Thursday, April 18, 2024

Speciality Fine Chemicals Company, Kronox Lab Sciences gets SEBI nod to float IPO

Vadodara based Kronox Lab Sciences (“Kronox” or “Company”), manufacturer of high-purity speciality fine chemicals, has received capital markets regulator Sebi's nod to launch Initial Public Offering (IPO).

Under the Offer for Sale, up to 96 lakhs equity shares will be offloaded jointly by the promoters namely Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani. The offer represents upto 26 per cent of the paid-up equity share capital of Kronox Lab Sciences.

Kronox’s High Purity Speciality Fine Chemicals portfolio has more than 185 products. The products are used mainly for applications across pharmaceuticals, nutraceuticals, biotech, food, animal health, scientific research, agrochemicals, personal care, amongst others. Kronox exports to more than 20 countries with major exports to USA, United Kingdom, Mexico, Australia, Egypt.

The Company has 3 manufacturing facilities and Research, Development and Testing (“RDT”) laboratory, situated in Vadodara, Gujarat. Additionally, the Company has acquired land at Dahej, Gujarat to set up a new manufacturing plant. The Company has more than 120 products under various phases of research and development.

Completely debt free business, Kronox works at more than 15% Post tax profit margin. Interestingly, Kronox has a formidable track record of two buy backs and a bonus issue in the previous five financial years.

For Fiscal 2023, Kronox generated consolidated revenue from operations of Rs. 95.6 crores growing at CAGR of 23.70% over Fiscal 2021 to 2023. The Company had EBITDA of Rs. 22.0 crores and EBITDA margin of 23.01%. The Company’s profit after tax for Fiscal 2023 was Rs. 16.6 crores with PAT margin of 17.04%. The Company’s Return on Equity (RoE) and Return on Capital Employed (RoCE) stood at 37.2% and 49.9% respectively for Fiscal 2023.

Kronox Lab Sciences, which filed draft red herring prospectus dated January 25, 2024 with the market regulator Sebi, obtained its observation letter on April 12, 2024, an update with the Securities and Exchange Board of India (Sebi) showed.

Pantomath Capital Advisors Private Limited is the sole book-running lead manager. The Company’s equity shares are proposed to be listed on the BSE and NSE.

JNK India Limited’s Initial Public Offering to open on Tuesday, April 23rd, 2024, price band set at ₹395 /- to ₹415/- per Equity Share

Price Band of ₹395 /- to – ₹415/- per equity share bearing face value of ₹2/- each (“Equity Shares”)
Bid/Offer Opening Date – Tuesday, April 23rd, 2024 and Bid/Offer Closing Date – Thursday, April 25th, 2024.
Minimum Bid Lot is 36 Equity Shares and in multiples of 36 Equity Shares thereafter. 
The Floor Price is 197.50 times the face value of the Equity Share and the Cap Price is 207.50 times the face value of the Equity Share

Mumbai, April 18, 2024: JNK India Limited is in the business of manufacturing the process-fired heaters, reformers, and cracking furnaces (together, the “Heating Equipment”) that are required in process industries such as for oil and gas refineries, petrochemical and fertilizer industries. , has fixed the price band of ₹395/- to ₹415/- per Equity Share of face value ₹2/- each for its initial public offer. 

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, April 23rd, 2024, for subscription and close on Thursday, April 25th, 2024. 

Investors can bid for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter. 

