does not enter into long-term arrangements with its customers and any failure to continue its existing arrangements could adversely affect the company's business and results of operations.

The company does not have long term agreements with suppliers for its raw materials and an increase in the cost of or a shortfall in the availability of such raw materials could have an adverse effect on its business, results of operations and financial condition.

Under-utilization of its production capacities could have an adverse effect on its business, future prospects and future financial performance.

Strategy

Continue to add to product portfolio by introducing new designs.

Further expand its distribution network across India and globally.

Continue to drive business based on people-centric policies and practices.

To increase brand visibility.

How To Apply for Durlax Top Surface Ltd IPO Online?

Step 1:

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Durlax Top Surface Ltd IPO?

Durlax Top Surface Ltd's IPO offers shares for up to 28.56 It begins on Jun 19, 2024 and ends on Jun 21, 2024.

What is the price of the Durlax Top Surface Ltd IPO?

The price of Durlax Top Surface Ltd IPO ranges between ₹65 to ₹68 per share.

What are the open and close dates for the Durlax Top Surface Ltd IPO?

The Durlax Top Surface Ltd IPO opens on Jun 19, 2024 and closes on Jun 21, 2024.

When will the Durlax Top Surface Ltd IPO be allotted?

The allotment for the Durlax Top Surface Ltd IPO will be finalised on Jun 24, 2024. The shares will be listed on BSE and NSE on Jun 26, 2024.

What is the minimum lot size required for Durlax Top Surface Ltd IPO?

The minimum lot size for Durlax Top Surface Ltd IPO is 2000 shares, priced between ₹65 to ₹68 per share.

What is the GMP of Durlax Top Surface Ltd IPO?

The GMP (Grey Market Premium) of Durlax Top Surface Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Durlax Top Surface Ltd IPO?

To check the allotment status of Durlax Top Surface Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Durlax Top Surface Ltd IPO getting listed?

The Durlax Top Surface Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jun 19, 2024, and closes on Jun 21, 2024. The allotment is finalised on Jun 24, 2024.

How do you apply for the Durlax Top Surface Ltd IPO?

To apply for the Durlax Top Surface Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.