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Going by the draft papers filed on Friday, the proceeds from the fresh issue will be utilized for funding the working capital requirements and general corporate purposes. Vadodara-based Kronox is a manufacturer of high-purity specialty fine chemicals. Its products find application in a wide spectrum of industries for diversified uses such as pharmaceutical formulations, active pharmaceutical ingredients, biotech, scientific research and testing, nutraceuticals, personal care, agrochemicals, animal health, metallurgy, amongst others.

“There can be an extra restriction only in a case where a critical illness happens and there is a waiting period. For every insurance policy, there is a waiting period of three years as far as the critical illness is concerned. So a critical illness, if it happens due to the air pollution or due to any other reason before three years, then most of the insurance policies do not cover it. ”

Despite no new launches, five IPOs that hit the Street last week will likely see their shares getting listed. Among these, Tata Technologies, with a soaring GMP of over Rs 400, is generating a lot of interest among investors and analysts alike on the potential bumper debut. Considering the upper price band of Rs 500, the stock is expected to list at a premium of over 80% as compared to the issue price.

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"Just like mainboard IPO regulations, SME IPOs are also fully regulated. The disclosure which is required to file for mainboard IPOs are mandatory for SME IPOs as well. Investors have enough information about SMEs to make an informed decision regarding their investments. We expect a flurry of IPOs in the second half of the financial year 2023-24, building on the trend of the last few months."

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Dalal Street is gearing up for another busy week in the primary market as six small and medium enterprises (SME) IPOs to hit the primary market this week. However, Swashthik Plascon has already opened for subscription and will close this week. The Rs 31.73 crore initial public offering of Amic Forging will open for subscription on Wednesday