The issue consists of a fresh issue of ₹ 3,000.00 million and offer for sale (OFS) of up to 8,421,052 Equity Shares from promoter selling shareholders and individual selling shareholder.
The Company have capabilities in thermal designing, engineering, manufacturing, supplying, installing, and commissioning heating equipment and caters to both domestic and overseas markets. (Source: F&S Report). Over the years the Company has diversified into flares and incinerator systems and have been developing capabilities in the renewable sector with green hydrogen. The Heating Equipment are required in process industries such as oil and gas refineries, petrochemicals, fertilizers, hydrogen and methanol plants etc.
As of December 31, 2023, it has served 21 customers within India 8 customers overseas. In India, it has completed projects in, amongst others, Andhra Pradesh, Assam, Bihar, Karnataka, Kerala, Maharashtra, Tamil Nadu, West Bengal and globally have completed projects in Nigeria and Mexico. Further, it has ongoing projects in Gujarat, Odisha, Haryana, Rajasthan in India and globally in Oman, Algeria, and Lithuania. Further, it has successfully completed projects in far-reaching locations which included projects in India at at Numaligarh, Assam; Kochi, Kerala; Barauni, Bihar; and overseas at Lagos, Nigeria.
Some of thedomestic customers include Indian Oil Corporation Limited, Tata Projects Limited, Rashtriya Chemicals & Fertilizers Limited, and Numaligarh Refinery Limited. Further the Company has catered to overseas customers such as a leading engineering, procurement and construction (“EPC”) company in Europe, a leading oil & gas exploration & production company in Oman and a middle east arm of European EPC company in oil and gas. Since its inception, the Company have been working closely with JNK Global Co. Ltd (formerly known as JNK Heaters Co. Ltd) , a KOSDAQ-listed company. JNK Global Co. Ltd (formerly known as JNK Heaters Co. Ltd) is oneof the corporate promoters of the Company, holding a 25.79% as of the date of the the Red Herring Prospectus. 
The Company operates an in-house fabrication facility at the Mundra Special Economic Zone in Gujarat, spreads over approximately 20,243 square meters with an installed capacity of 5,000 metric tonnes of fabrication and modularization per annum. 
As on December 31, 2023, it had an order book of ₹ 8,450.27 million
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.
Disclaimer: JNK INDIA LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated April 15, 2024 with the RoC. The RHP is made available on the website of the SEBI at as well as on the website of the BRLMs i.e., IIFL Securities Limited at and ICICI Securities Limited at, the website of the NSE at and the website of the BSE at and the website of the Company at Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section titled “Risk Factors” beginning on page 31 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but can only rely on the information included in the Red Herring Prospectus.
The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U. S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made.
LISTING: The Equity Shares offered through the RHP are proposed to be listed on the Stock Exchanges. Our Company has received in-principle approvals from BSE and NSE for listing of the Equity Shares pursuant to their letters dated November 29, 2023 and November 30, 2023, respectively. For the purposes of the Offer, NSE shall be the Designated Stock Exchange. A signed copy of the RHP has been filed with the RoC and the signed copy of the Prospectus shall be filed with the RoC in accordance with Section 26(4) of the Companies Act, 2013. For details of the material contracts and documents available for inspection from the date of the RHP up to the Bid/Offer Closing Date, see “Material Contracts and Documents for Inspection” on page 445 of the RHP.
DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 359 of the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 361-362 of the RHP for the full text of the disclaimer clause of BSE.
DISCLAIMER CLAUSE OF NSE (the Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 362 of the RHP for the full text of the disclaimer clause of NSE.

Beauty Garage Professional witnesses 60% growth year on year, coupled with a 0.1% market capture

