Durlax Top Surface SME IPO Opens On 19 June
The net proceeds from the IPO will be utilised for working capital requirements and general corporate purposes
Durlax Top Surface, specialising in manufacturing solid surface materials declared its plan to go public with an Initial Public Offering (IPO) on 19 June. The company is aiming to raise Rs 40.80 crore at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
The fresh issue size is 42,00,000 equity shares and offer for sale (OFS) is 18,00,000 at face value of Rs 10 each.
The net proceeds from the IPO will be utilised for working capital requirements and general corporate purposes.
The bidding for the Anchor portion will open on 18 June and the issue will open for subscription for all other categories from 19 June and close on 21 June.
The book running lead manager to the issue is Expert Global Consultants, while the registrar to the issue is Bigshare Services.
Shravan Suthar, Chairman and Managing Director of Durlax Top Surface expressed, "Our decision to launch our IPO marks a pivotal moment for Durlax Top Surface. This move is driven by our commitment to expanding our operations and meeting the growing demand for our premium solid surface materials.”
Through brands like LUXOR and ASPIRON, we aim to continue providing durable and stylish solutions across diverse industries, both locally and internationally, he added.
Gaurav Jain, Founder and Director of Expert Global Consultants said, "The solid surfaces industry in India, particularly the countertop segment, is poised for substantial growth driven by increasing consumer preference for higher-quality materials. This trend is mirrored in the expanding home decor market, which benefits from rising disposable incomes and a burgeoning e-commerce landscape.”
