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Durlax Top Surface IPO
Price Band
₹65.0–68.0
Issue Size
₹40.8 Cr
Lot Size
2,000 shares
Min Investment
₹136,000
GMP
+₹64.0 (94.12%)
Issue Price
₹68.0
Subject to Sauda
₹97300
Paid only if allotted
Durlax Top Surface IPO AI Summary
- Durlax Top Surface IPO is listed on NSE SME in the Furniture, Home Furnishing sector.
- Price band: ₹65.0–₹68.0 per share, lot size 2,000 shares (min. investment ₹136,000).
- Subscription window: 19 Jun–21 Jun 2024, listing on 26 Jun 2024.
- Current GMP is +₹64.0 (94.12%), an estimated listing price of ₹132 — unofficial and can change daily.
Durlax Top Surface Limited is entering the market with a strong growth trajectory in revenue and profitability. With a focus on solid surface materials and a robust brand presence, the company aims to leverage the IPO proceeds for working capital and general corporate purposes. Investors should consider their risk tolerance and investment strategy before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Durlax Top Surface IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 21 Jun 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Durlax Top Surface IPO Grey Market Premium (GMP) Today
GMP
+₹64.0
GMP %
+94.12%
Est. Listing
₹132.0
Updated: 25 Jul 2026 14:05
About the Company
Established in 2010, Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, manufactures solid surface materials that are sold across India. The company has two brands, namely LUXOR and ASPIRON. The LUXOR brand offers acrylic UV solid sheets while ASPIRON offers modified solid sheets. Both brands offer seamless designs, antibacterial and fire-retardant properties, ensuring a comprehensive range of high-quality solid sheets. The products are used in residential, commercial, hospitality, healthcare, outdoor and various other industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects and more. The company's manufacturing facility is located in Vapi, Gujarat. As of September 25, 2023, the company employed 70 people.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 105.54 | 76.73 | 71.68 |
| Total Income | 90.84 | 66.84 | 47.42 |
| Profit After Tax | 5.05 | 2.09 | 0.48 |
| NET Worth | 21.84 | 16.71 | 12.92 |
| Reserves and Surplus | 9.42 | 4.31 | 12.77 |
| Total Borrowing | 60.71 | 36.91 | 39.30 |
Key Ratios
EPS
₹4.06
NAV
₹17.58
ROE
26.20%
ROCE
20.20%
RoNW
23.12%
P/B Value
3.87
P/E Ratio
16.73
Market Cap
₹113.07 Cr
PAT Margin
5.56%
Debt/Equity
2.78
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted | P/E (x) |
|---|---|---|---|---|---|
| Pokarna Ltd. | 38.63 | -5.63% | -1.03 | -1.03 | — |
| Dhabriya Polywood Ltd | 76.08 | 17.1% | 13.01 | 13.01 | 23.79 |
| Kaka Industries Ltd | 37.69 | 25.25% | 10.34 | 10.34 | 17.53 |
| Durlax Top Surface Limited This IPO | 17.58 | 23.12% | 4.06 | 4.06 | — |
Promoters
Shravan Suthar and Lalit Suthar
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Part finance to meet the working capital requirements 17.50 2 General corporate purposes 6.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹47.42 Cr in the year ending 31 Mar 2022 to ₹66.84 Cr by 31 Mar 2023, and further rose to ₹90.84 Cr by 31 Mar 2024. This indicates a consistent upward trend in revenue over the three periods.
Profit Trend
Profit After Tax grew from ₹0.48 Cr in the year ending 31 Mar 2022 to ₹2.09 Cr by 31 Mar 2023, and reached ₹5.05 Cr by 31 Mar 2024. This shows a significant increase in profitability across the periods.
Valuation
Durlax Top Surface Limited has an EPS of ₹4.06 and is priced at a P/E ratio of 16.73 at the issue price. This is compared to peers like Dhabriya Polywood Ltd with a P/E of 23.79 and Kaka Industries Ltd with a P/E of 17.53.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium of an IPO over its issue price in the grey market before listing. A higher GMP suggests strong demand for the stock, while a lower or negative GMP may indicate weak demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and company fundamentals.
Who May Want to Wait
Investors with a low-risk tolerance or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to significant price fluctuations following listing.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market sentiment, demand for the stock, and overall market conditions. While some investors may profit on the listing day, others may face losses if the stock price declines.
This evaluation is generated from Durlax Top Surface's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Durlax Top Surface IPO GMP today?
Durlax Top Surface IPO GMP today is +₹64.0 (94.12%), indicating an estimated listing price of ₹132. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Durlax Top Surface IPO?
The price band of Durlax Top Surface IPO is ₹65.0–₹68.0 per share.
When does Durlax Top Surface IPO open and close?
Durlax Top Surface IPO opens on 19 June 2024 and closes on 21 June 2024.
When does Durlax Top Surface IPO list on the stock exchange?
Durlax Top Surface IPO listed on 26 June 2024 at ₹132.0.
What is the lot size for Durlax Top Surface IPO?
The lot size for Durlax Top Surface IPO is 2000 shares, requiring a minimum investment of ₹136,000.
What is the price band for the Durlax Top Surface IPO?
The price band for the Durlax Top Surface IPO is ₹65.0 to ₹68.0.
What is the minimum investment required?
The minimum investment required is ₹136,000, which corresponds to a lot size of 2000 shares.
When does the IPO open and close?
The IPO opens on June 19, 2024, and closes on June 21, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO over its issue price in the grey market.
When is the listing date for the IPO?
The listing date for the Durlax Top Surface IPO is June 26, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Jun 2024
Close
21 Jun 2024
Allotment
24 Jun 2024
Listing
26 Jun 2024
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