Mumbai…April 17, 2024…Beauty Garage Professional, a true made-in-India brand reinventing the hair care industry, proudly announces its remarkable 60% year-on-year growth and 0.1% capture of the market share in India. This achievement coincides with the brand's recent reception of the prestigious National Feather Awards in the Best Hair Care Product Manufacturing category. Founded in 2017 by Mahesh and Jigar Ravaria, Beauty Garage Professional has swiftly ascended to become a leading name in the hair care business, embodying the spirit of innovation and resilience.
Committed to delivering excellence, Beauty Garage Professional focuses on crafting high-quality, safe, and technologically advanced products tailored for diverse hair types. The company's unwavering dedication to customer satisfaction is evident in its comprehensive range of hair care solutions designed to repair, restore, and revitalize hair.
Today, Beauty Garage Professional boasts a diverse portfolio comprising over 100 SKUs across six distinctive series, including K9 Botoplexx, Botoliss, Botosmart, Shea, Shea Curls, and ScalpSense. Each product reflects the company's core values of innovation, reliability, quality, trust, and competence, proudly representing a 'make in India' brand.
Mr. Mahesh Ravaria, Co-Founder and CEO of Beauty Garage Professional said, “At Beauty Garage Professional, we envisioned a brand that not only delivers exceptional hair care solutions but also represents the spirit of innovation and resilience that defines the 'make in India' ethos. Our journey from 2017 to now is a testament to our unwavering commitment to excellence and customer satisfaction. Today, Beauty Garage Professional is actively serving the INR 2000 crore hair treatment market and INR 5000 crore hair spa market in India, firmly establishing our leadership in the industry." 
Mr. Jigar Ravaria, Co-Founder of Beauty Garage Professional said "We are proud to have created a diverse portfolio of high-quality, technologically advanced products that cater to the diverse needs of our customers worldwide. With ScalpSense and the Shea Collagen Hair Filler Treatment, we are not just setting new standards; we are revolutionizing the way people perceive hair care." 
With FDA-approved products renowned for their cutting-edge technology, Beauty Garage Professional has expanded its footprint to over 32 countries, setting new standards in the global salon industry. The company's relentless commitment to research and development ensures a continuous stream of innovative products that cater to evolving customer needs.
In a groundbreaking move towards scalp health, Beauty Garage Professional unveiled ScalpSense, the world's first five-step product series designed to address a wide range of scalp concerns. Additionally, the company introduces the Shea Collagen Hair Filler Treatment, setting a new standard in hair rejuvenation with its transformative effects.
As Beauty Garage Professional continues to redefine hair care standards, its commitment to empowering professionals and customers alike remains unwavering. With a profound love for hair at its core, the company is dedicated to providing comprehensive solutions that repair, restyle, and revitalize hair, empowering individuals to achieve their hair goals with confidence and flair.
About Beauty Garage Professional

Beauty Garage Professional is transforming a multi-million dollar Hair Care Sector and reinventing hair and scalp health with groundbreaking products and a top-notch distribution network. It’s a truly Made in India success story with the only Indian company manufacturing products and introducing innovative treatments such as Hair Botox. With a dedicated team engaged in continuous product research and technology exploration, the company has a remarkable growth story in the thriving Indian haircare market.

Beauty Garage is a dynamic and influential player in the beauty industry, poised for continued success on both domestic and international fronts led by dynamic founders, Mahesh and Jigar Ravaria who established the company in 2017. The company stands out with a compelling competitive edge in the hair treatment market with strategic expansion plans of establishing a global presence with a focus on key regions such as the Middle East and the United States. The company’s strong network comprises over 100 distributors, supported by a dedicated team of 150 field Professionals, including both sales and technicians.

Beauty Garage Professional is at the forefront of innovation, delivering high-end quality products in more than 32 countries. Its worldwide distribution and FDA approval positions it as a winning player in the market revolutionising the Indian Salon Industry with flawless rich hair care products. The remarkable R&D teams are tirelessly working to develop innovative products for hair care and treatment.
The company's primary focus is on reinventing hair care, and collaborating with hairdressers to develop solutions and services at the forefront of the industry. With the core ethos centered around a profound love for hair, the company aims to provide comprehensive hair care solutions that repair and restyle hair post-treatment damage. At Beauty Garage Professional, the absolute dedication to the art of hair care shines through, empowering Professionals and customers alike to achieve their hair goals with confidence and flair.

Today, Beauty Garage Professional showcases a diverse collection of 100+ SKUs and six distinctive series, including K9 Botoplexx, Botoliss, Botosmart, Shea, Shea Curls, and ScalpSense using the high-end, advanced technology to create all the products designed to satisfy the customers. The safest ingredients are curated and treated in the safest environment to obtain the best results. With strong partnerships with salons across India, Beauty Garage 

caters to the rising beauty consciousness as people are investing more in hair & scalp care, and solutions to enhance their appearance and wellbeing.

