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Durlax Top Surface Limited IPO : All You Need To Know

Durlax Top Surface Limited IPO is set to launch on 19 June, 2024. The company was incorporated in 2010. It is engaged in the business of manufacturing solid surface material, which is sold across India, through an extensive distribution network of distributors, direct customers and also exported to various countries such as Dubai, Bahrain, Greece, Nepal. It operates through two brands namely LUXOR and ASPIRON, which provide a wide range of solid surfaces.

DTSL’s LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON offers Modified Solid Surfaces. Situated in Vapi, its manufacturing facility is equipped with German and South Korean technologies and advanced machinery to produce solid surface materials. The company aims to meet the ever-evolving demands of customers and create functional spaces across various sectors.

Other Information

Its solid surfaces find applications in residential, commercial, hospitality, healthcare, exterior, and diverse industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and more.

As of March 31, 2024, it had 120 vendors in India and 5 in neighbouring countries. Its domestic revenue share was 95.51% and international revenue share was 4.49% as of March 31, 2024 and has 69 employees on its payroll.

Durlax Top Surface Limited : IPO DETAILS

Durlax Top Surface Limited IPO is set to launch on 19 June, 2024. The subscription timeline extends till 21 June, 2024. The size for the IPO is Rs. 40.80 Crore. The issue is a combination of fresh issue of 42 lakh shares aggregating to Rs 28.56 crores and offer for sale of 18 lakh shares aggregating to Rs 12.24 crores. The lot size is 2000 shares and the price is Rs. 65 to Rs. 68 per share. The company is going to get listed at NSE SME Board. The face value per share is Rs. 10 and this is a Book Built Issue. The registrar for the company is Bigshare Services Pvt Ltd.

Tabular Description of Durlax Top Surface Limited IPO

IPO OPENING DATE	19 June, 2024
CLOSING DATE FOR IPO	21 June, 2024
ISSUE TYPE	Book Built Issue
Face Value per share	Rs. 10 per share
IPO price band	Rs. 65 to Rs.68 per share
LOT SIZE	2000 shares
MINIMUM ORDER QUANTITY	2000 shares
ISSUE SIZE	Rs. 40.80 Crore
OFFER FOR SALE	Rs. 12.24 Crore
FRESH ISSUE	Rs. 28.56 Crore
LISTING AT	NSE SME Board
LISTING DATE	26 June, 2024

Durlax Top Surface Limited IPO: IMPORTANT DATES

IPO OPENING DATE	19 June, 2024
CLOSING DATE FOR IPO	21 June, 2024
IPO ALLOTMENT DATE	24 June, 2024
REFUNDS	25 June, 2024
DEMAT A/C CREDITED ON	25 June, 2024
IPO LISTING DATE	26 June, 2024

Durlax Top Surface Limited IPO begins for subscription from 19 June, 2024. The IPO subscription would continue till 21 June, 2024. The allotment status for the shareholders who applied would come on 24 June, 2024. The refunds for the ones who did not get allotment would be initiated on 25 June, 2024. The DEMAT accounts of shareholders would be credited on 25 June, 2024. The listing of the company would be completed on 26 June, 2024.

Durlax Top Surface Limited IPO: Lead Managers

The lead managers are :

Expert Global Consultants Private Limited

The minimum and maximum lot size for retail investors is 2000 shares, amounting to Rs. 136000. The minimum lot size for HNI is 4000 shares, amounting to Rs. 272000.

	Lots	Shares	Amount
Retail (Minimum)	1	2000 shares	Rs. 136000
Retail (Maximum)	1	2000 shares	Rs. 136000
HNI (Minimum)	2	4000 shares	Rs. 272000

OBJECTIVES FOR THE IPO

Part finance the working capital requirements;
General corporate purposes; and
To meet the offer expenses.

COMPANY FINANCIALS

Particularly (in Rs. Lakhs)	2021-22	2022-23	2023-24
Asset	7168.11	7673.02	10553.50
Revenue	4741.81	6684.20	9083.93
PAT	48.42	209.44	505.07

Durlax Top Surface Limited had an asset base of Rs. 7168.11 Lakhs in 2022 which increased to Rs. 7673.02 Lakhs in 2023.The asset base of the firm was Rs. 10553.50 Lakhs as on March 2024. The revenue for the company was Rs. 4741.81 Lakhs in 2022, which increased to Rs. 6684.20 Lakhs in 2023. The revenue for the period ending March 2024 was Rs. 9083.93 Lakhs. The profit of the company increased from Rs. 48.42 Lakhs in 2022 to Rs.209.44 Lakhs in 2023. The profit generated for the period ending March 2024 was Rs. 505.07 Lakhs.

PROS

It posted steady growth in its top and bottom lines for the reported periods.
DTSL’s LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON offers Modified Solid Surfaces.
Its solid surfaces find applications in residential, commercial, hospitality, healthcare, exterior, and diverse industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and more

Durlax Top Surface Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
Click the Durlax Top Surface Limited IPO button and press the BID button.
Entering the details asked for like UPI ID, Quantity and price.
Submit the application form for the IPO.
Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.

dhairya@socialcoffee.in