Kronox Lab Sciences files draft papers with Sebi for IPO

Kronox Lab Sciences has filed a draft-red herring prospectus (DRHP) with the capital markets regulator Sebi for its proposed initial public offering (IPO). The Vadodara-based company is a manufacturer of high-purity fine chemicals. The company is eyeing raising Rs 150-180 crore via its initial stake sale. According to the DRHP, Kronox's IPO will include a fresh share sale of Rs 45 crore and an offer for sale (OFS) of up to 78,00,000 equity shares by its promoters namely Jogindersingh Jaswal, Ketan Ramani, and Pritesh Ramani, who will offload up to 26,00,000 equity shares each in the OFS.