Tuesday, April 16, 2024

प्रेम आणि नात्याचा अनुबंध उलगडणारा ‘लेक असावी तर अशी’चित्रपटाचा लक्षवेधक ट्रेलर मान्यवरांच्या उपस्थितीत प्रदर्शित


आपण आपल्या आयुष्यात वेगवेगळी नाती जपतो. सुख दुःखाच्या प्रसंगी याच नात्याची सोबत आपल्याला मिळत असते. नात्यांचे महत्त्व पटवून देणारा आणि लेकीची माया दाखवून देणारा 'लेक असावी तर अशी' हा मराठी चित्रपट २६ एप्रिलला आपल्या भेटीला येतोय. 'ज्योती पिक्चर्स' निर्मित आणि एव्हरेस्ट एंटरटेनमेन्टची प्रस्तुती असलेल्या 'लेक असावी तर अशी या चित्रपटाच्या निर्मितीची आणि दिग्दर्शनाची धुरा विजय कोंडके यांनी सांभाळली आहे. १९९१ मध्ये प्रदर्शित झालेल्या 'माहेरची साडी' चित्रपटाच्या अपूर्व यशानंतर निर्माता-दिग्दर्शक विजय कोंडके ३४ वर्षानंतर 'लेक असावी तर अशी' या चित्रपटाच्या निमित्ताने नात्यातील प्रेमाचे पदर उलगडून दाखविण्यास सज्ज झाले आहेत. 

या चित्रपटाचा ट्रेलर अनावरण सोहळा नुकताच कलाकार, तंत्रज्ञ यांच्या उपस्थितीत दिमाखात संपन्न झाला.‘लेक असावी तर अशी' चित्रपटात नयना आपटे, सविता मालपेकर, शुभांगी गोखले, यतीन कार्येकर, अभिजीत चव्हाण, प्राजक्ता हनमघर, ओंकार भोजने, कमलेश सावंत, सुरेखा कुडची या लोकप्रिय कलाकारांच्या भूमिका आहेत. सोबत गार्गी दातार हा नवा चेहरा झळकणार आहे. 

‘चित्रपटातील कुटुंबाच्या प्रेमाच्या नात्यांचा प्रवास आपल्याला बरंच काही शिकवून जाईल’, असा विश्वास दिग्दर्शक विजय कोंडके यांनी याप्रसंगी व्यक्त केला. ‘विजय कोंडके यांचा चित्रपट’ आणि ‘उत्तम टीम’यामुळे चित्रपट करायला लगेच होकार दिला, असं सांगताना हा कौटुंबिक चित्रपट प्रत्येकाच्या मनात नक्कीच घर करेल असा विश्वास अभिनेत्री नयना आपटे, सविता मालपेकर आणि अभिनेते कमलेश सावंत यांनी यावेळी व्यक्त केला. मध्यवर्ती भूमिका देतानाच विजय सरांनी दाखवलेला विश्वास माझ्यासाठी मोलाचा होता, असं अभिनेत्री गार्गी दातार हिने सांगितलं. 

'लेक असावी तर अशी' चित्रपटाची कथा-पटकथा-संवाद विजय कोंडके यांची आहे. छायांकन के अनिकेत तर संकलन सुबोध नारकर यांचे आहे. विजय कोंडके आणि मंगेश कांगणे यांच्या गीतांना संगीतकार मनोहर गोलांबरे यांनी संगीत दिले आहे. वैशाली सामंत, अवधूत गुप्ते, मंदार आपटे, देवश्री मनोहर, स्वरा बनसोडे यांचा स्वरसाज गीतांना लाभला आहे. नृत्यदिग्दर्शन सुजीत कुमार तर कलादिग्दर्शन सतीश बिडकर यांचे आहे. कार्यकारी निर्माते सिद्धेश्वर नंदागवळे आहेत. 

‘लेक असावी तर अशी’ चित्रपट २६ एप्रिलला राज्यभरात प्रदर्शित होत आहे.