IPO Details

Bidding Dates

19 Jun '24 - 21 Jun '24

Minimum Investment

₹1,36,000/1 Lot ( 2,000 Shares )

Price Range

₹65 - ₹68

Maximum Investment

₹1,36,000/1 Lot ( 2,000 Shares )

Retail Discount

To be announced

Issue Size

₹40.80 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jun 19, 2024

Closing Date

Jun 21, 2024

Allotment Date

Jun 24, 2024

Initiation of Refunds

Jun 25, 2024

Credit of Shares to Demat

Jun 25, 2024

Listing Date

Jun 26, 2024

Cut-off time for UPI mandate confirmation

Jun 21, 2024

About Durlax Top Surface Limited

Durlax Top Surface Limited, originally incorporated as Durlax Archtech Private Limited on May 3, 2010, is a prominent manufacturer of solid surface materials. The company operates from Vapi with a state-of-the-art facility employing German and South Korean technologies.

They offer their products under two brands: LUXOR® and ASPIRON®. LUXOR® specialises in Acrylic UV Solid Surfaces, while ASPIRON® provides modified solid surfaces. Both brands are celebrated for their aesthetic appeal, seamless designs, and functional properties like antibacterial and fire-retardant features.

The company’s products are distributed across India through a robust network of distributors and direct customers and are also exported to various countries, including Dubai, Qatar, Greece, and Sri Lanka.

Durlax Top Surface Limited caters to a wide range of residential, commercial, hospitality, healthcare, and more sectors, offering solutions for countertops, vanities, office spaces, retail environments, hotels, hospitals, and outdoor projects.

The founders, Shravan Suthar and Lalit Suthar, both certified interior designers, bring extensive expertise to the firm. Together, they drive the company’s mission to fulfill the evolving demands of their customers and enhance various living and professional spaces.

Industry Outlook:

  1. The global home decor market is projected to grow from US$ 715.4 billion in 2022 to US$ 937.0 billion by 2028, with a CAGR of 4.6%.
  2. The Indian home furnishings market is expected to increase from INR 48,625 crore in 2022 to INR 78,536 crore by 2028, reflecting an 8.23% CAGR.

Durlax Top Surface Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Partly finance the working capital requirements;
  2. General corporate purposes and
  3. To meet the offer expenses

Peer Details

The companies considered by Durlax Top Surface as its peers include:

  1. Kaka Industries Limited
  2. Dhabriya Polywood Limited
  3. Pokarna Limited

How to Check the Allotment Status of the Durlax Top Surface Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Durlax Top Surface Limited IPO

  • Registered office: 301, Jaisingh Commonspace, Dayal Das Road, FP362, W.E. Highway, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
  • Phone: +91-75067 99831
  • E-mail:cs@durlaxindia.com

IPO Financials

Particulars Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Revenue (in ₹ lakh) 6,684.20 4,741.81 1,974.00
Profit After Tax (PAT) (in ₹ lakh) 262.59 80.66 (26.41)
Cash & Cash Equivalents (in ₹ lakh) 9.48 4.77 2.03
Net Worth (in ₹ lakh) 1,726.37 1,294.28 1,213.62
Debt to Equity Ratio(x) 2.14 3.04 3.09
Return on Equity (%) 17.39% 6.43% -2.15%
Return on Capital Employed (RoCE) (%) 17.70% 13.58% 6.73%
Earning Per Share (EPS)-in absolute ₹ 2.20 0.68 (0.22)

Know before investing


  1. Offering over 100 shades and thicknesses from 4 mm to 20 mm.

  2. Strong presence in Indian and international markets like Dubai, USA, and Thailand.

  3. Wide and diverse product portfolio enhances cross-selling opportunities.

  4. Experienced promoters with 20 years of industry knowledge and growth leadership.

  5. Strategic distribution network across India with over 20 distributors.

  6. Significant sales to distributors, accounting for 67.12% of total sales in FY 2023.


  1. Top 10 customers contribute 71.24% of revenue, posing a concentration risk.

  2. No long-term agreements with key suppliers; top 10 provided 84.30% of purchases.

  3. Underutilised production capacity impacts financial performance and growth.

  4. 96.98% reliance on domestic market increases vulnerability to local disruptions.

  5. No long-term distributor agreements; 67.12% of sales through distributors.

  6. Contingent liabilities of ₹573.72 lakhs for import duties affect stability.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

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Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Durlax Top Surface IPO FAQs

What is Durlax Top Surface Limited IPO?

Durlax Top Surface Limited IPO is a book built IPO. The IPO will be open from June 19, 2024 to June 21, 2024.

When will Durlax Top Surface Limited IPO be allotted?

The Basis of Allotment will happen on Monday, June 24, 2024.

When will Durlax Top Surface Limited IPO open for subscription?

The IPO subscription window will open on June 19, 2024.

What minimum lot size can retail investors subscribe to?

The lot size for Durlax Top Surface Limited ’s IPO is 1 lot of 2,000 shares, with a minimum investment of ₹1,36,000.

When will Durlax Top Surface Limited list on exchanges?

The listing date for Durlax Top Surface Limited is Wednesday, June 26, 2024.

What would be the listing gains on the Durlax Top Surface Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Durlax Top Surface Limited IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Durlax Top Surface Limited IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Durlax Top Surface Limited using one PAN?

You can submit only one application using your PAN card.