IPO Details
Bidding Dates
19 Jun 24 - 21 Jun 24
Price Range ₹
65 - 68
Total Equity
₹ 40.80Cr
Lot Size
2000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
19 Jun 2024
Offer end
21 Jun 2024
Allotment
24 Jun 2024
Refund initiation
25 Jun 2024
Demat transfer
25 Jun 2024
Listing
26 Jun 2024
Offer start
19 Jun 2024
Offer end
21 Jun 2024
Allotment
24 Jun 2024
Refund initiation
25 Jun 2024
Demat transfer
25 Jun 2024
Listing
26 Jun 2024
About Company
Established in 2010, Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, specializes in manufacturing solid surface materials sold across India. The company markets its products under two brands: LUXOR and ASPIRON. The LUXOR brand offers acrylic UV solid sheets, while ASPIRON provides modified solid sheets. Both brands feature seamless designs, antibacterial properties, and fire-retardant qualities, ensuring a wide range of high-quality solid sheets. These products are utilized in various sectors, including residential, commercial, hospitality, healthcare, and outdoor industries, offering stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and more.
Year Founded
-0
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 95.71 | 60.35 |
| Share Capital | 11835701 | 10035701 |
Offer to Public
60,00,000.00 Cr
Project Details
- General corporate purposes - 60cr
- Part finance to meet the working capital requirements - 175cr
Objectives
- Part finance the working capital requirements.General corporate purposes.To meet the offer expenses.
Highlights
- The company's manufacturing facility in Vapi, Gujarat, is equipped with state-of-the-art German and South Korean technologies and advanced machinery, enabling the production of high-quality solid surface materials.
- Durlax Top Surface Limited holds ISO 9001:2015 and ISO 14001:2015 certifications, reflecting its commitment to quality management and environmental standards.
- In the fiscal year ending March 31, 2023, the company distributed its products across 21 states and 2 Union Territories in India, demonstrating a strong domestic presence. Additionally, it has an international presence in markets like Dubai, Saudi Arabia, Qatar, Greece, the USA, Sri Lanka, Nepal, and Thailand.
- The company offers products in various thicknesses (4 mm to 20 mm) and over 100 different shades and colors, catering to a wide range of customer preferences and applications across multiple industries.
- The company serves both distributors and direct customers, ensuring a broad reach and diversified customer base within the domestic market.
Challenges
- Durlax Top Surface relies heavily on a few key customers, with the top 10 customers contributing 71.24% in FY 2023, 70.97% in FY 2022, and 55.85% in FY 2021. Any loss or disruption involving these customers could significantly impact the company’s revenue.
- The company, its promoters, and directors are involved in several legal proceedings, with 19 cases amounting to Rs 18.47 crore. Adverse outcomes in these cases could negatively affect the company’s financial health and reputation.
- As of September 25, 2023, the company had total borrowings amounting to Rs 47.88 crore, including secured loans from banks and vehicle loans. Inability to service these debts could adversely impact the company's financial stability and operations.
- The company faces significant contingent liabilities. It must meet export obligations under the EPCG scheme and Advance Licenses Scheme, with potential customs duty payments of Rs 5.74 crore and Rs 1.78 crore, respectively, if it fails to meet these obligations.
- A significant portion of the company's revenue comes from the domestic market, accounting for 96.98% in 2023, 96.75% in 2022, and 98.37% in 2021. Adverse developments in the domestic market could have a substantial negative impact on the company's business.
